4.00%
5 years
N/A
CA$1,000
Saven Financial stands out as the top choice because it offers some of the highest GIC rates in Canada, with flexible terms ranging from 1 to 5 years. Their unique tax-free growth options through TFSA and FHSA GICs provide additional benefits for savers.
Pros:
- High interest rates
- Tax-free growth options
Cons:
- Minimum deposit required
- Non-redeemable options
3.85%
5 years
N/A
CA$1,000
What sets Achieva Financial apart is its long-standing reputation for offering some of the highest interest rates in Canada, ensuring that your investment grows securely over time.
Pros:
- Competitive rates
- Guaranteed returns
Cons:
- Minimum deposit required
- Limited term options
3.EQ Bank
3.80%
5 years
N/A
CA$100
EQ Bank shines for its accessibility, allowing customers to start investing with a low minimum deposit of just CA$100. Their digital platform makes it easy to manage GICs across various terms.
Pros:
- Low minimum deposit
- Wide range of terms
Cons:
- Lower rates compared to top competitors
- Limited physical branches
3.80%
5 years
N/A
CA$1,000
A key differentiator for Hubert Financial is their focus on customer satisfaction, offering competitive rates and flexible terms that cater to a variety of savings goals.
Pros:
- Competitive rates
- Flexible terms
Cons:
- Minimum deposit required
- Limited promotional offers
4.00%
5 years
N/A
CA$1,000
MCAN Wealth offers a secure way to grow your savings with competitive GIC rates, making it an attractive option for those looking to invest in guaranteed returns.
Pros:
- High interest rates
- Secure investment
Cons:
- Minimum deposit required
- Limited term options
3.25%
2 years
N/A
CA$500
National Bank provides a variety of GIC options, including redeemable certificates, which offer flexibility for investors who may need access to their funds before maturity.
Pros:
- Multiple term options
- Redeemable options available
Cons:
- Lower rates compared to competitors
- Higher minimum deposit
Final Words
In conclusion, as you consider your options for the best GICs in Canada this May 2026, providers like Saven Financial, EQ Bank, Oaken Financial, and more stand out with competitive rates and features. Be sure to compare these offerings to find the GIC that best aligns with your financial goals and investment strategy.
Frequently Asked Questions
Saven Financial offers an interest rate of 4.00% for their 5-year GICs.
The minimum deposit required for a GIC at Achieva Financial is CA$1,000.
Achieva Financial offers a competitive interest rate of 3.85% for their 5-year GICs, which is slightly lower than Saven Financial's rate.
GICs provide a secure investment option with fixed interest rates, allowing your money to grow over time with minimal risk.
Yes, EQ Bank offers GICs with a minimum deposit of CA$100, making it accessible for smaller investors.
Saven Financial offers a term length of 5 years for their GICs.
Yes, GICs are considered a safe investment as they are guaranteed by the issuing bank and provide fixed returns.
EQ Bank offers an interest rate of 3.80% for their 5-year GICs.
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 |
