The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
Latest News
What to expect for GICs in 2024 Nov 21st
In late 2020, major banks were offering 5-year guaranteed investment certificates (GICs) with rates of less than 1%. Now, just three years later, bank GIC rates for 5-year terms are over 4%. Some credit unions and trust companies are offering rates over 6% for short-term GICs, though 4- and 5-ye.... More »
It’s probably time you switched banks—4 easy steps for Canadians + MORE Jun 29th
When you opened your first bank account, chances are it was with the same financial institution your parents used—because, why not? And given how loyal Canadians are to their banks, there’s a good chance you’re still banking with the same institution. In fact, 70% of Canadians held the sa.... More »
The best GIC rates in Canada for 2026 Feb 4th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Shareholders push for ethical AI use at Canada’s biggest companies Jul 23rd
When Canada’s most valuable companies hosted their annual general meetings this year, there was a new topic for shareholders to vote on among the usual requests to appoint board members and OK their executive compensation.
The proposal from Quebec-based investor rights group le mouvement d’é.... More »
What is a Credit Union? + MORE Sep 16th
For most Canadians, financial institutions come in two forms: a bricks-and-mortar bank, or the online version of the same thing. But for many, particularly in Quebec and western Canada, there’s an alternative option: credit unions.
Origin of the Credit Union
At the beginning of the 20th century, .... More »
The rise in part-time employment is nothing more than a pullback after companies hired more full-time workers than they needed coming out of the recession, one of Canada’s largest banks says.
