Best GIC Rates in Canada
As of October 6, 2026, the highest 1-year GIC rate we track is 4% from Haventree Bank, and the highest 5-year rate is 4.5% from Oaken Financial. Non-redeemable GICs usually pay more but lock your money until maturity.
| Term | Best rate | Provider | GIC | Redeemable | CDIC |
|---|---|---|---|---|---|
| 90 days | 3% | DUCA Credit Union | DUCA Credit Union 90-Day Non-Redeemable GIC | No | — |
| 180 days | 2.8% | EQ Bank | EQ Bank 180-Day Non-Redeemable GIC | No | Yes |
| 1 year | 4% | Haventree Bank | Haventree Bank 1-Year Non-Redeemable GIC | No | Yes |
| 2 years | 4.25% | Oaken Financial | Oaken Financial 2-Year Non-Redeemable GIC | No | Yes |
| 3 years | 4.3% | Haventree Bank | Haventree Bank 3-Year Non-Redeemable GIC | No | Yes |
| 5 years | 4.5% | Oaken Financial | Oaken Financial 5-Year Non-Redeemable GIC | No | Yes |
Are GICs safe?
GICs from CDIC member banks are protected up to $100,000 per eligible deposit category at each member institution. GICs from credit unions are covered by provincial deposit insurers instead.
Should I choose a redeemable or non-redeemable GIC?
Choose non-redeemable for a higher rate if you will not need the money before maturity. Choose redeemable (or a GIC ladder) if you might need to withdraw early.