Rate tracker · GICs and savings
GIC and savings rates in Canada, with ten years of history
The six big banks’ typical posted 1-year GIC rate was 2.45% in the week of Wednesday, October 28, 2026 (2.45% a year earlier), with 3-year at 3.2% and 5-year at 2.75%, according to the Bank of Canada. Their posted savings rate was 0.01%. Smaller and online institutions usually post more — see the highest posted savings rates below.
Bank of Canada data to Oct 2026
How big-bank posted rates have moved since 2016
Show the numbers
| Month | 5-year GIC | 3-year GIC | 1-year GIC | Non-chequable savings | Bank of Canada policy rate |
|---|---|---|---|---|---|
| Oct 2026 | — | — | — | — | 2.5% |
| Oct 2026 | 2.75% | 3.2% | 2.45% | 0.01% | — |
| Sep 2026 | 2.75% | 3.2% | 2.45% | 0.01% | 2.25% |
| Aug 2026 | — | — | — | — | 2.25% |
| Aug 2026 | 2.75% | 2.55% | 2.45% | 0.01% | — |
| Jul 2026 | — | — | — | — | 2.25% |
| Jul 2026 | 2.75% | 2.55% | 2.7% | 0.01% | — |
| Jun 2026 | — | — | — | — | 2.25% |
| Jun 2026 | 2.75% | 2.55% | 2.7% | 0.01% | — |
| May 2026 | — | — | — | — | 2.25% |
| May 2026 | 2.75% | 2.75% | 2.7% | 0.01% | — |
| Apr 2026 | — | — | — | — | 2.25% |
| Apr 2026 | 2.75% | 2.75% | 2.7% | 0.01% | — |
| Mar 2026 | — | — | — | — | 2.25% |
| Mar 2026 | 2.75% | 2.52% | 2.45% | 0.01% | — |
| Feb 2026 | — | — | — | — | 2.25% |
| Feb 2026 | 2.75% | 2.45% | 2.45% | 0.01% | — |
| Jan 2026 | — | — | — | — | 2.25% |
| Jan 2026 | 2.75% | 2.52% | 2.45% | 0.01% | — |
| Dec 2025 | 2.75% | 2.52% | 2.45% | 0.01% | 2.25% |
| Nov 2025 | — | — | — | — | 2.25% |
| Nov 2025 | 2.75% | 2.45% | 2.45% | 0.01% | — |
| Oct 2025 | — | — | — | — | 2.25% |
| Oct 2025 | 2.75% | 2.45% | 2.45% | 0.01% | — |
| Sep 2025 | — | — | — | — | 2.5% |
| Sep 2025 | 2.9% | 2.67% | 2.62% | 0.01% | — |
| Aug 2025 | — | — | — | — | 2.75% |
| Aug 2025 | 2.9% | 2.67% | 2.62% | 0.01% | — |
| Jul 2025 | — | — | — | — | 2.75% |
| Jul 2025 | 2.9% | 2.67% | 2.62% | 0.01% | — |
| Jun 2025 | — | — | — | — | 2.75% |
| Jun 2025 | 2.9% | 2.65% | 2.62% | 0.01% | — |
| May 2025 | — | — | — | — | 2.75% |
| May 2025 | 2.9% | 2.65% | 2.62% | 0.01% | — |
| Apr 2025 | 2.9% | 2.7% | 2.7% | 0.01% | 2.75% |
| Mar 2025 | — | — | — | — | 2.75% |
| Mar 2025 | 3.25% | 2.9% | 2.7% | 0.01% | — |
| Feb 2025 | — | — | — | — | 3% |
| Feb 2025 | 3.25% | 3.05% | 2.7% | 0.01% | — |
| Jan 2025 | — | — | — | — | 3% |
| Jan 2025 | 3.2% | 2.97% | 3% | 0.01% | — |
| Dec 2024 | — | — | — | — | 3.25% |
| Dec 2024 | 3.2% | 2.97% | 3% | 0.01% | — |
| Nov 2024 | — | — | — | — | 3.75% |
| Nov 2024 | 3.2% | 3.2% | 3.3% | 0.01% | — |
| Oct 2024 | — | — | — | — | 3.75% |
| Oct 2024 | 3.3% | 3.1% | 3.4% | 0.01% | — |
| Sep 2024 | — | — | — | — | 4.25% |
