Fixed-rate GICs
A fixed-rate GIC pays a stated rate for a set term, subject to the provider's terms and conditions.
GIC guide
Understand your GIC options
A plain-language overview of the most common GIC structures and account types available to Canadian savers.
GICRateCompare.com primarily helps users compare fixed-term, non-redeemable GIC options. Cashable or redeemable products may not be available through participating providers.
Cashable or redeemable GICs
May provide more flexibility, but often have different rates, holding periods, or redemption rules.
Registered GICs
May be available inside TFSAs, RRSPs, RRIFs, RESPs, or FHSAs depending on provider availability.
Non-registered GICs
May suit savers investing personal cash outside registered plans. Tax treatment should be reviewed with a qualified professional.
Corporate GICs
Corporations may be able to hold GICs, depending on provider criteria and account setup.
GIC laddering
Some savers spread funds across multiple terms to balance rate, access, and renewal flexibility.
Due diligence
Before Choosing a GIC, Check These Details
A competitive rate is only one part of the decision. Before locking funds into a GIC, verify the issuer, deposit protection, term type, account eligibility, and whether the rate is available for your province and deposit amount.
Deposit Protection
Check whether the issuer is CDIC-covered or provincially insured, and whether your deposit amount falls within applicable limits.
Term Type
Confirm whether the GIC is non-redeemable or has redemption features before committing funds.
Account Eligibility
Some rates may only apply to specific account types, such as TFSA, RRSP, RRIF, RESP, FHSA, corporate, trust, or estate accounts.
Province Availability
Certain products or providers may only be available in specific provinces or territories.
New Funds and Minimums
Some rates may require new funds, a minimum deposit, or a specific investment term.
Who it's for
Who may benefit from comparing GIC rates?
Retirees looking for predictable interest
Compare terms and interest payment options that may suit income-focused savers.
Savers with maturing GICs
Compare current options before automatically renewing with your existing bank.
Investors with large cash balances
Explore options across providers, terms, and account types.
Recent lump-sum recipients
People who sold property or received an inheritance or bonus.
Business owners with corporate cash
Corporate GICs may be available depending on provider criteria.
Registered account holders
Canadians reviewing TFSA, RRSP, RRIF, RESP, or FHSA options.
This may not be suitable if:
- • You need full daily access to your cash
- • You are seeking high-growth investments
- • You are unwilling to accept fixed-term restrictions
- • You are not comfortable reviewing provider terms before proceeding
Estimate rate differences
A quick illustration of how a small rate difference can add up over a full term.
Interest at current rate$7,275
Interest at alternative rate$8,025
Estimated difference+$750
Illustration only. Uses simple interest and does not account for taxes, compounding frequency, account type, early redemption, fees, or individual circumstances. Actual returns depend on provider terms and product details.