Best GIC in Canada




EQ Bank Non-registered 1 Year GIC

EQ Bank, a trademark of Equitable Bank is an online bank based in Toronto that offers chequing and savings accounts, GICs and registered plans. Each EQ Bank GIC starts with a minimum deposit of $100, making it convenient for a new investor to explore these GICs at a competitive fixed rate.

Best 1 Year GIC Rates

Term Length:1 Year
Interest Rate:4.35%
Minimum Deposit:$100
Bonus Offer:Get $150 back

$100 $75

999-999-9999

  • Non-registered and non-redeemable.
  • Must have an EQ savings account in order to get an EQ GIC.
  • When the term ends and your GIC reaches the maturity date, the funds will be placed in your Savings Plus Account (the one from which your initial investment was funded). You will receive an email or SMS alert notifying you of the GIC maturity.
  • Term options range from 3-months to 10-years. You’re the one in charge of your savings, that includes choosing whether short or long term GICs are right for you.
  • RSP and TFSA GICs are also available. Before you buy, you’ll need to open an RSP Savings Account or TFSA Savings Account.
  • GIC options let you lock in any of our amazing rates, so no matter what happens, that rate is yours.
  • Low minimum deposit. So you can start investing in GICs with as little as $100.
  • You choose how your interest is paid out, either at maturity or annually.
  • A GIC in seconds. As long as you have available funds in your Savings Plus Account, you can literally buy a GIC in seconds.
  • You can buy up to 20 GICs. Each GIC purchase must be for at least $100, and can be up to a maximum of $100,000. Customers can hold up to $500,000 in GICs, excluding interest earned.
  • *EQ Bank GICs are non-redeemable.
  • For GIC terms of less than one year, simple interest is calculated on a per diem basis and paid at maturity. For GIC terms equal to one year, simple interest is calculated on a per annum basis and paid at maturity. For GIC terms of over one year, not including 15 and 27 month terms, interest is calculated on a per annum basis and paid either annually (simple interest) or at maturity (compounded annually).
  • For GIC terms of 15 and 27 months, interest is calculated on a per annum basis, compounded annually and paid solely at maturity. In all cases, interest is accrued for the entire GIC term.
  • Maximum 20 GICs per customer. Per GIC investment limit of $100,000. Aggregate GIC investment limit of $500,000.
  • Rates are calculated on a per annum basis and are subject to change at any time.
  • Equitable Bank is a member of CDIC. EQ Bank is a trade name of Equitable Bank.

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