Best GIC Rates For Short-Term Savings in Canada

Compare the best Guaranteed Investment Certificate rates and features from top Canadian banks. Find the best deal for your savings with CDIC-insured protection.

Compare All GIC Rates

💰 Best GIC Rates in Canada

Product Rate Term Min Deposit Action
Tangerine GIC
 4.25% 1 Year $500 Apply Now
CIBC GIC
 4.00% 1 Year $500 Apply Now
GIC (4-year)
 4.00% 4-year $1,000 Apply Now
Saven Financial 4 Years GIC
 4.00% 4 years $1,000 Apply Now
GIC (5-year)
 3.95% 5-year $1,000 Apply Now

About Guaranteed Investment Certificate

A secure investment that guarantees to preserve capital while earning a fixed rate of return.

Tax Treatment: Interest income is taxable (unless in registered account)
Liquidity: Low - locked in for term
Risk Level: No risk (CDIC insured)

Best For:

  • Conservative investors
  • Guaranteed returns
  • Capital preservation
  • Known timeline

❓ Frequently Asked Questions

How accurate are these interest rates?

We update our rates regularly by scraping bank websites. However, rates can change frequently, so always verify with the bank before making decisions.

Are all these banks CDIC insured?

Most major Canadian banks are CDIC insured, providing up to $100,000 protection per depositor. Check individual bank details for CDIC membership status.

How often do interest rates change?

Interest rates can change at any time based on Bank of Canada policy rates and market conditions. Some banks change rates more frequently than others.

What should I consider when choosing a savings account?

Consider the interest rate, minimum deposit, fees, accessibility, and whether the institution is CDIC insured.