4.00%
5 years
N/A
CA$1,000
MCAN Wealth stands out as the top choice because it offers a robust 5-year GIC rate of 4.00%, which is among the highest in the market. Their commitment to security and low-risk investments makes them a reliable option for savers.
Pros:
- Competitive rate
- CDIC insured
Cons:
- Minimum deposit required
4.00%
5 years
N/A
CA$5,000
What sets Home Trust apart is its strong reputation as a reliable lender, coupled with a competitive 5-year GIC rate of 4.00%. Their focus on both personal and commercial needs makes them a versatile choice for investors.
Pros:
- Guaranteed returns
- Flexible terms
Cons:
- Higher minimum deposit
4.00%
5 years
N/A
CA$1,000
Saven Financial shines for its tax-free GIC options, allowing investors to maximize their returns while enjoying a solid 5-year rate of 4.00%. This provider is ideal for those looking to enhance their savings with minimal risk.
Pros:
- Tax-free growth options
- Competitive rates
Cons:
- Non-redeemable
4.00%
5 years
N/A
CA$1,000
A key differentiator for Oaken Financial is its commitment to providing some of the highest GIC rates available in Canada. Their 5-year GIC at 4.00% offers a great opportunity for those looking to secure their savings.
Pros:
- High interest rates
- Flexible options
Cons:
- Non-redeemable
3.85%
5 years
N/A
CA$1,000
Achieva Financial offers a solid 5-year GIC rate of 3.85%, making it a competitive option for those seeking reliable returns. Their user-friendly online platform enhances the overall customer experience.
Pros:
- Among the highest rates
- Easy online management
Cons:
- Lower rate compared to top providers
Final Words
In conclusion, as you navigate the landscape of 5-year GIC rates in Canada this May 2026, consider top providers like MCAN Wealth, which offers competitive rates at 4.00%, along with others that may suit your investment strategy. Remember to compare rates and terms across different institutions to ensure you select the best option for your financial goals.
Frequently Asked Questions
The best 5-year GIC rates in Canada this May 2026 include MCAN Wealth and Home Trust, both offering a rate of 4.00%.
The minimum deposit required for a 5-year GIC with MCAN Wealth is CA$1,000.
The minimum deposit required for a 5-year GIC with Home Trust is CA$5,000.
Some of the top providers for 5-year GICs in Canada include MCAN Wealth, Home Trust, and Saven Financial.
A GIC (Guaranteed Investment Certificate) is a low-risk deposit type investment where you agree to leave your money with a financial institution for a set term in exchange for a guaranteed interest rate.
The interest rate on a GIC is the percentage of your initial investment that the financial institution will pay you over the term of the GIC, typically paid at maturity or periodically, depending on the terms.
If you need to access your money before the GIC term ends, you may face penalties such as reduced interest rates or fees, depending on the institution's policies.
Yes, GICs are insured in Canada by the Canada Deposit Insurance Corporation (CDIC) up to certain limits, protecting your investment in the event of a bank failure.
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 |
