Five year GIC rates have had a lot of action these past few months. With the Bank of Canada’s interest rate announcement next week (September 7th at 10am), I thought it would be timely to look at the five year GIC rates for all the financial institutions that WhatBank tracks for the period from January 1^st to August 31^st 2022.

The median five year GIC rate on January 1^st was 2.15% and 4.72% on August 31^st.

View WhatBank’s interactive table of Canada’s best GIC rates and sign up to receive email notifications when rates you care about change.

Be sure to check out WhatBank’s new credit card finder. It graphically shows the value that you get from your credit card, takes taxes and fees into account when you choose to use the card for flights, and even shows you what happens if you don’t pay off your card in full each month.