Short-term GIC rates in Canada
Terms under one year, from 30 days to 9 months, across every issuer that posts them.
What are the best short-term GIC rates in Canada?
EQ Bank pays the most under a year, 3.10% over 9-month. Below are 33 quotes from 8 issuers, on terms from 30 days to 9 months.
| # | Institution | Term | Rate |
|---|---|---|---|
| 01 | EQ BankCDIC | 9 month | 3.10% |
| 02 | TangerineCDIC | 270 day | 3.10% |
| 03 | EQ BankCDIC | 6 month | 2.75% |
| 04 | TangerineCDIC | 180 day | 2.75% |
| 05 | CIBCCDIC · $1,000 min | 270 days | 2.60% |
| 06 | TangerineCDIC | 90 day | 2.50% |
| 07 | CIBCCDIC · $1,000 min | 180 days | 2.50% |
| 08 | RBC Royal BankCDIC | 90–179 days | 2.40% |
| 09 | EQ BankCDIC | 3 month | 2.40% |
| 10 | RBC Royal BankCDIC | 180–269 days | 2.40% |
| 11 | Beem Credit UnionCUDIC · $500 min | 180–269 days | 2.40% |
| 12 | RBC Royal BankCDIC | 270–364 days | 2.40% |
| 13 | ScotiabankCDIC | 270–364 days | 2.40% |
| 14 | Beem Credit UnionCUDIC · $500 min | 270–364 days | 2.40% |
| 15 | RBC Royal BankCDIC | 60–89 days | 2.35% |
| 16 | ScotiabankCDIC | 180–269 days | 2.30% |
| 17 | ScotiabankCDIC | 90–119 days | 2.20% |
| 18 | RBC Royal BankCDIC | 30–59 days | 2.15% |
| 19 | Beem Credit UnionCUDIC · $500 min | 60–89 days | 2.10% |
| 20 | CIBCCDIC · $1,000 min | 90 days | 2.10% |
| 21 | Beem Credit UnionCUDIC · $500 min | 90–179 days | 2.10% |
| 22 | TD BankCDIC | 120 days | 2.05% |
| 23 | TD BankCDIC | 180 days | 2.05% |
| 24 | TD BankCDIC | 270 days | 2.05% |
| 25 | ScotiabankCDIC | 30–59 days | 2.00% |
| 26 | CIBCCDIC · $1,000 min | 30 days | 2.00% |
| 27 | Beem Credit UnionCUDIC · $500 min | 30–59 days | 2.00% |
| 28 | National Bank of CanadaCDIC · $500 min | 9 months | 1.85% |
| 29 | TD BankCDIC | 30 days | 1.80% |
| 30 | TD BankCDIC | 60 days | 1.80% |
| 31 | TD BankCDIC | 90 days | 1.80% |
| 32 | National Bank of CanadaCDIC · $500 min | 6 months | 1.50% |
| 33 | National Bank of CanadaCDIC · $500 min | 3 months | 0.30% |
Put these rates through the calculator
Change the amount to see the maturity value and the effective annual rate once compounding applies.
Common questions about short-term GICs
Are these short-term GICs covered by deposit insurance?
Yes, every issuer on this page belongs to a deposit-protection scheme. 7 are covered by CDIC: $100,000 per depositor, per member institution, per insured category. 1 is covered by CUDIC: all deposits guaranteed without limit. Coverage limits move on a scale of years rather than months, so confirm the current figure with the regulator before you rely on one.
What is the minimum deposit for a short-term GIC?
$500 at Beem Credit Union and National Bank of Canada is the lowest on this page, and $1,000 the highest. 5 of the 8 issuers here post no minimum at all on their own rates pages.
How much does $50,000 pay over 9 months at 3.10%?
$51,158 at maturity, of which $1,158 is interest. That is EQ Bank's posted rate, compounded annually and paid at the end of the term.
Can I cash a short-term GIC early?
No. Every rate on this page is a non-redeemable GIC, locked until it matures. Cashable and redeemable GICs are different products, posted at their own rates, and are not what this table shows.
Is GIC interest taxed before the GIC matures?
Outside a registered account, yes. Interest accrues to you each year and is taxable in that year even though a short-term GIC pays all of it at the end. Inside a TFSA it is not taxed at all, which is usually worth more than the gap between the top rates here.
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