3.65%
1 year
N/A
CA$1,000
WealthONE Bank of Canada stands out as the top choice because it offers one of the highest interest rates for a 1-year GIC, ensuring that your investment grows securely over time.
Pros:
- High interest rate
- Secure investment
Cons:
- Minimum deposit required
3.60%
1 year
N/A
CA$1,000
What sets Achieva Financial apart is its long-standing reputation for offering straightforward and competitive GIC rates, making it a reliable choice for investors.
Pros:
- Competitive rates
- Flexible terms
Cons:
- Minimum deposit required
3.55%
1 year
N/A
CA$1,000
The standout feature here is Saven Financial's focus on providing tax-free growth options through their TFSA GICs, appealing to those looking to maximize their savings.
Pros:
- Tax-free growth options
- Secure investment
Cons:
- Minimum deposit required
3.25%
1 year
N/A
CA$1,000
Oaken Financial shines for its customer-centric approach, offering flexible deposit options and a commitment to high-quality service, although its rates are slightly lower than the top competitors.
Pros:
- Flexible deposit amounts
- Strong customer service
Cons:
- Lower rate compared to others
5.EQ Bank
3.20%
1 year
N/A
CA$100
EQ Bank is particularly appealing for those who prefer a low minimum deposit requirement, making it accessible for a wider range of investors, despite offering a lower interest rate.
Pros:
- Low minimum deposit
- Easy online access
Cons:
- Lower interest rate
Final Words
In conclusion, as you explore the best 1-year GIC rates in Canada this May 2026, consider top providers like WealthONE Bank of Canada, EQ Bank, Oaken Financial, and Hubert Financial, all offering competitive interest rates to help you grow your savings securely. Remember to compare rates and terms to ensure you choose the best option for your financial goals.
Frequently Asked Questions
The best 1-year GIC rates in Canada for May 2026 include WealthONE Bank of Canada at 3.65%, Achieva Financial at 3.60%, and Saven Financial at 3.55%.
The minimum deposit required for a 1-year GIC at WealthONE Bank of Canada is CA$1,000.
Achieva Financial offers a 1-year GIC with an interest rate of 3.60% and a minimum deposit requirement of CA$1,000.
Guaranteed Investment Certificates (GICs) are secure investment products that guarantee the return of your principal investment at maturity, along with a fixed interest rate earned over the term.
Yes, GICs are considered a safe investment option as they guarantee the return of your deposited amount and interest, making them a low-risk way to grow your savings.
When choosing a GIC provider, consider factors such as the interest rate offered, the minimum deposit requirement, the term length, and whether the investment is insured by the Canada Deposit Insurance Corporation (CDIC).
Generally, GICs are locked in for the term length, and early withdrawal may result in penalties or loss of interest. It's important to check the specific terms and conditions with your provider.
Compare GIC Rates
Summary of all rates from our gic rate pages. Click column headers to sort.
| Provider ↕ | Rate ↓ | Term ↕ | Min Deposit | |
|---|---|---|---|---|
| Saven Financial | 4.00% | 5 years | CA$1,000 | Learn more |
| Oaken Financial | 4.00% | 5 years | CA$1,000 | Learn more |
| MCAN Wealth | 4.00% | 5 years | CA$1,000 | Learn more |
| Home Trust | 4.00% | 5 years | CA$5,000 | Learn more |
| Achieva Financial | 3.85% | 5 years | CA$1,000 | Learn more |
| EQ Bank | 3.80% | 5 years | CA$100 | Learn more |
| Hubert Financial | 3.80% | 5 years | CA$1,000 | Learn more |
| WealthONE Bank of Canada | 3.65% | 1 year | CA$1,000 | Learn more |
| National Bank | 3.25% | 2 years | CA$500 | Learn more |
| Tangerine Bank | 2.65% | 6 months | CA$1,000 | Learn more |
