Best 6 Month GIC Rates this July 2026 in Canada

What sets EQ Bank apart is its low minimum deposit requirement of just CA$100, making it accessible for a wider range of investors. Their competitive 6-month GIC rate of 2.75% ensures that your principal is guaranteed while earning interest at maturity.

Yes, EQ Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means that eligible deposits, including GICs, are insured up to $100,000.

EQ Bank offers competitive GIC rates that vary depending on the term length. For the most current rates, please visit the EQ Bank website.

GIC rates can vary frequently, so it's best to compare rates from multiple banks, including EQ Bank, to find the best option for your needs.

EQ Bank is owned by Equitable Bank, which is a federally regulated bank in Canada.

ICICI Bank Canada shines for its dual currency options, offering a 6-month GIC rate of 2.45% for CAD deposits and an impressive 3.95% for USD deposits. This flexibility allows investors to choose based on their currency preferences while maintaining a minimum deposit of CA$1,000.

To open a GIC account with ICICI Bank Canada, visit www.icicibank.ca to register online and fill in your personal details.

RBC Royal Bank offers a solid option for those looking for a reputable institution, with a 6-month GIC rate of 2.40%. However, the higher minimum deposit of CA$5,000 may deter some investors, especially when compared to other providers with lower thresholds.

Yes, an RBC TFSA can hold Guaranteed Investment Certificates (GICs) among other investments.

Interest on an RBC GIC can be paid monthly, semi-annually, annually, or at maturity.

Scotiabank provides a reliable choice for GIC investors, offering a 6-month rate of 2.30%. While their rates may not be the highest in the market, their established presence and range of GIC products make them a trustworthy option.

Scotiabank Market Linked GICs give you the best of both worlds: The potential to earn more based on equity index performance while protecting your initial investment.

Inflation, and particularly unexpectedly high inflation, reduces the purchasing power of a GIC upon maturity; this is arguably the biggest risk when buying a GIC. Particularly for long-term, non-redeemable GICs, any significant burst of inflation can wreak havoc with your investment.

Scotiabank offers a variety of GICs including Market Linked GICs and traditional fixed-rate GICs.

Generally, GICs are non-redeemable before maturity, but Scotiabank may offer redeemable options with different terms.

Interest on Scotiabank GICs is typically calculated based on the terms of the GIC, which may include fixed or variable rates depending on the type of GIC chosen.

BMO Canada offers a standard 6-month GIC rate of 2.05%, which is currently the lowest among major banks. While they provide flexibility in investment options, the lack of competitive rates and promotions may not attract investors seeking higher returns.

Types of BMO GICs The Bank of Montreal has a large selection of GICs, including cashable, non-cashable, RateRiser GICs (where the rate rises each year), market-linked GICs, and U.S. dollar GICs.

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