Cashable and redeemable GIC rates in Canada
Cashable and redeemable GIC rates, each paired with the same issuer's non-redeemable rate, so the rate given up for early access is priced.
What is a cashable GIC?
A cashable GIC is a guaranteed investment certificate that can be cashed before it matures, and it pays a lower rate than a non-redeemable GIC of the same term in exchange. Issuers use both words, cashable and redeemable, for this kind of product.
What to weigh is whether access to the money before maturity is worth the rate given up, which the tables below price for every issuer. Non-redeemable rates for every issuer are on 1-year GIC rates, and terms under a year on short-term GIC rates.
The non-redeemable side of every pair is explained on the non-redeemable GIC page.
Cashable vs redeemable GIC
Some issuers set a closed period at the start of the term before an early redemption is allowed and some do not, whichever word they use.
Of the 18 one-year quotes here, Northern Credit Union, Libro Credit Union and Alterna Savings label the product redeemable, Beem Credit Union and Tandia Financial Credit Union label it cashable, and the rest list it by term alone. The early-redemption terms on each issuer's own rates page, linked from every row of the one-year table, are the ones that apply.
Interest on a one-year term, paid at maturity.
Best 1-year cashable GIC rates in Canada
Meridian Credit Union posts the highest one-year cashable rate at 2.85%, and the lowest here is 1.50% from BMO. Each row pairs the issuer's cashable rate with its own non-redeemable rate for the same term, and the median issuer gives up 93 basis points for early access.
| Issuer | Cashable 1-year | Non-redeemable 1-year | Rate given up | Source |
|---|---|---|---|---|
| Meridian Credit Union1 year · FSRA · compounding not stated | 2.85% | 3.20% | 35 bp | meridiancu.ca |
| FirstOntario Credit Union1 year · FSRA · compounding not stated | 2.65% | 3.35% | 70 bp | firstontario.com |
| Northern Credit Union1 year redeemable · FSRA · compounding not stated | 2.40% | 3.20% | 80 bp | northerncu.com |
| Vancity1 year · CUDIC | 2.35% | 3.10% | 75 bp | vancity.com |
| Tru Cooperative Bank12 month · CDIC | 2.31% | 3.36% | 105 bp | trucooperativebank.ca |
| Beem Credit Union12 month cashable · CUDIC · compounding not stated | 2.30% | 3.30% | 100 bp | beemcreditunion.ca |
| Libro Credit Union1 year redeemable · FSRA | 2.25% | 3.15% | 90 bp | libro.ca |
| Oaken Financial1 year · CDIC | 2.25% | 3.80% | 155 bp | oaken.com |
| Coast Capital Savings1 year · CDIC | 2.15% | 3.10% | 95 bp | coastcapitalsavings.com |
| Kindred Credit Union1 year · FSRA · compounding not stated | 2.05% | 3.10% | 105 bp | rates.kindredcu.com |
| ATB Financial1 year · Government of Alberta · compounding not stated | 2.00% | 3.00% | 100 bp | atb.com |
| CIBC365–375 days · CDIC | 2.00% | 2.45% | 45 bp | cibc.com |
| Servus Credit Union1 year · CUDGC | 2.00% | 2.70% | 70 bp | servus.ca |
| RBC Royal Bank1 year · CDIC | 1.95% | 2.45% | 50 bp | rbcroyalbank.com |
| Scotiabank1 year · CDIC | 1.90% | 2.45% | 55 bp | scotiabank.com |
| Alterna Savings1 year redeemable · FSRA | 1.65% | 2.65% | 100 bp | alterna.ca |
| Tandia Financial Credit Union1 year cashable · FSRA | 1.65% | 2.65% | 100 bp | tandia.com |
| BMO364 days · CDIC | 1.50% | 3.00% | 150 bp | bmo.com |
Cashable GIC rates by term
DUCA Credit Union, FirstOntario Credit Union and ATB Financial post cashable rates at more than one term. Each term is shown as the issuer labels it, beside the issuer's non-redeemable rate for the same term where it posts one.
