Scotiabank GIC rates compared
Scotiabank's best posted rate is 2.45% on a 1-year term. The best rate available in Canada for that term is 3.70%, from WealthONE Bank of Canada. Both are covered by deposit insurance.
Get Scotiabank GICsHow do Scotiabank's GIC rates compare to the best in Canada?
On a 5-year term Scotiabank posts 2.75% against 4.30% from WealthONE Bank of Canada, the best we track. Every term it publishes is compared the same way below.
| Term | Scotiabank | Best in Canada | Gap | Leader |
|---|---|---|---|---|
| 1-year | 2.45% | 3.70% | −1.25 pts | WealthONE Bank of Canada |
| 2-year | 2.50% | 3.95% | −1.45 pts | WealthONE Bank of Canada |
| 3-year | 2.60% | 4.05% | −1.45 pts | WealthONE Bank of Canada |
| 4-year | 2.70% | 4.10% | −1.40 pts | WealthONE Bank of Canada |
| 5-year | 2.75% | 4.30% | −1.55 pts | WealthONE Bank of Canada |
Is Scotiabank's GIC covered by CDIC?
Yes. Scotiabank is one of the five largest Canadian chartered banks and a CDIC member, so an eligible GIC held here is protected to $100,000 per depositor, per insured category.
Federal. $100,000 per depositor, per member institution, per insured category.
Where do these Scotiabank rates come from?
Directly from Scotiabank's own posted rate page at scotiabank.com, read by hand on 2026-09-04. Scotiabank does not date its posted rates, so the read date is the only currency guarantee available.
All 12 terms Scotiabank posts were captured in that read, including the 5 that carry a separate interest-paid-monthly rate. No aggregator, no feed, no affiliate link.
Scotiabank's posted rates on scotiabank.comHow we collect and check ratesWho should buy a GIC from Scotiabank?
People who already bank at Scotiabank, 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 Scotiabank GICs
What is Scotiabank's minimum GIC deposit?
Scotiabank does not publish a minimum on its own rates page. Of the 15 institutions we track, 10 publish one, and those run $100 to $1,000 — so the figure to confirm before you deposit is the one Scotiabank quotes you.
Does Scotiabank have the best GIC rate in Canada?
Not on a 5-year term. Scotiabank posts 2.75% there, against 4.30% from WealthONE Bank of Canada: a gap of 1.55 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 Scotiabank offer?
12 terms are posted on scotiabank.com, from 30–59 days to 10 years. The comparison table above covers the 5 annual terms where enough issuers publish a rate for a market comparison to mean anything.
Does Scotiabank pay GIC interest monthly?
Scotiabank posts a separate, lower rate for interest paid monthly on 5 of its terms: 2.650% at 5 years, against 2.750% compounded annually. Every figure on this page is the compounding rate, so a monthly-income GIC here pays less than the table shows.
Are these Scotiabank rates promotional?
No. These are Scotiabank's standard posted rates, read from scotiabank.com on 2026-09-04. Scotiabank does not date its posted rates, so that read date is the only currency guarantee available here. Limited-time promotions are noted separately rather than used to move an institution up the ranking.
How we collect and check ratesWhat would Scotiabank's 1-year rate pay on your deposit?
On $50,000 it pays $1,225 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 15 issuers' own pages the same way every rate on this site is.
Independent and unaffiliated. Rates are read from Scotiabank's own posted page at scotiabank.com and may change without notice. Educational information only, not financial advice. Published by Croton Holdings LLC. Corrections to daniel@crotoncontent.com.