Terms and conditions apply; rates are per annum and subject to change without notice. Eligible for CDIC deposit insurance. Non-Registered rates are tiered and based on your balance. 3.00% applies to deposits of $25,000 or more. See WealthONE website for current rates and applicable balance tiers. Highest rate in Canada for non-promotional HISA accounts, as confirmed by WOWA.ca as of June 25, 2026.
Best 2-Year GIC Rates in Canada
| Provider | Rate | Insurance Coverage |
|---|---|---|
Haventree Bank | 4.00% | $100,000 / accountInsured by CDIC |
WealthONE | 3.95% | $100,000 / accountInsured by CDIC |
MCAN Financial | 3.90% | $100,000 / accountInsured by CDIC |
Oaken Create a free account to see moreCreate a free account | 3.90% 2-Year | $100,000 / issuerInsured by CDIC |
Saven Financial Create a free account to see moreCreate a free account | 3.85% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
Pathwise Credit Union | 3.80% | $250,000 per depositorInsured by FSRA (DIRF) |
Hubert Create a free account to see moreCreate a free account | 3.80% 2-Year | UnlimitedInsured by DGCM |
Equitable Create a free account to see moreCreate a free account | 3.77% 2-Year | $100,000 / accountInsured by CDIC |
Achieva Financial | 3.75% | UnlimitedInsured by DGCM |
MAXA Financial Create a free account to see moreCreate a free account | 3.70% 2-Year | UnlimitedInsured by DGCM |
General Bank of Canada Create a free account to see moreCreate a free account | 3.70% 2-Year | $100,000 / accountInsured by CDIC |
Outlook Financial Create a free account to see moreCreate a free account | 3.70% 2-Year | UnlimitedInsured by DGCM |
3.65% | $100,000 / accountInsured by CDIC | |
Steinbach Credit Union Create a free account to see moreCreate a free account | 3.65% 2-Year | UnlimitedInsured by DGCM |
3.65% 2-Year | $100,000 / accountInsured by CDIC | |
HomeEquity Bank Create a free account to see moreCreate a free account | 3.61% 2-Year | $100,000 / accountInsured by CDIC |
LBC Digital Create a free account to see moreCreate a free account | 3.55% 2-Year | $100,000 / accountInsured by CDIC |
Bridgewater Bank Create a free account to see moreCreate a free account | 3.50% 2-Year | $100,000 / accountInsured by CDIC |
Meridian Create a free account to see moreCreate a free account | 3.50% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
DUCA Financial Create a free account to see moreCreate a free account | 3.45% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
ICICI Create a free account to see moreCreate a free account | 3.40% 2-Year | $100,000 / accountInsured by CDIC |
Laurentian Create a free account to see moreCreate a free account | 3.35% 2-Year | $100,000 / accountInsured by CDIC |
Northern Credit Union Create a free account to see moreCreate a free account | 3.35% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
Manulife Create a free account to see moreCreate a free account | 3.30% 2-Year | $100,000 / accountInsured by CDIC |
Kindred Credit Union Create a free account to see moreCreate a free account | 3.30% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
National Bank Create a free account to see moreCreate a free account | 3.25% 2-Year | $100,000 / accountInsured by CDIC |
FirstOntario Credit Union Create a free account to see moreCreate a free account | 3.20% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
Your Neighbourhood Credit Union Create a free account to see moreCreate a free account | 3.15% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
Libro Credit Union Create a free account to see moreCreate a free account | 3.15% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
Sun Life Create a free account to see moreCreate a free account | 3.10% 2-Year | $100,000 / accountInsured by CDIC |
Northern Birch Credit Union Create a free account to see moreCreate a free account | 3.05% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
Desjardins Create a free account to see moreCreate a free account | 3.00% 2-Year | $100,000 per categoryInsured by AMF |
Peoples Bank Create a free account to see moreCreate a free account | 3.00% 2-Year | $100,000 / accountInsured by CDIC |
Kawartha Credit Union Create a free account to see moreCreate a free account | 3.00% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
Simplii Financial Create a free account to see moreCreate a free account | *2.96%* 2-Year | $100,000 / accountInsured by CDIC |
WFCU | 2.95% | $250,000 per depositorInsured by FSRA (DIRF) |
Alterna Bank Create a free account to see moreCreate a free account | 2.85% 2-Year | $100,000 per categoryInsured by CDIC |
2.80% 2-Year | $100,000 / accountInsured by CDIC | |
2.75% 2-Year | $100,000 / accountInsured by CDIC | |
2.55% 2-Year | $100,000 / accountInsured by CDIC | |
2.55% 2-Year | $100,000 / accountInsured by CDIC | |
Caisse Populaire Alliance Create a free account to see moreCreate a free account | 2.55% 2-Year | $250,000 per depositorInsured by FSRA (DIRF) |
2.50% 2-Year | $100,000 / accountInsured by CDIC | |
Canadian Tire Create a free account to see moreCreate a free account | 2.40% 2-Year | $100,000 / accountInsured by CDIC |
Note: GIC rates shown are for non-redeemable GICs with annual compounding.
