GIC questions Canadians often ask
Is GICRateCompare.com a bank?
No. GICRateCompare.com is an independent GIC comparison and inquiry service. We are not a bank, credit union or financial adviser. We do not accept deposits or open accounts.
Are displayed rates guaranteed?
No. Displayed rates are indicative and subject to change without notice. Rates, eligibility and availability must be confirmed with the issuer before purchase.
Is the service free?
Yes. Comparing options and submitting an inquiry is free for users. We may receive compensation if an inquiry is referred to a provider, deposit broker or licensed representative.
Will my information be shared?
Information submitted through the website may be shared with a relevant provider, deposit broker or licensed representative so they can respond to your request. See our Privacy Policy for details.
Are all GICs CDIC insured?
No. Deposit protection depends on the issuer, product, account category and jurisdiction. Eligible deposits at CDIC member institutions are insured within applicable coverage categories; provincial credit-union coverage varies by province.
What deposit amount is required?
Minimum deposits vary by product and provider. Some featured products require $50,000 or more. Inquiries below that amount are still welcome, but featured rates and providers can differ.
What is a GIC?
A Guaranteed Investment Certificate is a Canadian deposit product offered for a set term and stated rate, subject to the provider's terms and conditions.
Does GICRateCompare.com show every GIC in Canada?
No. The website compares the available or listed GIC options included in its data source. Users should verify rates and terms directly with the provider before proceeding.
Can I hold a GIC in a TFSA, RRSP, or FHSA?
Many providers offer GICs for registered accounts such as TFSAs, RRSPs, RRIFs, RESPs, and FHSAs, but availability depends on the provider and account type.
What is the difference between cashable and non-redeemable GICs?
Cashable or redeemable GICs may provide more access to funds, often at a lower rate. Non-redeemable GICs usually require funds to remain invested for the full term. GICRateCompare.com primarily helps users compare fixed-term, non-redeemable GIC options; cashable or redeemable products may not be available through participating providers.
Will I receive financial advice?
Information on this website is general in nature and does not constitute personal financial, tax, or legal advice. Users should speak with an appropriately qualified professional where needed.
How often are rates updated?
Each listed option shows a last-verified date. Rates can change without notice and must be reconfirmed with the provider before proceeding. We do not claim that every rate is updated daily.
What happens after I submit an inquiry?
Your inquiry is reviewed and, where suitable options are available, you may receive current rate information or be connected with a relevant provider, deposit broker or licensed representative. Submitting an inquiry does not commit you to purchasing a GIC.