Savings — GICs and High-Interest Savings Accounts

To help you save so you can spend, WhatBank tracks the best Guaranteed Investment Certificates (GICs) and non-teaser high-interest savings rates in Canada.

GICs
WhatBank covers non-redeemable GICs. These are secure investments that guarantee 100% of your original investment, while earning interest at a fixed rate. The non-redeemable part means that your financial institution may not allow you to cash them in early. Even if they do allow it, there will be a financial penalty.

High-Interest Savings Accounts
More flexible than GICs, your money is not locked in with High-interest savings accounts. There are no penalties for withdraws. The interest rates are lower than GICs but the higher rates are usually found among Canada’s smaller banks and credit unions with Canada’s Big Six usually toward the bottom. Canada’s Big Six include: Royal Bank (RBC), Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), Bank of Nova Scotia (Scotiabank), Toronto Dominion Bank (TD), and the National Bank of Canada

Good Stuff to Know About WhatBank’s GIC and High-Interest Savings Tables

WhatBank is not paid for referrals and has no reason to be biased
Rates are automatically updated daily
Interactive
- Sortable by name, rate, and type of insurance
- GIC Table — Select up to five banks and compare their yield curves
- High-Interest Savings Table— Select up to five banks and compare their interest rate history
Use of data visualization techniques to help you compare the differences in interest rates
- GIC - Saturation of cell colour proportional to rate
- HIS - Bar graph proportional to interest rate
Mobile friendly