| Sep 2024 | 3.3% | 3.3% | 3.65% | 0.01% | — |
| Aug 2024 | — | — | — | — | 4.5% |
| Aug 2024 | 3.5% | 3.52% | 3.9% | 0.01% | — |
| Jul 2024 | 3.85% | 3.9% | 4% | 0.01% | 4.5% |
| Jun 2024 | — | — | — | — | 4.75% |
| Jun 2024 | 3.95% | 3.9% | 4% | 0.01% | — |
| May 2024 | — | — | — | — | 5% |
| May 2024 | 3.95% | 3.92% | 4% | 0.01% | — |
| Apr 2024 | — | — | — | — | 5% |
| Apr 2024 | 3.95% | 3.92% | 4.4% | 0.01% | — |
| Mar 2024 | — | — | — | — | 5% |
| Mar 2024 | 3.95% | 3.92% | 4.6% | 0.01% | — |
| Feb 2024 | — | — | — | — | 5% |
| Feb 2024 | 3.95% | 3.92% | 4.6% | 0.01% | — |
| Jan 2024 | 3.95% | 3.92% | 4.6% | 0.01% | 5% |
| Dec 2023 | — | — | — | — | 5% |
| Dec 2023 | 3.9% | 4% | 4.65% | 0.01% | — |
| Nov 2023 | — | — | — | — | 5% |
| Nov 2023 | 4.9% | 4.02% | 4.9% | 0.01% | — |
| Oct 2023 | — | — | — | — | 5% |
| Oct 2023 | 4.27% | 4.02% | 4.92% | 0.01% | — |
| Sep 2023 | — | — | — | — | 5% |
| Sep 2023 | 4.35% | 4.02% | 5.1% | 0.01% | — |
| Aug 2023 | — | — | — | — | 5% |
| Aug 2023 | 4.35% | 4% | 5.1% | 0.01% | — |
| Jul 2023 | — | — | — | — | 5% |
| Jul 2023 | 3.75% | 3.5% | 3.25% | 0.01% | — |
| Jun 2023 | — | — | — | — | 4.75% |
| Jun 2023 | 3.75% | 3.5% | 4.45% | 0.01% | — |
| May 2023 | 3.4% | 3.3% | 4.45% | 0.01% | 4.5% |
| Apr 2023 | — | — | — | — | 4.5% |
| Apr 2023 | 3.23% | 3.13% | 3.03% | 0.01% | — |
| Mar 2023 | — | — | — | — | 4.5% |
| Mar 2023 | 3.23% | 3.13% | 3.03% | 0.01% | — |
| Feb 2023 | — | — | — | — | 4.5% |
| Feb 2023 | 3.23% | 3.13% | 3% | 0.01% | — |
| Jan 2023 | — | — | — | — | 4.5% |
| Jan 2023 | 3.23% | 3.75% | 3% | 0.01% | — |
| Dec 2022 | — | — | — | — | 4.25% |
| Dec 2022 | 3.45% | 3.75% | 3% | 0.01% | — |
| Nov 2022 | 3.45% | 3.75% | 3% | 0.01% | 3.75% |
| Oct 2022 | — | — | — | — | 3.75% |
| Oct 2022 | 3.45% | 2.75% | 2% | 0.01% | — |
| Sep 2022 | — | — | — | — | 3.25% |
| Sep 2022 | 3.45% | 2.75% | 2% | 0.01% | — |
| Aug 2022 | 3.45% | 2.75% | 2% | 0.01% | 2.5% |
| Jul 2022 | — | — | — | — | 2.5% |
| Jul 2022 | 3.45% | 2.75% | 2% | 0.01% | — |
| Jun 2022 | — | — | — | — | 1.5% |
| Jun 2022 | 2.95% | 2.75% | 2% | 0.01% | — |
| May 2022 | — | — | — | — | 1% |
| May 2022 | 2.5% | 2.2% | 1.25% | 0.01% | — |
| Apr 2022 | — | — | — | — | 1% |
| Apr 2022 | 2.5% | 1.75% | 1.25% | 0.01% | — |
| Mar 2022 | — | — | — | — | 0.5% |
| Mar 2022 | 2.28% | 2.1% | 0.95% | 0.01% | — |
| Feb 2022 | — | — | — | — | 0.25% |
| Feb 2022 | 1.75% | 1.35% | 0.6% | 0.01% | — |
| Jan 2022 | — | — | — | — | 0.25% |
| Jan 2022 | 1.75% | 0.95% | 0.4% | 0.01% | — |
| Dec 2021 | — | — | — | — | 0.25% |
| Dec 2021 | 1.25% | 0.95% | 0.35% | 0.01% | — |
| Nov 2021 | — | — | — | — | 0.25% |
| Nov 2021 | 1% | 0.6% | 0.25% | 0.01% | — |
| Oct 2021 | — | — | — | — | 0.25% |
