Today's Best GIC Rate

Rates Files

How does GICdirect get higher GIC rates for their Clients?

GICdirect has access to higher Guaranteed Investment Certificate (GIC) rates from our extensive network of Financial Institutions (Banks, Trust Companies and Credit Unions) across Canada. It is less expensive for Financial Institutions to issue GICs and provide higher GIC rates through deposit brokers like GICdirect because they do not incur the overhead costs that they do in their retail locations, therefore can pass on a higher GIC rate to you as a client.

How do I find out about Interest rate changes?

Guaranteed Investment Certificate rates or GIC rates are determined by each institution depending on their need and demand of funds or as they adjust to interest rate changes in the market. Most of our 40 institutions change their interest rates either daily or weekly.

GICdirect.com updates all GIC rates online twice a day at 8am and 4pm (PST) by province in the Rates and Locations pages.

Have rates ever been this low?

Due to the enduring global economic crisis, interest rates and Guaranteed Investment Certificate (GIC) rates continue at generational lows. The average return for any investor (high risk takers or conservative) over the past decade has not met expectations and “zero is the new hero,” where clients are highly focused on capital preservation at the expense of potential growth.” (Mackenzie Professional).

What is an Escalator Rate?

An escalator Guaranteed Investment Certificate or escalator GIC rate is a 5 year GIC that pays increasingly higher (escalating) rates of interest in each year of the term. They are also marketed as Rate Riser GIC's or Step-Rate GIC's.