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Best GIC rates in Canada

This is list of GIC (Guaranteed Investment Certificate) rates available at Canadian Banks. It should help you to choose the best rate for long term and safe deposit. You can use savings calculator to see what interest you'll earn with the rate you pick.

In this table are listed only 1-5 years long term rates, but some Canadian banks offer longer term GICs. Check their websites for more information, as rates can be changed at any time without prior notice.


Banks are listed in alphabetic order (last update May, 2014)

Bank NameMinimum InvestmentInvestment TermsInterest Payment Option
1 year2 years3 years4 years5 years
b2b bank$10001.45%1.86%2.06%2.26%2.55%Annual pay or compound
Bank of Montreal$10000.75%0.90%1.10%1.35%1.70%Semi-Annually (April 30th & October 31st) and at maturity if term is 1 year or longer.
Bank West$50000.75%1.00%1.00%1.00%1.00%
Canadian Tire Bank$5001.10%1.25%1.50%1.80%2.35%Interest is paid on the maturity of your GIC . Earn additional 0.25% on top of the posted rate for GIC investments of $20,000+
Canadian Western Bank$10001.65%1.90%2.05%2.30%2.45%Annual interest
CIBC$10000.90%0.90%0.95%1.10%1.25%Simple interest is paid monthly, quarterly, semi-annually, or annually, or compound interest is calculated annually and paid at maturity
General Bank of Canada$50001.80%2.01%2.20%2.36%2.55%
HomEquity Bank$50001.40%1.55%1.85%2.20%2.50%Annual interest
Tangerine (ex ING Direct Canada)$01.35%1.65%1.90%2.20%2.55%
Laurentian Bank of Canada$10000.85%1.10%1.25%1.40%1.75%Monthly, quarterly, semi-annual or annual basis
Manulife Bank of Canada$25001.46%1.65%1.90%2.20%2.45%Annual interest
CFF Bank (ex MonCana Bank of Canada)$50002.13%2.15%1.95%2.10%2.35%Paid Annually
National Bank of Canada$10000.90%1.15%1.25%1.50%1.75%Annual
Pacific & Western Bank of Canada$10001.65%1.90%1.90%2.05%2.20%Annual or compound annual
President's Choice Financial$1001.40%1.65%1.90%2.20%2.50%Compounded at the end of each month
Royal Bank of Canada$5001.30%1.55%1.75%1.60%2.20%Interest paid annually
Scotia Bank$10000.90%1.10%1.25%1.40%1.75%Interest paid annually
TD Canada Trust$10001.30%1.35%1.40%1.60%2.20%Compound interest calculated annually and paid at maturity