| Oct 2021 | 1% | 0.6% | 0.25% | 0.01% | — |
| Sep 2021 | 1% | 0.6% | 0.25% | 0.01% | 0.25% |
| Aug 2021 | — | — | — | — | 0.25% |
| Aug 2021 | 1% | 0.6% | 0.25% | 0.01% | — |
| Jul 2021 | — | — | — | — | 0.25% |
| Jul 2021 | 1% | 0.6% | 0.25% | 0.01% | — |
| Jun 2021 | 1% | 0.6% | 0.25% | 0.01% | 0.25% |
| May 2021 | — | — | — | — | 0.25% |
| May 2021 | 1% | 0.6% | 0.25% | 0.01% | — |
| Apr 2021 | — | — | — | — | 0.25% |
| Apr 2021 | 1% | 0.5% | 0.25% | 0.01% | — |
| Mar 2021 | 1.05% | 0.5% | 0.25% | 0.01% | 0.25% |
| Feb 2021 | — | — | — | — | 0.25% |
| Feb 2021 | 0.8% | 0.5% | 0.3% | 0.01% | — |
| Jan 2021 | — | — | — | — | 0.25% |
| Jan 2021 | 0.8% | 0.6% | 0.35% | 0.01% | — |
| Dec 2020 | — | — | — | — | 0.25% |
| Dec 2020 | 0.8% | 0.6% | 0.35% | 0.01% | — |
| Nov 2020 | — | — | — | — | 0.25% |
| Nov 2020 | 0.85% | 0.6% | 0.35% | 0.01% | — |
| Oct 2020 | — | — | — | — | 0.25% |
| Oct 2020 | 0.85% | 0.6% | 0.35% | 0.01% | — |
| Sep 2020 | 0.85% | 0.6% | 0.35% | 0.01% | 0.25% |
| Aug 2020 | — | — | — | — | 0.25% |
| Aug 2020 | 0.95% | 0.6% | 0.43% | 0.01% | — |
| Jul 2020 | — | — | — | — | 0.25% |
| Jul 2020 | 1.05% | 0.75% | 0.55% | 0.01% | — |
| Jun 2020 | — | — | — | — | 0.25% |
| Jun 2020 | 1.5% | 1% | 0.75% | 0.01% | — |
| May 2020 | — | — | — | — | 0.25% |
| May 2020 | 1.5% | 1.15% | 0.75% | 0.01% | — |
| Apr 2020 | — | — | — | — | 0.25% |
| Apr 2020 | 1.5% | 1.15% | 0.75% | 0.05% | — |
| Mar 2020 | — | — | — | — | 0.25% |
| Mar 2020 | 1.5% | 1.15% | 1% | 0.05% | — |
| Feb 2020 | — | — | — | — | 1.75% |
| Feb 2020 | 2% | 1.8% | 1.35% | 0.05% | — |
| Jan 2020 | — | — | — | — | 1.75% |
| Jan 2020 | 2% | 1.8% | 1.35% | 0.05% | — |
| Dec 2019 | — | — | — | — | 1.75% |
| Dec 2019 | 2% | 1.8% | 1.35% | 0.05% | — |
| Nov 2019 | — | — | — | — | 1.75% |
| Nov 2019 | 2% | 1.8% | 1.35% | 0.05% | — |
| Oct 2019 | — | — | — | — | 1.75% |
| Oct 2019 | 2% | 1.8% | 1.35% | 0.05% | — |
| Sep 2019 | — | — | — | — | 1.75% |
| Sep 2019 | 2% | 1.8% | 1.35% | 0.05% | — |
| Aug 2019 | — | — | — | — | 1.75% |
| Aug 2019 | 2% | 1.8% | 1.35% | 0.05% | — |
| Jul 2019 | 2% | 1.8% | 1.35% | 0.05% | 1.75% |
| Jun 2019 | — | — | — | — | 1.75% |
| Jun 2019 | 1.9% | 1.8% | 1.35% | 0.05% | — |
| May 2019 | — | — | — | — | 1.75% |
| May 2019 | 2.2% | 1.55% | 1.35% | 0.05% | — |
| Apr 2019 | — | — | — | — | 1.75% |
| Apr 2019 | 2.2% | 1.55% | 1.35% | 0.05% | — |
| Mar 2019 | — | — | — | — | 1.75% |
| Mar 2019 | 2.2% | 1.5% | 1.3% | 0.05% | — |
| Feb 2019 | — | — | — | — | 1.75% |
| Feb 2019 | 2.2% | 1.5% | 1.3% | 0.05% | — |
| Jan 2019 | — | — | — | — | 1.75% |
| Jan 2019 | 2.2% | 1.5% | 1.3% | 0.05% | — |
| Dec 2018 | — | — | — | — | 1.75% |
| Dec 2018 | 2.2% | 1.5% | 1.3% | 0.05% | — |
