1.Haventree Bank
4.20%
5 years
N/A
CA$5,000
Haventree Bank stands out as the top choice because it offers some of the highest GIC rates in the market, particularly for longer terms. Its recent transition to a digital banking model enhances accessibility for customers seeking competitive fixed-term investments.
Pros:
- Competitive rates
- Direct-to-consumer digital bank
Cons:
- High minimum deposit
4.40%
5 years
N/A
CA$1,000
What sets this provider apart is its consistently high rates across various terms, particularly the 5-year GIC offering. WealthONE's competitive edge lies in its low minimum deposit requirement, making it accessible for a wider range of investors.
Pros:
- High rates for fixed GICs
- Low minimum deposit
Cons:
- No active promotional campaigns
4.10%
3 years
N/A
CA$1,000
The standout feature here is Oaken Financial's commitment to providing a range of term options, from short to long-term GICs. Their rates are competitive, especially for those looking to invest for a medium duration.
Pros:
- Flexible term options
- Strong online presence
Cons:
- Rates vary frequently
4.Achieva Financial
4.10%
5 years
N/A
N/A
Achieva Financial shines for its competitive long-term yields, particularly for the 5-year GIC. Their focus on providing solid returns makes them a reliable choice for investors looking for stability.
Pros:
- Competitive long-term yields
- Good reputation
Cons:
- Limited promotional offers
5.MCAN Wealth
4.05%
5 years
N/A
CA$100
MCAN Wealth offers a unique advantage with its low minimum deposit requirement, making it accessible for new investors. Their GICs are also protected by CDIC, providing an extra layer of security for savers.
Pros:
- Low minimum deposit
- CDIC protection
Cons:
- Rates may not be the highest
6.EQ Bank
4.25%
5 years
N/A
CA$100
EQ Bank excels with its high rates for longer-term GICs, making it an attractive option for those looking to lock in their savings. The low minimum deposit requirement further enhances its appeal to a broad audience.
Pros:
- High rates for longer terms
- Low minimum deposit
Cons:
- No promotional rates
Did you know?
A Canadian GIC may be cashable, non-redeemable, or market-linked. Match the product type to whether you need access before maturity.
Final Words
In conclusion, as you consider the best GIC options in Canada this October, providers like Haventree Bank, EQ Bank, Oaken Financial, and Simplii Financial stand out for their competitive rates and flexible terms. Remember to compare the offerings from multiple institutions to find the GIC that best fits your financial goals and maximizes your returns.
Frequently Asked Questions
WealthONE offers an interest rate of 4.40% for their 5-year Guaranteed Investment Certificate (GIC) products.
Haventree Bank offers a competitive interest rate of 4.20% for their 5-year GIC, which is slightly lower than WealthONE's rate of 4.40%.
The minimum deposit required to invest in a GIC with WealthONE is CA$1,000.
Some of the best GIC providers in Canada this October 2026 include: 1. WealthONE (4.40%, 5 years, CA$1,000 minimum deposit) 2. Haventree Bank (4.20%, 5 years, CA$5,000 minimum deposit) 3. Oaken Financial (4.10%, 3 years, CA$1,000 minimum deposit).
A Guaranteed Investment Certificate (GIC) is a Canadian investment product that offers a guaranteed return over a fixed term, typically with a set interest rate.
Yes, GICs are considered a safe investment option because they are typically insured by the Canada Deposit Insurance Corporation (CDIC) up to certain limits, protecting your principal investment.
GIC terms in Canada can vary but commonly range from 30 days to 5 years, with some providers offering terms longer than that.
Typically, GICs are not accessible until maturity, and early withdrawal may incur penalties or result in a lower interest rate, depending on the provider's terms.
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 |
