A guaranteed investment certificate (GIC) is a secure, low-risk investment product that earns interest over a set time period. Interest rates vary by term length, and you generally need to invest your money for longer to get the best GIC rate.

There are many types of GICs, but our selections focus on the most common type: fixed-rate, non-redeemable GICS. These safe term deposits require you to lock away your funds for a set term and, in exchange, pay a fixed rate of interest.

HIGHEST GIC RATES CURRENTLY AVAILABLE

The best GIC rates in Canada as of October 18, 2023.

• 1-year GIC: 5.98% (WealthONE Bank of Canada)
• 2-year GIC: 5.78% (WealthONE Bank of Canada)
• 3-year GIC: 5.48% (Motive Financial and WealthONE Bank of Canada)
• 4-year GIC: 5.35% (BMO Bank of Montreal)
• 5-year GIC: 5.30% (National Bank of Canada and LBCDigital.ca)

Use our table to compare GIC rates from dozens of Canadian banks.