4.05%
5 years
N/A
CA$1,000
WealthONE Bank of Canada stands out as the top choice because it offers a highly competitive interest rate of 4.05% on its 5-year GIC, making it one of the best options available for savers looking to lock in their funds.
Pros:
- One of the highest rates in the market
- CDIC insured
Cons:
- Minimum deposit required
4.00%
5 years
N/A
CA$1,000
What sets this provider apart is its consistent offering of a 4.00% interest rate on the 5-year GIC, which is among the highest in the market, ensuring that investors can secure solid returns over the long term.
Pros:
- Reliable and low-risk investment
- CDIC insured
Cons:
- Non-redeemable before maturity
3.75%
5 years
N/A
CA$0
Tangerine shines for its accessibility, allowing clients to invest in a 5-year GIC with no minimum deposit, making it an attractive option for those looking to start saving without a large upfront commitment.
Pros:
- No minimum deposit required
- Flexible account options
Cons:
- Lower rate compared to top competitors
2.75%
5 years
N/A
CA$1,000
A key differentiator for RBC is its reputation as a well-established financial institution, providing a secure option for investors despite offering a lower interest rate of 2.75% on its 5-year GIC.
Pros:
- Well-established bank
- CDIC insured
Cons:
- Lower interest rate compared to competitors
2.75%
5 years
N/A
CA$500
Scotiabank offers a reliable 5-year GIC with a standard rate of 2.75%, but it lacks current promotional rates, making it less competitive compared to other providers in the market.
Pros:
- Standardized rates
- Multiple account options
Cons:
- No current promotional rates
Did you know?
Five-year GIC products often pay more but limit access. Confirm whether the rate is registered-eligible for TFSA or RRSP use.
Final Words
In summary, as of June 2026, some of the best 5-year GIC rates in Canada can be found at providers like WealthONE Bank of Canada, which offers a competitive rate of 4.05%, along with others such as EQ Bank, Oaken Financial, and Simplii Financial. To maximize your returns, it's essential to compare these options carefully and choose the one that best aligns with your financial goals.
Frequently Asked Questions
The current interest rate for a 5-year GIC at WealthONE Bank of Canada is 4.05%.
The minimum deposit required for a 5-year GIC at MCAN Wealth is CA$1,000.
The interest rate for a 5-year GIC at Tangerine is 3.75%, which is lower than the rates offered by WealthONE Bank of Canada and MCAN Wealth.
Tangerine offers a 5-year GIC with a minimum deposit of CA$0.
GICs, or Guaranteed Investment Certificates, are fixed-term investments where you deposit money for a set period, and in return, you receive a guaranteed interest rate.
Yes, GICs are considered a safe investment option as they are backed by the Canadian government up to a certain limit, making them low-risk.
When the term of a GIC ends, the principal amount and the accrued interest are returned to the investor, and they can choose to reinvest or withdraw their funds.
Generally, you cannot access your money before the term ends without incurring penalties, though some GICs may offer a cashable option.
Compare GIC Rates
Summary of all rates from our gic rate pages. Click column headers to sort.
| Provider ↕ | Rate ↓ | Term ↕ | Min Deposit | |
|---|---|---|---|---|
| WealthONE Bank of Canada | 4.05% | 5 years | CA$1,000 | Learn more |
| EQ Bank | 4.00% | 5 years | CA$100 | Learn more |
| Scotiabank | 4.00% | 1 year | CA$500 | Learn more |
| MCAN Wealth | 4.00% | 5 years | CA$1,000 | Learn more |
| Achieva Financial | 3.85% | 5 years | CA$1,000 | Learn more |
| Tangerine | 3.75% | 5 years | CA$0 | Learn more |
| Hubert Financial | 3.45% | 1 year | CA$1,000 | Learn more |
| RBC Royal Bank | 3.10% | 2 years | CA$500 | Learn more |
| CIBC | 2.50% | 6 months | CA$1,000 | Learn more |
| TD Canada Trust | 2.05% | 6 months | CA$5,000 | Learn more |
