4.10%
5 years
N/A
CA$1,000
WealthONE stands out as the top choice because it offers one of the highest 5-year GIC rates in Canada at 4.10%. This competitive rate, combined with the security of CDIC insurance, makes it an excellent option for savers looking to grow their investments.
Pros:
- High interest rate
- CDIC insurance
Cons:
- Minimum deposit required
4.05%
5 years
N/A
CA$1,000
What sets Achieva Financial apart is its commitment to providing a strong 5-year GIC rate of 4.05%, which is highly competitive in the current market. This provider also offers various account options, making it a versatile choice for different investment strategies.
Pros:
- Industry-leading rate
- Flexible account options
Cons:
- Minimum deposit required
4.05%
5 years
N/A
CA$1,000
Oaken Financial shines for its reliable 5-year GIC rate of 4.05%, which is consistently among the best in Canada. Their flexibility in interest payout options allows investors to tailor their GIC experience to their financial needs.
Pros:
- Consistent high rates
- Flexible interest payout options
Cons:
- No promotional rates currently
4.05%
5 years
N/A
CA$1,000
A key differentiator for Saven Financial is its straightforward offering of a 5-year GIC at a competitive rate of 4.05%. This rate applies across various account types, making it accessible for a wide range of investors.
Pros:
- Guaranteed growth
- Wide account type acceptance
Cons:
- Minimum deposit required
5.EQ Bank
4.00%
5 years
N/A
CA$100
EQ Bank offers a solid 5-year GIC rate of 4.00%, which, while slightly lower than some competitors, is still competitive. The low minimum deposit of CA$100 makes it an attractive option for new investors looking to start saving.
Pros:
- Low minimum deposit
- Competitive rates
Cons:
- Lower rate compared to top providers
3.70%
5 years
N/A
CA$1,000
ICICI Bank Canada provides a reliable 5-year GIC option with a rate of 3.70%. While this rate is not the highest available, the bank's established reputation and range of account options make it a trustworthy choice for investors.
Pros:
- Established institution
- Various account options
Cons:
- Lower rate compared to others
3.10%
5 years
N/A
CA$1,000
BMO Canada offers a standard 5-year GIC at a rate of 3.10%, which is the lowest among the providers listed. However, the bank's extensive experience and variety of GIC options may appeal to those looking for stability.
Pros:
- Well-known bank
- Multiple GIC options
Cons:
- Lowest rate among competitors
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
In conclusion, as you explore the best 5-year GIC rates in Canada this July 2026, consider top providers like WealthONE, EQ Bank, and Oaken Financial for competitive interest rates and secure investment options. Remember to compare rates and terms across different institutions to ensure you find the best fit for your financial goals.
Frequently Asked Questions
The best 5-year GIC rates in Canada for July 2026 are offered by WealthONE at 4.10%, Achieva Financial at 4.05%, and Oaken Financial also at 4.05%.
The minimum deposit required for a 5-year GIC with WealthONE is CA$1,000.
WealthONE offers the highest rate at 4.10% for a 5-year GIC, while both Achieva Financial and Oaken Financial offer rates of 4.05% for the same term.
A Guaranteed Investment Certificate (GIC) is a secure investment that guarantees 100% of your principal and provides a fixed interest rate over a specified term.
Yes, GICs are considered safe investments as they guarantee the return of your principal and interest, making them a low-risk option for investors.
Typically, GICs are locked for the term specified (e.g., 5 years), and accessing your money early may result in penalties or reduced interest.
At the end of a GIC term, you receive your principal back along with the interest earned. You can then choose to reinvest it or withdraw the funds.
When choosing a GIC provider, consider factors such as interest rates, minimum deposit requirements, the reputation of the financial institution, and the terms and conditions of the GIC.
Compare CD Rates
Summary of all rates from our cd rate pages. Click column headers to sort.
| Provider ↕ | Rate ↓ | Term ↕ | Min Deposit | |
|---|---|---|---|---|
| WealthONE | 4.10% | 5 years | CA$1,000 | Learn more |
| WealthONE Bank of Canada | 4.10% | 4 years | CA$1,000 | Learn more |
| Achieva Financial | 4.05% | 5 years | CA$1,000 | Learn more |
| Oaken Financial | 4.05% | 5 years | CA$1,000 | Learn more |
| Saven Financial | 4.05% | 5 years | CA$1,000 | Learn more |
| MCAN Wealth | 4.05% | 5 years | CA$1,000 | Learn more |
| EQ Bank | 4.00% | 5 years | CA$100 | Learn more |
| Pathwise Credit Union | 3.90% | 1 year | CA$1,000 | Learn more |
| ICICI Bank Canada | 3.70% | 5 years | CA$1,000 | Learn more |
| MCAN (Manulife Credit Union) | 3.65% | 1 year | CA$2,500 | Learn more |
| Simplii Financial | 3.20% | 4 years | CA$100 | Learn more |
| Tangerine Bank | 3.15% | 1 year | CA$0 | Learn more |
| TD Canada Trust | 3.10% | 5 years | CA$500 | Learn more |
| BMO Canada | 3.10% | 5 years | CA$1,000 | Learn more |
| RBC Royal Bank | 2.75% | 5 years | CA$1,000 | Learn more |
| Scotiabank Canada | 2.45% | 1 year | CA$500 | Learn more |