| Nov 2018 | — | — | — | — | 1.75% |
| Nov 2018 | 2.2% | 1.5% | 1.3% | 0.05% | — |
| Oct 2018 | 1.6% | 1.45% | 1.08% | 0.05% | 1.75% |
| Sep 2018 | — | — | — | — | 1.5% |
| Sep 2018 | 1.6% | 1.4% | 1.08% | 0.05% | — |
| Aug 2018 | — | — | — | — | 1.5% |
| Aug 2018 | 1.48% | 1.33% | 1.08% | 0.05% | — |
| Jul 2018 | — | — | — | — | 1.5% |
| Jul 2018 | 1.6% | 1.1% | 0.73% | 0.05% | — |
| Jun 2018 | — | — | — | — | 1.25% |
| Jun 2018 | 1.6% | 1.1% | 0.73% | 0.05% | — |
| May 2018 | — | — | — | — | 1.25% |
| May 2018 | 1.6% | 1.1% | 0.73% | 0.05% | — |
| Apr 2018 | — | — | — | — | 1.25% |
| Apr 2018 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Mar 2018 | — | — | — | — | 1.25% |
| Mar 2018 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Feb 2018 | 1.6% | 1.35% | 0.73% | 0.05% | 1.25% |
| Jan 2018 | 1.6% | 1.35% | 0.73% | 0.05% | 1.25% |
| Dec 2017 | — | — | — | — | 1% |
| Dec 2017 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Nov 2017 | — | — | — | — | 1% |
| Nov 2017 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Oct 2017 | — | — | — | — | 1% |
| Oct 2017 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Sep 2017 | — | — | — | — | 1% |
| Sep 2017 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Aug 2017 | — | — | — | — | 0.75% |
| Aug 2017 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Jul 2017 | — | — | — | — | 0.75% |
| Jul 2017 | 1.6% | 1.35% | 0.73% | 0.05% | — |
| Jun 2017 | — | — | — | — | 0.5% |
| Jun 2017 | 1.13% | 1.03% | 0.73% | 0.05% | — |
| May 2017 | 1.13% | 1.03% | 0.73% | 0.05% | 0.5% |
| Apr 2017 | — | — | — | — | 0.5% |
| Apr 2017 | 1.13% | 1% | 0.73% | 0.05% | — |
| Mar 2017 | — | — | — | — | 0.5% |
| Mar 2017 | 1.13% | 1% | 0.73% | 0.05% | — |
| Feb 2017 | — | — | — | — | 0.5% |
| Feb 2017 | 1.13% | 1% | 0.73% | 0.05% | — |
| Jan 2017 | — | — | — | — | 0.5% |
| Jan 2017 | 1.45% | 1.15% | 0.73% | 0.05% | — |
| Dec 2016 | — | — | — | — | 0.5% |
| Dec 2016 | 1.45% | 1.15% | 0.73% | 0.05% | — |
| Nov 2016 | 1.45% | 1.15% | 0.73% | 0.05% | 0.5% |
| Oct 2016 | — | — | — | — | 0.5% |
| Oct 2016 | 1.45% | 1.15% | 0.73% | 0.05% | — |
| Sep 2016 | — | — | — | — | 0.5% |
| Sep 2016 | 1.38% | 1.15% | 0.85% | 0.05% | — |
| Aug 2016 | 1.38% | 1.15% | 0.85% | 0.05% | 0.5% |
| Jul 2016 | — | — | — | — | 0.5% |
| Jul 2016 | 1.38% | 1.15% | 0.85% | 0.05% | — |
| Jun 2016 | — | — | — | — | 0.5% |
| Jun 2016 | 1.38% | 1.15% | 0.85% | 0.05% | — |
| May 2016 | — | — | — | — | 0.5% |
| May 2016 | 1.38% | 1.15% | 0.85% | 0.05% | — |
| Apr 2016 | — | — | — | — | 0.5% |
| Apr 2016 | 1.38% | 1.15% | 0.85% | 0.05% | — |
| Mar 2016 | — | — | — | — | 0.5% |
| Mar 2016 | 1.38% | 1.15% | 0.85% | 0.05% | — |