*Compounded monthly
Terms and conditions apply. Rates are per annum and subject to change without notice. Eligible for CDIC deposit insurance. See WealthONE's website for current rates and applicable balance tiers. Highest rate in Canada for RRSP HISA accounts, as confirmed by WOWA as of July 24 2026
What Are 2-Year GICs?
The content below, excluding GIC rates, was last updated on: September 12th, 2024
Guaranteed Investment Certificates (GICs) are one of the most popular forms of investment in Canada, especially for risk-averse investors. As their name suggests, GICs offer guaranteed returns on investments. When you invest in a GIC, your investment is locked for the length of the term you have selected, and you earn interest on it for that duration. When you invest in a 2-year GIC, your investment is locked for 2 years.
2-year GICs and all GICs with a term length longer than 1 year fall under the category of long-term GICs. Usually, the interest rates increase with the term, meaning a 5-year GIC will often offer a higher interest rate than a 2-year GIC. However, sometimes, the shorter-term rates are higher than the longer-term rates, and this situation is called an inverted yield curve. An inverted yield curve signals that the rates will fall in the future and often also hints at an economic slowdown.
2-Year GIC Rates vs Bond Yields
2-Year GIC Rate 4.80%* as of August 2024 | 2-Year Bond Rate 3.33%** as of August 2024 |
*Highest rate offered by providers listed on WOWA.ca
**From ca.investing.com (End of the day on August 19, 2024)
Both GICs and bonds offer guaranteed returns on investments. Bonds have consistently outperformed GICs in the long term, with a much better average annual return over the last 40 years. However, GICs can outperform bonds in some short-term scenarios, such as when interest rates suddenly increase. A recent example is 2022 - 2023, when the Bank of Canada hiked its policy rates significantly, causing the bond prices to drop sharply. During this time, GIC rates increased and provided higher returns than bonds.
Types of 2-Year GICs
Registered and Non-Registered
2-year GICs in Canada can be held in non-registered accounts as well as registered accounts, such as Tax-Free Savings Accounts (TFSA), Registered Retirement Savings Plans (RRSP), Registered Education Savings Plans (RESP) and more. Investing in GICs through registered accounts can have potential tax benefits. Therefore, if you have a TFSA contribution room or RRSP contribution room available, you may consider investing in 2-year GIC options through these accounts. If you are saving up for the purchase of your first home, you may also consider investing in GICs through a First Home Savings Account (FHSA) to grow your savings tax-free.
Redeemable, Non-Redeemable and Cashable GICs
Another basis for the classification of 2-year GICs is their redemption. 2-year Non-redeemable GICs cannot be redeemed for two years. Redeemable GICs can be redeemed early at a predetermined early redemption rate, which is much lower than the original GIC rate. Cashable GICs also have a lower rate than non-redeemable GICs. They can be cashed at that rate anytime after the initial waiting period, which is usually 30 days. Cashing the GICs during the waiting period yields zero interest. Most cashable GICs have a 1-year term, but you can renew the GIC at the end of the first year to invest in it for 2 years.
2-Year GIC Insurance
Most GIC investments are eligible for either CDIC (Canadian Deposit Insurance Corporation) insurance or insurance from provincial regulators. This means that the investments within the insurer's prescribed limits will remain safe even if the financial institution you have invested with fails for some reason.
Best 2-Year GICs in Canada
RBC 2-Year GIC Rates
- Minimum Investment: $1,000
- Eligible for: RRSP, TFSA, RESP, RRIF, LIF, and RDSP (min. $500)
Current RBC Non-Redeemable GIC Rates as of September 03 2026
TD 2-Year GIC Rates
- Minimum Investment: $1,000
- Eligible for: RRSP, TFSA, RESP, and RRIF
Current TD Non-Redeemable GIC Rates as of September 03 2026
Scotiabank 2-Year GIC Rates
- Minimum Investment: $500
- Eligible for: RRSP, RESP, TFSA, RDSP, RIF, LIF, LRIF, and RLIF
Current Scotiabank Non-Redeemable GIC Rates as of September 03 2026
BMO 2-Year GIC Rates
- Minimum Investment: $1,000
- Eligible for: RRSP, TFSA, RESP, RIF, and RDSP
Current BMO Non-Redeemable GIC Rates as of September 03 2026
CIBC 2-Year GIC Rates
- Minimum Investment: $1,000
- Eligible for: RRSP, TFSA, RRIF, and LIF
Current CIBC Non-Redeemable GIC Rates as of September 03 2026
National Bank 2-Year GIC Rates
- Minimum Investment: $500
- Eligible for: RRSP and TFSA
Current National Bank Non-Redeemable GIC Rates as of September 03 2026
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA® does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.