3.85%
5 years
N/A
CA$1,000
Achieva Financial stands out as the top choice because it offers one of Canada’s leading 5-year GIC rates at 3.85% per annum, making it an excellent option for those looking to secure high returns on their investments.
Pros:
- High interest rate
- Unlimited deposit protection
Cons:
- Non-redeemable until maturity
- Minimum deposit required
3.80%
5 years
N/A
CA$1,000
What sets MCAN Wealth apart is its consistent ranking among the top market rates for 5-year GICs, currently offering a competitive rate of 3.80%, making it a strong contender for long-term savings.
Pros:
- CDIC-insured
- Competitive rates
Cons:
- Non-redeemable until maturity
- Minimum deposit required
3.80%
5 years
N/A
CA$1,000
Saven Financial shines for its competitive 5-year GIC rate of 3.80%, which is available for both registered and non-registered products, making it a versatile option for various investors.
Pros:
- Available for registered accounts
- High yields
Cons:
- Non-redeemable until maturity
- Minimum deposit required
3.80%
5 years
N/A
CA$1,000
Oaken Financial offers a strong 5-year GIC rate of 3.80%, backed by CDIC insurance, making it a reliable choice for those looking to secure their investments with competitive returns.
Pros:
- CDIC-insured
- Flexible interest payment options
Cons:
- Non-redeemable until maturity
- Minimum deposit required
3.60%
5 years
N/A
CA$100
Meridian Credit Union provides a competitive 5-year GIC option at a rate of 3.60%, making it accessible with a low minimum deposit of just CA$100, ideal for new investors.
Pros:
- Low minimum deposit
- Various account options
Cons:
- Lower rate compared to others
- Non-redeemable until maturity
3.55%
5 years
N/A
CA$100
LBC Digital offers a 5-year GIC at a rate of 3.55%, making it a solid choice for those looking for competitive returns with a very low minimum deposit requirement.
Pros:
- Competitive rates
- Low minimum deposit
Cons:
- Non-redeemable until maturity
- Online-only platform
Final Words
As you explore the best 5-year GIC rates in Canada this March 2026, consider top providers like MCAN Wealth, EQ Bank, and Oaken Financial, each offering competitive rates to help you reach your financial goals. Remember to compare rates and terms from various institutions to ensure you choose the option that best fits your investment strategy.
Frequently Asked Questions
As of March 2026, the best 5-year GIC rates in Canada include Achieva Financial offering a rate of 3.85%, MCAN Wealth with a rate of 3.80%, and Saven Financial also providing a rate of 3.80%.
The minimum deposit required for a 5-year GIC with Achieva Financial is CA$1,000.
MCAN Wealth offers a competitive 5-year GIC rate of 3.80%, which is the same as Saven Financial and slightly lower than Achieva Financial's rate of 3.85%.
Yes, the GICs offered by MCAN Wealth are CDIC-insured, providing a secure way to invest.
A Guaranteed Investment Certificate (GIC) is a secure investment that offers a guaranteed return over a specified term, typically with fixed interest rates.
Most GICs are non-redeemable until the end of the term, meaning you cannot access your funds before it matures without incurring penalties.
Investing in a 5-year GIC provides stability and predictability in your investment returns, as well as protection from market volatility.
The minimum deposit required for a 5-year GIC with Saven Financial is also CA$1,000.
Compare GIC Rates
Summary of all rates from our gic rate pages. Click column headers to sort.
| Provider ↕ | Rate ↓ | Term ↕ | Min Deposit | |
|---|---|---|---|---|
| Achieva Financial | 3.85% | 5 years | CA$1,000 | Learn more |
| Saven Financial | 3.80% | 5 years | CA$1,000 | Learn more |
| MCAN Wealth | 3.80% | 5 years | CA$1,000 | Learn more |
| Oaken Financial | 3.80% | 5 years | CA$1,000 | Learn more |
| EQ Bank | 3.75% | 5 years | CA$100 | Learn more |
| WealthONE Bank of Canada | 3.65% | 1 year | CA$1,000 | Learn more |
| Meridian Credit Union | 3.60% | 5 years | CA$100 | Learn more |
| LBC Digital | 3.55% | 5 years | CA$100 | Learn more |
| Hubert Financial | 3.45% | 1 year | CA$1,000 | Learn more |
