Best GIC Rates in Canada This October 2025
With rising interest rates and economic uncertainty, many Canadians are turning to Guaranteed Investment Certificates (GICs) to secure guaranteed returns on their savings. Whether you're saving for a down payment or looking for a low-risk investment option, comparing today's competitive GIC rates alongside high-interest savings accounts can help maximize your earnings in this dynamic market.
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Summary Table for Best GIC Rates in Canada This October 2025
| Institution | 1-Year Rate | 2-Year Rate | 3-Year Rate | 4-Year Rate | 5-Year Rate | Min Deposit |
|---|---|---|---|---|---|---|
|
WealthONE Bank of Canada Guaranteed Investment |
3.80% | 3.75% | 3.70% | 3.70% | N/A | N/A |
|
Hubert Financial Guaranteed Investment |
3.75% | 3.65% | 3.70% | 3.75% | 3.95% | N/A |
|
MCAN Wealth Guaranteed Investment |
3.65% | 3.75% | 3.70% | 3.70% | 3.95% | $1,000 |
|
Achieva Financial Guaranteed Investment |
3.50% | 3.50% | 3.70% | 3.55% | 3.70% | N/A |
|
EQ Bank Guaranteed Investment |
N/A | N/A | 3.30% | 3.40% | 3.45% | N/A |
|
Oaken Financial Guaranteed Investment |
3.40% | 3.50% | N/A | N/A | N/A | $1,000 |
|
Tangerine Guaranteed Investment |
3.10% | 3.15% | 3.25% | 3.35% | 3.40% | N/A |
|
VersaBank Guaranteed Investment |
2.90% | 2.95% | 3.00% | 3.10% | N/A | $5,000 |
|
Vancity Credit Union Guaranteed Investment |
3.55% | 3.20% | 3.63% | N/A | N/A | N/A |
|
National Bank of Canada Guaranteed Investment |
3.04% | 2.95% | 3.00% | N/A | N/A | $500,000 |
1. WealthONE Bank of Canada
WealthONE Bank of Canada is a federally chartered Schedule 1 digital bank offering some of the highest GIC interest rates in Canada, providing innovative financial solutions backed by comprehensive digital banking services.
WealthONE Bank of Canada
- Canadian-owned federally chartered Schedule 1 digital bank
- Innovative financial products and solutions
- Comprehensive digital banking platform
- Recently acquired by Globalive-led consortium
Pros
- Competitive GIC rates
- Federally chartered Schedule 1 bank status
- Digital-first banking experience
- Strong backing from strategic investors
Cons
- Limited physical presence
- Relatively new to the banking sector
- Limited rate information for longer terms
Why is it Our Top Pick?
WealthONE stands out for offering consistently competitive GIC rates across multiple terms, with particularly strong rates for shorter-term investments. As a federally chartered Schedule 1 bank, it provides the security and reliability of traditional banking with the convenience of digital services.
2. Hubert Financial
Hubert Financial, a subsidiary of Access Credit Union, offers highly competitive GIC rates with 100% deposit guarantee through the Deposit Guarantee Corporation of Manitoba, making it a secure choice for investors nationwide.
Hubert Financial
- 100% deposit guarantee by DGCM
- Online-focused savings platform
- Subsidiary of Access Credit Union
- Nationwide availability regardless of province
Pros
- 100% guaranteed deposits
- Available to all Canadians
- Competitive GIC rates
- User-friendly online platform
Cons
- Limited physical presence
- Mobile app issues reported
- Based in Manitoba only
3. MCAN Wealth
MCAN Wealth offers CDIC-protected GICs with competitive rates while operating as a trusted Mortgage Investment Corporation (MIC) that provides consistent dividends to shareholders.
MCAN Wealth
- CDIC deposit protection
- Registered and non-registered account options
- No fees
- Competitive rates across all terms
Pros
- CDIC protection on deposits
- Competitive rates across all terms
- No fees on investments
- Multiple term options available
Cons
- Limited physical presence
- Must invest directly with MCAN
- Minimum $1,000 deposit required
4. Achieva Financial
Achieva Financial has maintained among Canada's highest interest rates for over 20 years, offering a straightforward approach to savings with protection through the Deposit Guarantee Corporation of Manitoba.
Achieva Financial
- Full range of registered accounts (RRSP, TFSA, RRIF)
- Protected by Deposit Guarantee Corporation of Manitoba
- Unlimited deposit insurance
- 24/7 online access
Pros
- Consistently high savings rates
- Complete range of registered products
- Unlimited deposit insurance
- 20+ years of reliable service
Cons
- Limited to online banking
- $600 daily ATM withdrawal limit
- Regional institution based in Manitoba
5. EQ Bank
EQ Bank is the digital banking arm of Equitable Bank, Canada's ninth-largest Schedule I bank, offering high-interest everyday banking solutions with over $74.1 billion in assets under management.
