Best 5 Year GIC Rates this August 2026 in Canada

What sets Equitable Bank apart is its exceptionally low minimum deposit requirement of just $100, combined with a competitive 5-year GIC rate of 4.00%. This makes it an ideal choice for those looking to start investing with a smaller amount.

A GIC, or Guaranteed Investment Certificate, is a type of investment that offers a guaranteed return over a fixed period.

Equitable Bank offers a variety of GICs, including cashable GICs, non-redeemable GICs, and market-linked GICs.

The minimum investment amount for a GIC at Equitable Bank typically starts at $1,000.

Interest on Equitable Bank GICs can be paid monthly, annually, or at maturity, depending on the type of GIC chosen.

Yes, GICs from Equitable Bank are eligible for coverage by the Canada Deposit Insurance Corporation (CDIC), up to applicable limits.

If you withdraw your GIC early, you may incur penalties or forfeit some of the interest earned, depending on the terms of the GIC.

Yes, you can set up a GIC through Equitable Bank's online banking platform.

HomeEquity Bank shines for its solid 5-year GIC rate of 4.00%, appealing to those who can meet the higher minimum deposit of $5,000. This provider also offers the security of CDIC insurance, ensuring peace of mind for investors.

HomeEquity Bank is a Canadian bank that specializes in providing reverse mortgages to homeowners aged 55 and older.

A reverse mortgage is a loan that allows homeowners to convert a portion of their home equity into cash, which can be used for various purposes, while still retaining ownership of their home.

Homeowners aged 55 and older are eligible for a reverse mortgage with HomeEquity Bank, provided they have sufficient equity in their home.

The amount you can access through a reverse mortgage depends on your age, the value of your home, and the current interest rates.

No, with a reverse mortgage from HomeEquity Bank, you do not have to make monthly payments. The loan is repaid when you sell your home, move out, or pass away.

The funds from a reverse mortgage can be used for various purposes, including home renovations, paying off debt, covering living expenses, or funding retirement.

As long as you continue to meet the terms of the reverse mortgage, such as paying property taxes and maintaining the home, you can remain in your home.

You can apply for a reverse mortgage with HomeEquity Bank by contacting them directly through their website or by calling their customer service.

Concentra Bank offers a competitive 5-year GIC rate of 4.05%, making it a strong contender for those looking for reliable returns. However, potential investors should note that new customers must work through a referring agent to access these products.

A GIC, or Guaranteed Investment Certificate, is a low-risk investment that provides a guaranteed return over a specified period.

Concentra Bank offers a variety of GICs, including cashable GICs, non-redeemable GICs, and market-linked GICs.

The minimum investment amount for a GIC at Concentra Bank typically starts at $500.

Yes, GICs issued by Concentra Bank are eligible for CDIC insurance, providing protection for deposits up to $100,000.

Interest rates for GICs at Concentra Bank are determined based on market conditions and the term length of the investment.

Cashing in a GIC before maturity may result in penalties or reduced interest, depending on the type of GIC you hold.

At the end of your GIC term, you can choose to withdraw your principal and interest, or reinvest in a new GIC.

WealthONE Bank of Canada offers a leading 5-year GIC rate of 4.10%, ranking among the highest available fixed returns in the country. This makes it an excellent choice for those looking to maximize their investment over a longer term.

WealthONE Bank of Canada offers a variety of GICs, including both redeemable and non-redeemable options with different terms and interest rates.

The minimum investment amount for a GIC at WealthONE Bank of Canada is typically $1,000.

Yes, GICs at WealthONE Bank of Canada are eligible for deposit insurance through the Canada Deposit Insurance Corporation (CDIC), up to the applicable limits.

Withdrawals before maturity may be possible for redeemable GICs, but non-redeemable GICs will generally require you to hold the investment until maturity.

Interest on GICs can be paid at maturity or annually, depending on the specific terms of the GIC you choose.

At maturity, you will receive your principal investment back along with any accrued interest. You may also have the option to reinvest in another GIC.

You can open a GIC account with WealthONE Bank of Canada online through their website or by visiting a branch.