📈 GIC Rates · March 2026
Best GIC Rates in Canada 2026:
Guaranteed Returns Compared
GIC rates peaked in 2023–2024 and are gradually declining as the Bank of Canada cuts rates. Here's where to find the best guaranteed returns right now.
⚠️ Rates change frequently. The rates below are approximate as of March 2026. Always verify current rates directly with each institution before investing, as GIC rates can change daily.
Current Best GIC Rates by Term
30-Day Cashable GIC
~4.0%
EQ Bank, Oaken Financial
90-Day GIC
~4.2%
Oaken Financial, Outlook
1-Year GIC
~4.5%
Oaken, EQ Bank, Outlook
2-Year GIC
~4.3%
EQ Bank, Achieva, Oaken
3-Year GIC
~4.0%
Various digital banks
5-Year GIC
~3.8%
EQ Bank, Oaken Financial
GIC Rates by Institution
| Institution | 1-Year Rate | 2-Year Rate | 5-Year Rate | CDIC Insured | Min Deposit |
|---|
| Oaken Financial | ~4.60% | ~4.40% | ~3.90% | ✅ | $1,000 |
| EQ Bank | ~4.50% | ~4.30% | ~3.85% | ✅ | $100 |
| Outlook Financial | ~4.45% | ~4.25% | ~3.80% | ✅ | $1,000 |
| Achieva Financial | ~4.40% | ~4.20% | ~3.75% | ✅ (DGCM) | $1,000 |
| Peoples Bank of Canada | ~4.35% | ~4.15% | ~3.70% | ✅ | $1,000 |
| Scotiabank | ~3.90% | ~3.70% | ~3.40% | ✅ | $500 |
| RBC Royal Bank | ~3.80% | ~3.60% | ~3.30% | ✅ | $500 |
| TD Bank | ~3.75% | ~3.55% | ~3.25% | ✅ | $500 |
| BMO | ~3.70% | ~3.50% | ~3.20% | ✅ | $500 |
Rates approximate as of March 2026. Verify at each institution. Credit union rates (Achieva, Outlook) may have provincial deposit insurance instead of CDIC.
GIC Interest Calculator
GIC vs High-Interest Savings Account
| GIC | HISA (EQ Bank/Neo) |
|---|
| Rate | 4.5–5% (1yr non-redeemable) | 3.75–4% (everyday) |
| Flexibility | ❌ Locked in for term | ✅ Withdraw anytime |
| CDIC Insured | ✅ Yes | ✅ Yes |
| Best for | Money you won't need for 1+ year | Emergency fund, short-term savings |
| Minimum | Usually $500–$1,000 | $0 |
Use GICs for money you won't need for 12+ months. Use a HISA for emergency funds and money you might need to access.
Frequently Asked Questions
What is the best GIC rate in Canada right now?
As of March 2026, the best 1-year non-redeemable GIC rates are around 4.5–4.6% from digital banks and credit unions like Oaken Financial, EQ Bank, and Outlook Financial. Big bank GIC rates run about 0.5–1% lower. Rates are declining from 2023–2024 peaks as the Bank of Canada cuts its benchmark rate.
What is a GIC in Canada?
A GIC (Guaranteed Investment Certificate) is a deposit investment where you lock in your money for a fixed term (usually 30 days to 5 years) at a guaranteed interest rate. Your principal is fully protected — you cannot lose money. CDIC insures GICs up to $100,000 per depositor per institution.
Can I hold a GIC in my TFSA?
Yes. EQ Bank, Oaken Financial, and most banks offer TFSA GICs. A TFSA GIC gives you the guaranteed return of a GIC with the tax-free growth of a TFSA — no tax on the interest earned. This is one of the most attractive features of the TFSA account structure.
What happens when my GIC matures?
At maturity, most GICs automatically renew for the same term at the current rate unless you instruct otherwise. Check with your institution — you typically have a short window (10–30 days) around the maturity date to withdraw or change terms without penalty.
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Disclosure: Bremo earns referral commissions on KOHO signups. GIC rates subject to change — always verify at each institution. This is not financial advice. Rates approximate as of March 2026.