What is a GIC in Canada?

A Guaranteed Investment Certificate (GIC) is a Canadian savings product that offers a guaranteed rate of return over a fixed term (typically 1–5 years). Your principal is protected, and most GICs are covered by CDIC insurance up to $100,000 per category.

Are GIC returns taxable?

Yes — GIC interest earned in a non-registered account is fully taxable as income at your marginal rate. However, GICs held inside a TFSA or RRSP grow tax-free or tax-deferred respectively.

Banking – GIC Rates & Savings (Canada)

By Wealthvieu · Updated March 15, 2026

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