Best GIC rates in British Columbia

National issuers available in British Columbia, plus the provincially regulated credit unions and the deposit guarantee that covers them.

Best 5-year rate in British Columbia4.30%WealthONE Bank of CanadaCDIC to $100,000 · $1,000 min

The trade-off on $200,000

WealthONE Bank of Canada at 4.30%$46,860

Beem Credit Union at 3.65%$39,264

What the wider guarantee costs$7,596

$200,000 is above CDIC's $100,000 limit, so at WealthONE Bank of Canada it would have to be split across 2 institutions to stay protected. At Beem Credit Union it is covered outright, and $7,596 over 5 years is what that costs.

British Columbia credit unions

Regulated in British Columbia. Deposits are guaranteed by CUDIC, not CDIC.

Beem Credit UnionCUDIC · $500 min3.65%

VancityCUDIC · $500 min3.60%

5-year posted rates · verified Sep 6, 2026

National banks and trust companies

Available in British Columbia and everywhere else. CDIC-insured to $100,000.

WealthONE Bank of CanadaCDIC · $1,000 min4.30%

Oaken FinancialCDIC · $1,000 min4.25%

MCAN WealthCDIC · $100 min4.05%

EQ BankCDIC4.00%

TangerineCDIC4.00%

Coast Capital SavingsCDIC · $500 min3.80%

Tru Cooperative BankCDIC · $500 min3.71%

Simplii FinancialCDIC · $100 min3.65%

National Bank of CanadaCDIC · $500 min3.35%

TD BankCDIC3.10%

BMOCDIC · $1,000 min3.10%

RBC Royal BankCDIC2.75%

ScotiabankCDIC2.75%

CIBCCDIC · $1,000 min2.75%

5-year posted rates · verified Sep 6, 2026

How your deposit is protected in British Columbia

This is what genuinely differs by province, and on a large deposit it is worth more than a few basis points. Credit unions are provincially regulated, so their guarantee is not CDIC's.

CUDIC — British Columbia credit unionsNo limit

Every deposit at a BC credit union is guaranteed in full, with no limit on the amount and none on the length of the term. Registered plans — RRSP, TFSA, RRIF — are covered on the same footing rather than in a separate category. The one carve-out is the variable portion of an index- or market-linked term deposit, where only the principal and any guaranteed minimum return are covered.

CDIC — banks and trust companies$100,000

Covered to $100,000 per insured category, per member institution. Registered plans are their own categories, so an RRSP and a TFSA at the same bank each carry their own limit — but a large non-registered deposit has to be split across institutions to stay fully protected.

Coast Capital Savings and Tru Cooperative Bank sit in the national table above rather than with the British Columbia credit unions, because CDIC covers them and CUDIC does not. Coast Capital Savings is a federal credit union and a CDIC member, covered to $100,000 per depositor per insured category, and it operates the Prospera and Sunshine Coast Financial brands, which share that single limit. Tru Cooperative Bank, formerly First West, became a federal credit union on 1 April 2026 and moved from CUDIC to CDIC; its Envision Financial, Valley First, Island Savings and Enderby and District Financial divisions share the same limit, and deposits placed before that day keep coverage on the former CUDIC terms until 28 September 2026. Vancity and Beem Credit Union carry the CUDIC guarantee.

Coverage rules are set by each regulator and change from time to time. They are not part of our monthly rate check, so confirm the current limits with CUDIC and CDIC before relying on them.

When the credit union is the better answer

Your deposit is above $100,000This is the strongest case. CUDIC covers a deposit of any size at a single credit union, where the same money at a bank has to be spread across 2 institutions to stay fully protected — 2 applications, 2 maturity dates, 2 sets of paperwork.

The GIC sits in a registered accountCUDIC covers registered deposits — RRSP, TFSA, RRIF — with no dollar limit at all. For a large RRSP or RRIF holding that is protection no CDIC member can match, whatever rate it posts.

And the case againstWealthONE Bank of Canada pays 4.30% against Beem Credit Union's 3.65%. If your deposit is comfortably under $100,000, both are covered in full and the wider guarantee buys you nothing — take the higher rate.

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Other provincesOntarioFSRA · $250,0004.10%ManitobaDGCM · no limit4.10%AlbertaGovernment of Alberta · no limit3.35%

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