4.40%
5 years
N/A
CA$1,000
WealthOne Bank stands out as the top choice because it offers the highest GIC rate of 4.40% for a 5-year term, making it an excellent option for savers looking to maximize their returns.
Pros:
- High interest rate
- Strong reputation
Cons:
- Minimum deposit required
4.40%
5 years
N/A
CA$1,000
Oaken Financial offers a competitive 5-year GIC rate of 4.40%, which is appealing for those seeking stability and guaranteed returns backed by established financial institutions.
Pros:
- Secure returns
- Backed by reputable institutions
Cons:
- Minimum deposit required
4.30%
5 years
N/A
CA$1,000
Saven Financial shines for its consistently high GIC rate of 4.30% for a 5-year term, making it a solid choice for those looking for reliable returns.
Pros:
- Consistent high rates
- Flexible account options
Cons:
- Minimum deposit required
4.B2B Bank
4.38%
5 years
N/A
CA$1,000
B2B Bank offers a competitive 5-year GIC rate of 4.38%, appealing to investors who value flexibility in interest payment options.
Pros:
- Competitive rates
- Multiple interest payment options
Cons:
- Higher minimum deposit for some accounts
4.35%
5 years
N/A
CA$1,000
Canadian Tire Bank offers a solid 5-year GIC rate of 4.35%, making it a reliable option for those looking to invest with a trusted name.
Pros:
- Strong brand recognition
- Attractive interest rate
Cons:
- Minimum deposit required
4.17%
5 years
N/A
CA$5,000
General Bank of Canada provides a 5-year GIC rate of 4.17%, which is a stable option for investors willing to meet a higher minimum deposit requirement.
Pros:
- Stable returns
- Long-term investment option
Cons:
- Higher minimum deposit
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
As you consider investing in a 5-year GIC, the top providers like WealthOne Bank, EQ Bank, and Oaken Financial are offering competitive rates this October 2026. Be sure to compare rates and terms from multiple institutions to ensure you find the best fit for your financial goals.
Frequently Asked Questions
The top providers for 5-year GICs in Canada this October 2026 include: 1. WealthOne Bank - Rate: 4.40%, Minimum Deposit: CA$1,000. 2. Oaken Financial - Rate: 4.40%, Minimum Deposit: CA$1,000. 3. Saven Financial - Rate: 4.30%, Minimum Deposit: CA$1,000.
WealthOne Bank offers a 5-year GIC with an interest rate of 4.40%.
The minimum deposit required for a 5-year GIC with Oaken Financial is CA$1,000.
Guaranteed Investment Certificates (GICs) are fixed-term investments offered by banks and financial institutions, where your principal investment is guaranteed, and you earn interest over the term.
The interest on a 5-year GIC is typically paid at maturity, though some providers may offer options for annual or semi-annual interest payments.
When choosing a GIC provider, consider the interest rate, the minimum deposit requirement, the term length, and whether the institution is CDIC insured.
Generally, you cannot withdraw funds from a GIC before the term ends without incurring penalties, which could affect your interest earnings.
Compare GIC Rates
Summary of all rates from our gic rate pages. Click column headers to sort.
| Provider ↕ | Rate ↓ | Term ↕ | Min Deposit | |
|---|---|---|---|---|
| Oaken Financial | 4.40% | 5 years | CA$1,000 | Learn more |
| WealthOne Bank | 4.40% | 5 years | CA$1,000 | Learn more |
| WealthONE | 4.40% | 5 years | CA$1,000 | Learn more |
| B2B Bank | 4.38% | 5 years | CA$1,000 | Learn more |
| Canadian Tire Bank | 4.35% | 5 years | CA$1,000 | Learn more |
| Saven Financial | 4.30% | 5 years | CA$1,000 | Learn more |
| EQ Bank | 4.25% | 5 years | CA$100 | — |
| Haventree Bank | 4.20% | 5 years | CA$5,000 | — |
| General Bank of Canada | 4.17% | 5 years | CA$5,000 | Learn more |
| Achieva Financial | 4.10% | 5 years | — | — |
| MCAN Wealth | 4.05% | 5 years | CA$100 | — |
| WealthONE Bank of Canada | 3.80% | 1 year | CA$1,000 | Learn more |
| Laurentian Bank | 3.50% | 1 year | CA$1,000 | Learn more |
| Equitable Bank | 3.43% | 1 year | CA$1,000 | Learn more |
| Tangerine | 2.75% | 6 months | CA$10 | Learn more |
| BMO | 2.70% | 1 year | CA$1,000 | Learn more |
| CIBC Bonus Rate | 2.50% | 6 months | CA$1,000 | Learn more |
| SBI Canada Bank Non-Redeemable | 2.45% | 6 months | CA$1,000 | Learn more |
| RBC | 2.40% | 6 months | CA$1,000 | Learn more |
| ICICI Bank Canada Non-Redeemable | 2.35% | 6 months | CA$1,000 | Learn more |
