What is the best 1-year GIC rate in Canada?
What is the best 1-year GIC rate in Canada?
Summary of the Best GICs rates in Canada
Best Non-registered 1-year GIC: EQ Bank, 4.55% interest rate.
Best 1-year GIC: LBC Digital, 4.60% interest rate.
Best 1-year GIC: Tangerine, 4.40% interest rate.
Best Non-registered 1-year GIC: Motive Financial, 4.49% interest rate.
- Best Non-registered 1-year GIC: EQ Bank, 4.55% interest rate.
- Best 1-year GIC: LBC Digital, 4.60% interest rate.
- Best 1-year GIC: Tangerine, 4.40% interest rate.
- Best Non-registered 1-year GIC: Motive Financial, 4.49% interest rate.
What is the highest paying GIC rate in Canada?
Peoples Trust currently has the best 1-year GIC term with a rate of 4.60% that is slightly above EQ Bank and Simplii Financial at 4.50%. Motive Financial, Tangerine Bank, Saven and Equity Credit Union are slightly lower with 4.40% 1-year GIC rates.
Are GICs worth it?
They’re considered one of the safest investment options for Canadians because returns are guaranteed, so there is minimal risk involved. A GIC works similarly to a high-interest savings account, except that your money is locked in to grow for a predetermined period of time.
Are GICs halal?
Islamic Law specifically prohibits Muslims from profiting off of loans by collecting interest (usury). What this means is that traditional assets like bonds and GICs have no place in a halal portfolio.