| Feb 2016 | — | — | — | — | 0.5% |
| Feb 2016 | 1.5% | 1.03% | 0.85% | 0.05% | — |
| Jan 2016 | — | — | — | — | 0.5% |
| Jan 2016 | 1.5% | 1.03% | 0.85% | 0.05% | — |
Source: Bank of Canada Valet API, group CHARTERED_BANK_INTEREST (series V80691339, V80691340, V80691341, V80691338 — the most typical rates offered by the six major chartered banks, weekly; last observation of each month shown) and the target for the overnight rate (V39079). Retrieved 2026-11-01.
Highest posted savings rates on $10,000
From the account database (FCAC-listed posted rates, nationwide accounts open to anyone). The full list, with fees, is in the savings ranking.
- 30 Day Notice Savings Account (EQ Bank) — 2.75%, about $275 a year after fees
- Savings (Wealthsimple) — 2.5%, about $250 a year after fees
- 10 Day Notice Savings Account (EQ Bank) — 2.35%, about $235 a year after fees
- Neo Savings (Essentials) (Neo Financial) — 2%, about $200 a year after fees
- High Interest Savings Account (HISA) (Equitable Bank) — 1.9%, about $190 a year after fees
- Advantage Account (savings & chequing) (Manulife Bank) — 1.5%, about $150 a year after fees
- e-Savings Account (Peoples Group) — 1.2%, about $120 a year after fees
- High Interest eSavings Account (Alterna Bank) — 1.05%, about $105 a year after fees
A GIC’s $100,000 CDIC limit includes the interest. The GIC split planner works out how much principal to place at each member so every certificate stays covered to maturity.
Frequently asked questions
Are GICs covered by CDIC?
Yes, GICs and other term deposits at a CDIC member are covered up to $100,000 (principal and interest) per insured category. Since April 30, 2020 there is no term limit, and foreign-currency GICs are covered too. Use the GIC split planner to stay under the limit.
Why are big-bank posted rates lower than online banks’ rates?
The Bank of Canada series shows the most typical posted rate at the six largest banks. Their branches often negotiate or run promotions above the posted rate, and online banks and smaller institutions usually post higher rates to attract deposits. Compare the institution table below.
GIC or high-interest savings account?
A GIC locks the money for the term in exchange for a fixed rate; a savings account pays a rate that can change at any time but lets you withdraw. If you may need the money before the term ends, look for cashable or redeemable GICs, which usually pay less.
How often is this updated?
The Bank of Canada series updates weekly; we refresh it with each site update. Institution rates are a dated snapshot from their own pages — we keep each snapshot so the table builds a history over time.
Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.