| Term | Cashable | Non-redeemable | Rate given up |
|---|---|---|---|
| DUCA Credit UnionFSRA · duca.com | |||
| Flex20 GIC (20-month) | 3.00% | – | – |
| Flex30 GIC (30-month) | 3.05% | – | – |
| Flex40 GIC (40-month) | 3.05% | – | – |
| Flex50 GIC (50-month) | 3.10% | – | – |
| Flex80 GIC (80-month) | 3.25% | – | – |
| FirstOntario Credit UnionFSRA · compounding not stated · firstontario.com | |||
| 90–179 days | 2.10% | 2.70% | 60 bp |
| 180–269 days | 2.10% | 2.70% | 60 bp |
| 270–364 days | 2.25% | 2.85% | 60 bp |
| 1 year | 2.65% | 3.35% | 70 bp |
| 13 month | 3.20% | – | – |
| 2 year | 3.10% | 3.60% | 50 bp |
| 3 year | 3.15% | 3.70% | 55 bp |
| 4 year | 3.15% | 3.70% | 55 bp |
| 5 year | 3.15% | 3.80% | 65 bp |
| ATB FinancialGovernment of Alberta · compounding not stated · atb.com | |||
| 30–59 days | 0.50% | 2.00% | 150 bp |
| 60–89 days | 0.50% | 2.00% | 150 bp |
| 90–119 days | 0.50% | 2.25% | 175 bp |
| 120–179 days | 0.50% | 2.25% | 175 bp |
| 180–269 days | 0.50% | 2.50% | 200 bp |
| 270–364 days | 0.50% | 2.50% | 200 bp |
| 1 year | 2.00% | 3.00% | 100 bp |
| 2 year | 2.00% | 3.00% | 100 bp |
| 3 year | 2.00% | 3.00% | 100 bp |
| 4 year | 2.00% | 3.00% | 100 bp |
| 5 year | 2.00% | 3.35% | 135 bp |
Cashable GICs in Canada: who posts one
19 of the 28 issuers tracked here posted a cashable or redeemable rate. TD Bank, EQ Bank, Tangerine, WealthONE Bank of Canada, Achieva Financial, Simplii Financial, National Bank of Canada, MCAN Wealth and Saven Financial did not post a cashable or redeemable rate on their rates page on Oct 1, 2026.
We read cashable rates from each issuer's own page every month, alongside the non-redeemable rates on the GIC rates hub. The monthly rate alert sends the new table each month and a reminder 30 days before a GIC matures.
Common questions about cashable GICs
Cashable vs non-cashable GIC: how much rate is given up?
At one year, between 35 and 155 basis points at the same issuer, with a median of 93. Across issuers, the best one-year cashable rate here, 2.85% at Meridian Credit Union, earns $262.50 less on $25,000 over a year than the best one-year non-redeemable rate, 3.90% at MCAN Wealth.
How does a cashable GIC work if the money is needed early?
Only a cashable or redeemable GIC can be cashed before maturity, and only after any closed period the issuer sets. A non-redeemable GIC stays locked until it matures. How much interest an early redemption pays is also set by each issuer, on its own rates page.
Are cashable GICs covered by deposit insurance?
Yes, on the same footing as any other eligible deposit at the institution. 7 of the issuers here are covered by CDIC: $100,000 per depositor, per member institution, per insured category. 8 of the issuers here are covered by FSRA: eligible deposits in registered accounts are covered without limit; non-registered deposits are covered to $250,000. 2 of the issuers here are covered by CUDIC: all deposits guaranteed without limit. 1 of the issuers here is covered by the Government of Alberta: deposits with ATB Financial carry a provincial guarantee with no dollar limit. 1 of the issuers here is covered by CUDGC: all deposits at an Alberta credit union are guaranteed without limit. Coverage limits change on a scale of years rather than months, so confirm the current figure with the regulator before relying on one.
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