Business · Markets · 8 hrs ago
WealthONE raises its top five-year GIC rate to 4.55%
A GIC is a deposit that pays interest for a set period, and GIC rates in Canada have risen.
WealthONE now offers the highest five-year rate, at 4.55%, and also leads rates for terms of two to four years.
Haventree Bank has the top one-year rate, at 4.00%.
Canada’s inflation rate reached 3.1% in September, though two measures of underlying inflation declined.
At 3.1% inflation, a savings account paying 3.00% does not keep up with rising prices before taxes.
A five-year GIC at 4.55% is 1.45 percentage points above current inflation before taxes.
Markets are betting on a Bank of Canada rate hike at its Oct.
28 meeting, and savers must weigh certainty against waiting for rates that could rise further.
WealthONE now offers Canada’s highest five-year GIC rate at 4.55 per cent.
The rate is up from 4.00 per cent six months ago.
WealthONE also leads the market for two-, three- and four-year GIC rates.
Canadian GIC rates have risen across the board, while standard savings account rates have remained stable.
- Who
- WealthONE, a Canadian financial institution.
- What
- It raised its top five-year GIC rate to 4.55 per cent, the highest in Canada.
- When
- Reported on Oct. 21, 2026; the rate was up from six months earlier.
- Where
- Canada.
- Why
- Not stated.
This story does not have two clearly opposing sides.
WealthONE’s best two- and three-year GIC rates were both 3.80 per cent.
WealthONE’s market-leading five-year GIC rate was 4.00 per cent.
WealthONE offered Canada’s highest five-year GIC rate at 4.55 per cent.
- Five-year GIC rate
- 4.55 per cent
- Previous five-year rate
- 4.00 per cent six months earlier
- Two-year GIC rate
- 4.30 per cent
- Three-year GIC rate
- 4.40 per cent
- Four-year GIC rate
- 4.45 per cent