Alterna Savings GIC rates compared
Alterna Savings's best posted rate is 3.30% on a 5-year term. The best rate available in Canada for that term is 4.30%, from WealthONE Bank of Canada. Both are covered, Alterna Savings by FSRA.
Get Alterna GICsHow do Alterna Savings's GIC rates compare to the best in Canada?
On a 5-year term Alterna Savings posts 3.30% against 4.30% from WealthONE Bank of Canada, the best we track. Every term it publishes is compared the same way below.
| Term | Alterna Savings | Best in Canada | Gap | Leader |
|---|---|---|---|---|
| 1-year | 2.65% | 3.70% | −1.05 pts | WealthONE Bank of Canada |
| 2-year | 2.85% | 3.95% | −1.10 pts | WealthONE Bank of Canada |
| 3-year | 3.10% | 4.05% | −0.95 pts | WealthONE Bank of Canada |
| 4-year | 3.25% | 4.10% | −0.85 pts | WealthONE Bank of Canada |
| 5-year | 3.30% | 4.30% | −1.00 pts | WealthONE Bank of Canada |
Is Alterna Savings's GIC covered by FSRA?
Yes, though not by CDIC. Alterna Savings is a credit union regulated in Ontario, so its deposits are protected to $250,000 by the Financial Services Regulatory Authority of Ontario rather than to CDIC's $100,000.
Ontario. Eligible deposits in registered accounts are covered without limit; non-registered deposits are covered to $250,000.
Where do these Alterna Savings rates come from?
Directly from Alterna Savings's own posted rate page at alterna.ca, read by hand on 2026-09-06. The page dates the rates themselves 2026-04-17.
All 12 terms Alterna Savings posts were captured in that read. No aggregator, no feed, no affiliate link.
Alterna Savings's posted rates on alterna.caHow we collect and check ratesWho should buy a GIC from Alterna Savings?
People who already bank at Alterna Savings, mostly. It does not lead any term we track, so what is left is the convenience of not moving money, priced below.
Common questions about Alterna Savings GICs
What is Alterna Savings's minimum GIC deposit?
$500. Published minimums across the 23 institutions that state one run $100 to $1,000.
Does Alterna Savings have the best GIC rate in Canada?
Not on a 5-year term. Alterna Savings posts 3.30% there, against 4.30% from WealthONE Bank of Canada: a gap of 1.00 points on the same term, for the same non-redeemable product. The table above runs the same comparison across all 5 terms.
Which GIC terms does Alterna Savings offer?
12 terms are posted on alterna.ca, from 30–59 days to 5 years. The comparison table above covers the 5 annual terms where enough issuers publish a rate for a market comparison to mean anything.
Does Alterna Savings pay GIC interest monthly?
Alterna Savings does not post a separate interest-paid-monthly rate on alterna.ca, so we do not publish one. Where an issuer posts one it is always lower than the compounding rate, which makes it worth asking before you choose monthly income.
Are these Alterna Savings rates promotional?
No. These are Alterna Savings's standard posted rates, which its own page dates 2026-04-17; we read them on 2026-09-06. Limited-time promotions are noted separately rather than used to move an institution up the ranking, because a promotional rate that expires before your term does is not a rate you can rely on.
How we collect and check ratesWhat would Alterna Savings's 4-year rate pay on your deposit?
On $50,000 it pays $6,824 in interest over the full term. Change the amount to see what that becomes on yours, then compare it against the leader.
Get next month's rates by email
One email a month with the best verified rate for every term, read off 28 issuers' own pages the same way every rate on this site is.
Independent and unaffiliated. Rates are read from Alterna Savings's own posted page at alterna.ca and may change without notice. Educational information only, not financial advice. Published by Croton Holdings LLC. Corrections to daniel@crotoncontent.com.