2.75%
6 months
N/A
CA$1,000
Saven Financial stands out for its straightforward 6-month GIC offering at a competitive rate of 2.75%. With a minimum deposit of $1,000, it provides a solid option for those looking to invest in a short-term, secure investment.
Pros:
- Competitive rate
- Tax-free growth options
Cons:
- Minimum deposit required
- No promotional rates for 6-month term
2.EQ Bank
2.75%
6 months
N/A
CA$100
What sets EQ Bank apart is its exceptionally low minimum deposit of just $100 for a 6-month GIC at a rate of 2.75%. This accessibility makes it an attractive choice for new investors or those looking to diversify their savings.
Pros:
- Low minimum deposit
- No monthly fees
Cons:
- Standard rate with no promotions
- Limited to non-registered accounts
2.25%
6 months
N/A
CA$1,000
Oaken Financial offers a 6-month GIC with a rate of 2.25%, which is lower than some competitors. However, it provides the security of CDIC deposit protection and a minimum deposit requirement of $1,000, making it a reliable choice for conservative investors.
Pros:
- CDIC deposit protection
- Flexible investment options
Cons:
- Lower rate compared to competitors
- Minimum deposit required
Did you know?
Six-month GIC terms suit cash you may reinvest quickly. Compare promotional rates and what happens after maturity.
Final Words
In August 2026, some of the best providers for 6-month GICs in Canada include Hubert Financial, with competitive rates that can help maximize your savings. As you consider your investment options, be sure to compare rates and terms from various institutions to find the best fit for your financial goals.
Frequently Asked Questions
The top providers for 6-month GICs in Canada this August 2026 are: 1. Saven Financial - Rate: 2.75%, Minimum Deposit: CA$1,000 2. EQ Bank - Rate: 2.75%, Minimum Deposit: CA$100 3. Oaken Financial - Rate: 2.25%, Minimum Deposit: CA$1,000.
Saven Financial offers an interest rate of 2.75% for their 6-month GIC.
The minimum deposit required for EQ Bank's 6-month GIC is CA$100.
A Guaranteed Investment Certificate (GIC) is a fixed-term investment where you deposit money for a specific period, and in return, you earn interest on that amount. At the end of the term, your principal investment plus the interest earned is returned to you.
In Canada, GICs typically have terms ranging from 30 days to 5 years, with various options for interest payment, including monthly, semi-annually, or annually.
Yes, GICs issued by member institutions of the Canada Deposit Insurance Corporation (CDIC) are insured up to CA$100,000 per depositor, per institution, in case of bank failure.
If you withdraw your money from a GIC before the term ends, you may forfeit some or all of the interest earned, and in some cases, you may lose a portion of your principal. It depends on the specific terms and conditions of the GIC.
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 | 4.10% | 5 years | $1,000 | Learn more |
| WealthONE | 4.10% | 5 years | CA$1,000 | Learn more |
| Achieva Financial | 4.05% | 5 years | CA$1,000 | Learn more |
| Concentra Bank | 4.05% | 5 years | $1,000 | Learn more |
| Oaken Financial | 4.05% | 5 years | CA$1,000 | Learn more |
| Equitable Bank | 4.00% | 5 years | $100 | Learn more |
| HomeEquity Bank | 4.00% | 5 years | $5,000 | Learn more |
| EQ Bank | 4.00% | 5 years | CA$100 | Learn more |
| Home Bank | 3.96% | 5 years | $1,000 | Learn more |
| MCAN Wealth | 3.65% | 1 year | CA$1,000 | Learn more |
| Tangerine | 3.65% | 5 years | CA$0 | Learn more |
| Equitable Trust | 3.30% | 1 year | CA$1,000 | Learn more |
| Laurentian Bank | 3.00% | 1 year | CA$500 | Learn more |
| TD Canada Trust | 2.90% | 5 years | CA$1,000 | Learn more |
| Saven Financial | 2.75% | 6 months | CA$1,000 | Learn more |
