GIC rate update
WealthONE Pays the Top GIC Rate at Every Term from 1 to 5 Years
- WealthONE now leads every term from 1 to 5 years: 4.05% / 4.30% / 4.40% / 4.45% / 4.55%. We started tracking Wealth One Bank of Canada this week, and its rates are dated October 26, so this is a new bank in our ranking, not a rate increase.
- Haventree Bank is second for 1 year at 4.00%, and Outlook Financial ties Achieva at 3.95%. Both are also newly tracked. Hubert Financial (3.85%) and Saven (3.80%) drop out of the 1-year top three without changing their rates.
- Tangerine raised its 1- to 4-year GICs by 5 to 25 basis points: 1-year 3.60% → 3.75%, 18-month 3.75% → 4.00%, 2-year 3.85% → 4.05%, 3-year 4.10% → 4.15% and 4-year 4.15% → 4.20%. Its 5-year stays at 4.25%.
- Peoples Bank cut its GIC rates. On October 29 its tab on the Peoples Group rates page showed the same rates as Peoples Trust; now it pays 2.55% for 1 year and 2.85% for 5 years. Peoples Trust still pays 3.70% and 3.45%.
- Oaken, Saven, EQ Bank, Achieva, Hubert, Simplii, Manulife and all Big Six banks held their fixed GIC rates. The best Big Six 1-year rate is still 3.00%.
GIC specials this week
| Bank and GIC | Rate | Conditions |
|---|---|---|
| Vancity364-day USD Short-Term Redeemable Term Deposit (special), 364 days | 4.25% | US dollars; new deposits to Vancity |
| RBCU.S. Dollar Term Deposit, 1 year | 4.00% | US dollars; book an appointment |
| Libro18-month GIC special (new funds), 18 months | 3.85% | new funds; by phone or appointment only |
| Vancity13-month Non-Redeemable Term Deposit (special offer), 13 months | 3.75% | Limited time |
| ATBGrow Alberta GIC, 18 months | 3.70% | Limited time |
| DesjardinsOnline Term S@vings (promotional), 26 months | 3.60% | Limited time |
| Innovation Credit Union1-Year New Money GIC (special), 1 year | 3.60% | new money; ends November 15 |
| RBCNon-Redeemable GIC, 5 years | 3.55% | Limited time |
| DesjardinsTerm Savings (promotional, branch), 29 months | 3.50% | Limited time |
| ScotiabankNon-Redeemable GIC (special), 2 years | 3.50% | Limited time |
| Conexus3-year non-redeemable term deposit (offer), 3 years | 3.45% | Limited time |
| TDTD Special Offer GIC, 18 months | 3.25% | Limited time |
| CIBCCIBC Bonus Rate GIC, 2 years | 3.20% | Limited time |
| Coast Capital1 Year Redeemable GIC – New Money (featured), 1 year | 3.00% | net new funds deposited on or after Aug 17, 2026; branch or advice centre only |
Specials are time-limited and are not ranked against the standard rates below. Confirm the terms on the bank’s own site.
Top GIC rates this week, by term
| Term | Highest rates this week |
|---|---|
| 1 year |
|
| 2 years |
Big Six best: Scotiabank 3.50% (special rate) |
| 3 years | |
| 4 years | Big Six best: CIBC 3.40% (investment account) |
| 5 years | Big Six best: CIBC 3.60% (investment account) |
Standard rates: Canadian-dollar, non-registered, non-redeemable GICs with annual or at-maturity interest. Bank names link to each bank’s own rate page.
What changed since October 29
| Bank | Term | Before | Now | Change |
|---|---|---|---|---|
| Tangerine | 1 year / 18 months / 2 years / 3 years / 4 years | 3.60 / 3.75 / 3.85 / 4.10 / 4.15% | 3.75 / 4.00 / 4.05 / 4.15 / 4.20% | +5 to +25 bp |
| CIBC | 1 year | 1.75% | 2.00% | +25 bp |
| Peoples Bank * | 1 year / 2 years / 3 years / 4 years / 5 years | 3.70 / 3.00 / 3.25 / 3.25 / 3.45% | 2.55 / 2.60 / 2.65 / 2.80 / 2.85% | −115 to −40 bp |
* Peoples Bank: the Peoples Group rates page has a Peoples Trust tab and a Peoples Bank tab. On October 29 both showed the figures in the Before column; on November 2 only the Peoples Bank tab changed. Our ranking lists the Peoples Trust rates as Peoples Trust. The CIBC row is its Variable Rate GIC, which is tied to CIBC’s prime rate. WealthONE, Haventree Bank, Outlook Financial and Coast Capital were first checked on November 2, so they have no earlier figures to compare.
Our take
Six days after the Bank of Canada’s October 28 hike, Tangerine is the first large online bank to raise its 1- to 5-year GIC rates. The other leaders, Oaken, Saven and EQ Bank’s 1- to 5-year terms, have not moved. Tangerine’s 18-month and 2-year terms now pay 4.00% and 4.05%, which puts it close to the top group at 2 years.
WealthONE’s lead is real but it is not news about the hike: its table was dated October 26 and we had not tracked it before. Wealth One Bank of Canada says its GICs are non-redeemable and eligible for CDIC coverage, the minimum is $1,000, and the same rates apply in its TFSA and RSP accounts. Its account terms say a 1-year GIC pays simple interest at maturity, and longer terms pay interest annually or compound it to maturity. WealthONE is not offered in Quebec.
Haventree Bank’s GICs are also non-redeemable, with interest paid annually or compounded, and its registered 1-year rate (4.25%) is higher than the non-registered rate we rank (4.00%). Outlook Financial is a division of Assiniboine Credit Union in Manitoba; its deposits are guaranteed in full by the Deposit Guarantee Corporation of Manitoba (DGCM), interest is paid on each anniversary, and its rates page does not say whether customers outside Manitoba can open an account.
How we checked
On November 2, 2026 we read the GIC rate pages of 29 Canadian banks and credit unions and recorded every rate shown. How we check these rates →
Keep comparing
The best GIC rates in Canada page always shows the ranking from our latest check. For one bank over time, see our reviews of EQ Bank GIC rates, Oaken GIC rates, CIBC GIC rates and TD GIC rates, each with every rate change we have recorded.
