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Rates Guide·Updated monthly from official sources

Best Credit Union GIC Rates in Canada 2026

Compare 1-year, 3-year, and 5-year guaranteed investment certificate rates across 183+ Canadian credit unions: member-owned institutions with competitive guaranteed returns and strong deposit protection.

183+ credit unions trackedVerified directly from official sources
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100% safe

principal + interest guaranteed regardless of market conditions

Unlimited

deposit insurance in BC, AB, SK, MB & NL, even on large GICs

TFSA eligible

hold a GIC inside your TFSA for completely tax-free returns

Top GIC rates by term

Rates sourced directly from official credit union websites. Shown highest first within each term.

Most credit unions serve residents of their home province only. Nationally accessible options are marked Open to all. Check eligibility before purchasing a GIC.

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Rates shown are for standard non-redeemable GICs unless otherwise indicated. Rates are subject to change. Always confirm the current rate directly with the credit union before purchasing.

What is a Guaranteed Investment Certificate?

A Guaranteed Investment Certificate (GIC) is a type of Canadian deposit where you commit a lump sum for a fixed period, typically 30 days to 5 years, and receive a guaranteed interest rate in return. Unlike stocks or mutual funds, your principal cannot lose value.

GICs are issued by banks, credit unions, and trust companies. The rate is locked in at purchase, so your return is predictable regardless of what happens to interest rates during the term.

Credit unions are among the most competitive GIC issuers in Canada because their cooperative structure allows them to pass more earnings to depositors. For Canadians building fixed-income portfolios or managing short-to-medium term savings, credit union GICs often deliver the best risk-adjusted return available.

GIC at a glance

ReturnGuaranteed, never loses value
Rate typeFixed for the term
LiquidityNon-redeemable: locked. Redeemable: early access with penalty
Deposit insuranceUnlimited in BC, AB, SK, MB, and NL
Tax treatmentInterest taxed as income (unless inside TFSA/RRSP)
Best forCapital preservation, fixed-income ladder, registered accounts

How to choose a GIC term

The right GIC term depends on when you'll need your money, your rate expectations, and whether you want to ladder your maturities.

01

1-Year GIC

Best if you…

  • Uncertain about future rate movements
  • Saving for something in the next 12 months
  • Want to reassess your options annually
  • Rate shopping: lock in without long commitment
02

3-Year GIC

Best if you…

  • Expect rates to fall over the next few years
  • Medium-term goal (home renovation, education)
  • Building a GIC ladder
  • Want a higher rate than 1-year without full 5-year lock-in
03

5-Year GIC

Best if you…

  • Rate environment expected to decline long-term
  • Long-term savings goals (retirement contribution)
  • Highest fixed rate available today
  • Inside an RRSP or TFSA where liquidity is less critical

GIC laddering tip

A GIC ladder splits your investment across multiple terms (e.g. 1-, 2-, 3-, 4-, and 5-year GICs). As each matures, you reinvest at the prevailing rate. This gives you regular liquidity windows while still earning rates closer to longer-term GICs.

GIC frequently asked questions

What is a GIC?

A Guaranteed Investment Certificate (GIC) is a Canadian deposit product where you agree to leave your money with a financial institution for a fixed term, typically 30 days to 5 years, in exchange for a guaranteed interest rate. At maturity, you receive your original principal plus the interest earned. GICs are one of the safest investments available to Canadians.

Are GIC rates at credit unions higher than at banks?

Generally, yes. Credit unions are member-owned cooperatives without external shareholders, so they compete aggressively for deposits by offering higher GIC rates than the Big Five banks. The difference is especially pronounced on longer terms (3 and 5 years), where credit unions often offer 0.5–1.5% more than comparable bank GICs.

Is a GIC at a credit union safe?

Yes. GICs at Canadian credit unions are covered by provincial deposit insurers. In BC, AB, SK, MB, and NL, the coverage is unlimited, meaning even a $1 million GIC is fully protected. Ontario, New Brunswick, Nova Scotia, and PEI cover up to $250,000 per insured category. Quebec covers up to $100,000 per depositor per category through the AMF's Fonds d'assurance-dépôts. This protection applies even to non-redeemable GICs.

What's the difference between redeemable and non-redeemable GICs?

A redeemable GIC lets you withdraw your money before the end of the term, usually with a penalty or reduced interest rate. A non-redeemable GIC locks your funds until maturity but typically offers a higher rate in exchange. If you don't need the money for the full term, non-redeemable GICs usually deliver better returns.

Can I hold a GIC inside a TFSA or RRSP?

Yes. Holding a GIC inside a TFSA means the interest you earn is completely tax-free. Inside an RRSP, the interest grows tax-deferred until withdrawal. Most credit unions offer registered GICs; confirm when you apply that you're purchasing a registered account product.

How is GIC interest compounded?

GIC interest can be paid annually, semi-annually, monthly, or compounded to maturity depending on the product. Compound GICs (where interest earns interest) produce a higher total return than annual-pay GICs with the same stated rate. Always ask about the compounding frequency when comparing GIC quotes.

What happens if I need my money before the GIC matures?

For non-redeemable GICs, early redemption is generally not possible unless there are special circumstances (e.g., death of the depositor). For redeemable GICs, you can usually access your money but may receive a lower interest rate. Always read the GIC terms before committing if liquidity is a concern.

Rate accuracy notice: GIC rates shown are sourced directly from each credit union's official website and are updated on a rolling basis. Rates can change without notice and may not reflect today's live offerings. Terms and conditions, including minimum deposit requirements and early redemption penalties, vary by institution. Always confirm current rates and terms directly with the credit union before investing. Learn about our methodology →

Find the best GIC rate for your term

Browse our full directory sorted by GIC rate: compare 1-, 3-, and 5-year terms across 183+ Canadian credit unions.

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