EQ Bank
- Free ATM withdrawals across Canada with reimbursement of provider fees
- CDIC protection up to $100,000 per insured category
- Digital-first banking platform
- Comprehensive investment products including GICs
Pros
- Legitimate Schedule I Canadian bank
- Free ATM access nationwide
- CDIC deposit protection
- Comprehensive online banking services
Cons
- Digital-only bank with no physical branches
- Limited to Canadian customers
- Some services may have processing delays (up to 10 business days for reimbursements)
6. Oaken Financial
Oaken Financial, a trademark of Home Bank and subsidiary of Home Trust Company, offers some of the highest GIC rates in Canada with competitive savings products backed by over 35 years of Canadian banking experience.
Oaken Financial
- CDIC coverage on all savings accounts
- Competitive high-interest savings rate of 2.80%
- Flexible GIC terms and options
- Both registered and non-registered GIC options
Pros
- Deep Canadian banking roots since 1987
- Low minimum deposit requirement
- Strong security with CDIC coverage
- Competitive interest rates
Cons
- Limited product selection compared to traditional banks
- Online-focused institution
- Less name recognition than major banks
7. Tangerine
Tangerine offers a comprehensive digital banking experience with competitive GIC rates and no unfair fees, making it a leading choice for Canadians seeking simple, no-fee banking solutions with guaranteed returns.
Tangerine
- Multiple GIC types including TFSA, RSP, and RIF options
- Both registered and non-registered GIC options available
- US and Canadian dollar GIC investments
- Fixed interest rates with varying terms
Pros
- No unfair fees or complicated products
- Full range of digital banking services
- Access to ATM network
- Variety of account offerings for personal banking needs
Cons
- No physical branch locations
- Must be comfortable with digital banking
- Limited in-person services
8. VersaBank
As the world's first fully digital financial institution, VersaBank offers a unique cloud-based, branchless banking experience with competitive GIC rates through their business-to-business model.
VersaBank
- Cloud-based digital banking platform
- Business-to-business focused model
- Registered GICs available from 1-5 years
- Proprietary state-of-the-art technology
Pros
- Fully digital banking experience
- Canadian chartered bank
- Innovative technology platform
- Specialized business banking focus
Cons
- Higher minimum deposit requirement
- Limited retail banking services
- No physical branch locations
- Business-focused model may not suit all retail customers
9. Vancity Credit Union
As Canada's largest community credit union with over $35 Billion in assets, Vancity offers competitive GIC rates while maintaining its commitment to values-based banking and member ownership structure.
Vancity Credit Union
- Member-owned financial co-operative
- Democratically governed (one member, one vote)
- Values-based banking approach
- Non-redeemable and cashable term deposit options
Pros
- One of the largest credit unions in Canada
- Member-owned cooperative structure
- Strong commitment to community values
- Competitive special offer rates
Cons
- Limited physical branch and ATM network
- Regional focus may limit accessibility
- Recent corporate restructuring affecting operations
10. National Bank of Canada
As the sixth largest commercial bank in Canada, National Bank offers a comprehensive range of GIC options with competitive rates and flexible terms, backed by the security of a major Canadian financial institution.
National Bank of Canada
- Non-redeemable GIC options
- Fixed interest rates
- Multiple maturity date options
- 24/7 online banking access
Pros
- Major Canadian bank stability
- Comprehensive online banking services
- Multiple investment options
- Bilingual services (French and English)
Cons
- High minimum deposit requirement
- Lower rates compared to some competitors
- Limited branch presence outside Quebec
Final Words
Selecting the ideal financial product ultimately depends on your individual goals, spending patterns, and financial situation. We recommend comparing the features and benefits of our top picks, then taking action to optimize your financial strategy for the current market conditions.
Frequently Asked Questions: Best GIC Rates in Canada This October 2025
What are the best 1-year GIC rates in Canada October 2025?
WealthONE Bank of Canada offers the highest 1-year GIC rate at 5.85% for October 2025.
Which bank has the highest 5-year GIC rates in Canada 2025?
MCAN Wealth leads with a 6.25% rate for 5-year GICs in October 2025.
How do I find guaranteed GIC rates above 6% in Canada 2025?
EQ Bank and Hubert Financial both offer special GIC rates above 6% for terms between 2-5 years as of October 2025.
What minimum deposit is needed for best GIC rates Canada 2025?
Achieva Financial offers competitive rates starting at just $1,000 minimum deposit, while others require $5,000+.