Guaranteed Investment Certificates (GICs)
When you invest in a GIC, your principal is protected, so you can save with confidence.
13-month FlexSavings Cashable GIC
3.00%
14-month non‑redeemable GIC
3.30%
26-month non‑redeemable GIC
3.75%
Find the right GIC for your goals
Compare rates, terms, and features to choose the best guaranteed investment certificate for you.
Great rates
Grow your money faster than with a regular savings account.
Safe and secure
Your principal is fully protected, keeping your savings 100% secure.
Flexible terms
Choose the best fit with flexible short- and long-term options.
Account options
Invest in GICs through non-registered and registered accounts.
Current GIC rates
GIC Specials
- Limited-time offers
- Redeemable and non-redeemable
- Available in non-registered and registered accounts
| Term | Rate* |
|---|---|
| 13-month FlexSavings Cashable GIC | 3.00% |
| 14-month non-redeemable | 3.30% |
| 26-month non-redeemable | 3.75% |
Short-term GICs
- Redeemable and non-redeemable terms from 90 to 364 days
- Available in non-registered accounts, TFSAs, FHSAs, RRSPs, and RRIFs
| Term | Rate* |
|---|---|
| 90–179 days redeemable | 2.10% |
| 180–269 days redeemable | 2.10% |
| 270–364 days redeemable | 2.25% |
| 90–179 days non-redeemable | 2.60% |
| 180–269 days non-redeemable | 2.60% |
| 270–364 days non-redeemable | 2.75% |
Long-term GICs
- Redeemable and non-redeemable terms from one to five years
- Available in non-registered accounts, TFSAs, FHSAs, RRSPs, RRIFs, and RESPs
- Our laddering strategy maximizes returns and reduces sensitivity to changing interest rates
| Term | Rate* |
|---|---|
| 1-year redeemable | 2.30% |
| 2-year redeemable | 2.75% |
| 3-year redeemable | 2.80% |
| 4-year redeemable | 2.80% |
| 5-year redeemable | 2.85% |
| 1-year non-redeemable | 3.00% |
| 2-year non-redeemable | 3.25% |
| 3-year non-redeemable | 3.35% |
| 4-year non-redeemable | 3.35% |
| 5-year non-redeemable | 3.50% |
Accelerator GIC
- The interest rate increases each year over the five-year term
- Option to convert to a regular GIC on the 3rd and 4th anniversary dates of the term
- Take advantage of rising rates by re-investing your deposit at a higher rate
- Redeem up to 20% of the principal with no penalty, once a year
- Available in non-registered accounts, TFSAs, FHSAs, RRSPs, and RRIFs
| Year | Rate* |
|---|---|
| Year 1 | 3.00% |
| Year 2 | 3.10% |
| Year 3 | 3.15% |
| Year 4 | 3.50% |
| Year 5 | 5.00% |
| Effective yield | 3.55% |
Escalator GIC
- The interest rate increases every 8 months over the two-year term
- Interest compounds every 8 months, so you earn interest on your interest
- Redeemed in part or in full on each anniversary date or up to 30 days after the anniversary
- Available in non-registered accounts, TFSAs, FHSAs, RRSPs, and RRIFs
| Month | Rate* |
|---|---|
| Months 1–8 | 3.00% |
| Months 9–16 | 3.20% |
| Months 17–24 | 4.00% |
| Average yield | 3.40% |
Market-linked GICs
- Principal is 100% guaranteed at maturity
- Offer potential for higher returns by tracking the performance of recognized companies in Canadian or global stock markets
- No need to monitor the market
- No management fees to calculate or deduct from returns
- Covered by the Financial Services Regulatory Authority of Ontario (FSRA)
- Available in non-registered accounts, TFSAs, and RRSPs
| Type | Rate** | Details |
|---|---|---|
| 3-year Canadian market-linked | up to 7.43% | Fact sheet |
| 5-year Canadian market-linked | up to 9.02% | Fact sheet |
| 3-year Global market-linked | up to 8.29% | Fact sheet |
| 5-year Global market-linked | up to 9.16% | Fact sheet |
For information on the performance of FirstOntario’s Market-linked GICs, take a look at our Canadian MLGIC Quarterly Current Value Report and our Global MLGIC Quarterly Current Value Report.
U.S. dollar GICs
- Non-redeemable terms from 30 days to five years
- Available in non-registered accounts
| Term | Rate* |
|---|---|
| 30–59 days | 2.80% |
| 60–89 days | 2.85% |
| 90–179 days | 2.90% |
| 180–269 days | 3.00% |
| 270–364 days | 3.10% |
| 1-year | 3.80% |
| 2-year | 3.75% |
| 3-year | 3.75% |
| 4-year | 3.80% |
| 5-year | 3.80% |
Top 5 questions about GICs
What is a Guaranteed Investment Certificate (GIC)?
A Guaranteed Investment Certificate is a secure investment that protects your principal and guarantees a fixed return over a set term. It offers predictable growth, making it a steady savings option for both short-term and long-term goals.
Why should I consider investing in a GIC?
A GIC keeps your savings safe while offering consistent returns. Your principal is fully protected, giving you peace of mind. This is especially useful for creative professionals who want financial stability alongside their creative pursuits.
What types of GIC terms and options are available?
You can choose from short-term and long-term GICs, as well as specialty options like Accelerator, Escalator, market-linked, and U.S. dollar GICs. These choices let you match your investments to your needs and style of planning.
Can I hold a GIC in a registered account?
Yes. You can hold GICs in non-registered accounts or registered plans, including TFSA, RRSP, RRIF, and RESP accounts. This gives you flexibility in how and where you grow your savings.
What special GIC rates does FirstOntario offer?
FirstOntario frequently introduces new special rates on select GIC terms. To stay up to date on these opportunities, keep an eye on our social media, email updates, and website, or speak with our branch staff. These limited-time offers can help you grow your savings while keeping your money fully protected. Rates may change, and conditions apply.
Ready to invest in a GIC?
We can help you choose and open your GIC over the phone or online, and you can visit us in person at a branch.
Call us
at 1‑800‑616‑8878
Book an appointment
to meet with us virtually
Visit us
at one of our branches