GIC coverage — rate moves, term calls and market context. See current GIC rates →
Three Big Six banks raised GIC rates within eight days with the policy rate parked at 2.25%. The best 5-year GIC on our boards still pays 4.50%, almost a point above TD's new rate. The October roundup, from Ratehunter's own data.
A $50,000 five-rung GIC ladder built with the best rate per term on our boards earns $2,070 in year one, $501 more than the same ladder at big-bank average posted rates. Every rung priced from live board data, current to August 26.
A plain-English guide to how GICs work in Canada: terms, cashable vs non-redeemable, tax lanes, and why the best 1-year rate on our boards (4.00%) beats the big-bank posted average (2.93%) by more than a point.
The best 1-year GIC on our boards pays 4.00%; the top of our HISA board pays 2.75%. That 1.25-point gap is worth $125 a year on $10,000. How to price the choice between locking in and staying liquid, current to our August 26 data.
BMO lifted 16 GIC rates by a quarter point, Laurentian cut by 0.45, and the best 5-year GIC pays 1.35 points more than the big-bank average. The August roundup, from Ratehunter's own data.