4.05%
5 years
N/A
CA$1,000
MCAN Wealth stands out as the top choice because it offers some of the highest GIC rates in Canada, with terms ranging from 1 to 5 years. Their commitment to security and competitive rates makes them a reliable option for investors.
Pros:
- Competitive fixed rates
- CDIC insured
Cons:
- Non-redeemable before maturity
- Higher minimum deposit through brokers
4.10%
4 years
N/A
CA$1,000
What sets this provider apart is its consistently high interest rates across various terms, making it an attractive option for both registered and non-registered accounts.
Pros:
- High interest rates
- Flexible term options
Cons:
- No active promotional offers
- Minimum deposit required
3.EQ Bank
4.00%
5 years
N/A
CA$100
EQ Bank shines for its low minimum deposit requirement, allowing more investors to access GICs. Their competitive rates and flexibility make them a strong contender in the market.
Pros:
- Low minimum deposit
- CDIC insured
Cons:
- Non-redeemable
- Limited term options compared to others
3.20%
4 years
N/A
CA$100
Simplii Financial offers a straightforward approach to GICs with no setup fees and a low minimum deposit, making it accessible for new investors. However, their rates may not be as competitive as some of the top providers.
Pros:
- No setup fees
- Accessible for small investors
Cons:
- Lower rates compared to top competitors
- Limited promotional offers
3.10%
5 years
Up to 2.75% on 14-month Non-Cashable GIC
CA$500
TD Canada Trust provides a comprehensive selection of GICs with various terms and options, making it a reliable choice for investors. However, their rates may not be as competitive as those offered by smaller institutions.
Pros:
- Wide range of GIC options
- Established bank
Cons:
- Higher minimum deposit
- Rates not as competitive
2.75%
5 years
N/A
CA$1,000
RBC Royal Bank offers a solid range of GIC options with a well-established reputation. However, their rates are generally lower than those of other providers, which may deter some investors.
Pros:
- Established reputation
- Variety of GIC types
Cons:
- Higher minimum deposit
- Lower rates compared to competitors
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 explore the best GIC options in Canada this July 2026, consider top providers like MCAN Wealth, EQ Bank, Tangerine, and others that offer competitive rates and features tailored to your financial goals. Remember to compare different offerings to find the GIC that best suits your needs and maximizes your investment potential.
Frequently Asked Questions
The top GIC providers in Canada this July 2026 include: 1. WealthONE Bank of Canada with a rate of 4.10% for a 4-year term, minimum deposit of CA$1,000. 2. MCAN Wealth offering a rate of 4.05% for a 5-year term, minimum deposit of CA$1,000. 3. EQ Bank with a rate of 4.00% for a 5-year term, minimum deposit of CA$100.
WealthONE Bank of Canada offers an interest rate of 4.10% for their 4-year GIC.
The minimum deposit required for a GIC with MCAN Wealth is CA$1,000.
Guaranteed Investment Certificates (GICs) are secure investment products offered by banks and financial institutions that guarantee the principal amount and pay a fixed interest rate over a specified term.
GICs can have various terms, typically ranging from a few months to several years. For instance, WealthONE Bank of Canada offers a 4-year term, while MCAN Wealth offers a 5-year term.
Yes, GICs issued by member institutions are insured by the Canada Deposit Insurance Corporation (CDIC) up to CA$100,000 per depositor, per institution.
Withdrawing from a GIC before the term ends may result in penalties or a reduction in interest earned. It's important to check the specific terms and conditions of the GIC.
EQ Bank offers an interest rate of 4.00% for their 5-year 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 |
