Best Cashable and Redeemable GICs In Canada For February 2025

We selected the RBC Redeemable Semi-Annual Compound Interest GIC for its flexibility and return. Across all term lengths, you’ll earn a 3.45% APY. This GIC uniquely provides semi-annual interest payments instead of delaying a lump sum to maturity.

Related: Best RBC GIC Rates In Canada

The RBC Redeemable Semi-Annual Compound Interest GIC is a noteworthy option for those looking to maintain some liquidity with their investments without sacrificing the potential for earnings. Its eligibility for Canada Deposit Insurance Corporation (CDIC) insurance provides an extra layer of reassurance, protecting your investment up to $100,000. With the opportunity to receive semi-annual interest payments, this GIC aligns well with those favouring consistent cash flow.

The CIBC Flexible RRSP GIC offers a competitive interest rate with a low deposit requirement. With its one-year term, you’ll earn a 4.50% return on investment. It’s ideal for short-term savings or holding onto temporarily before moving to long-term investments. Its availability in RRSP accounts adds to its versatility, and the option for automatic renewal at maturity ensures continual investment growth without any hassle.

The CIBC Flexible RRSP GIC offers a strategic option for investors looking to balance the need for high returns with the flexibility of being able to access their funds at any time. The product’s eligibility for CDIC insurance provides an added security layer, ensuring that your investment is protected up to $100,000.

We chose the CIBC Flexible TFSA GIC for its competitive 4.50% APY, which offers high returns and tax-free savings. This GIC is ideal for those looking to grow their savings within a tax-free savings account. It combines the benefits of a fixed interest rate with the flexibility of cashing out early if needed without forfeiting the tax-free status of the account.

The CIBC Flexible TFSA GIC is a strategic choice for savers seeking to maximize their investment within a tax-free savings account, offering a solid 4.50% APY. It’s designed for those who value flexibility in their savings strategy, giving investors early access to funds while benefiting from tax-free interest earnings.

We chose the RBC Redeemable GIC for its standout interest rates ranging from 0.60% to 3.45% and the flexibility it offers across term options from 30 days up to 10 years. This GIC exemplifies a mix of reliable returns with the added advantage of early withdrawal

The RBC Redeemable GIC offers a unique blend of flexibility and competitive returns. With an APY of up to 3.45%, this product stands out for those looking for higher returns without locking in their investment for an extended period. It allows for early withdrawal after 30 days without losing interest, catering to investors who value liquidity alongside guaranteed income.

We chose the Three-Year Rate Climber Term Deposit for its innovative structure that rewards investors with increasing interest rates annually, providing a unique blend of growth potential and flexibility. This product is particularly attractive for its yearly redeemable feature, allowing you access your funds at each anniversary without penalty. It’s designed for those seeking higher returns over time, but also want the option to stay adaptive to changing financial goals.

The Three-Year Rate Climber Term Deposit stands out for its unique interest rate structure, which climbs yearly, enhancing the investment’s growth potential. It’s fully redeemable on each anniversary, offering a blend of security and flexibility with its minimum investment of $1,000 and eligibility for various account types.

The BMO US$ Term Deposit Receipt was picked for its attractive interest rate, amongst other features. The star is the 4.75% APY for terms between one and under two years, providing an excellent option for U.S. dollar investments. This product stands out for its flexibility, allowing for full or partial redemptions at any time at a predetermined rate. It is also eligible for CDIC deposit insurance up to applicable limits.

The BMO US$ Term Deposit Receipt is a versatile investment option. It offers a competitive guaranteed interest rate and the flexibility to access funds when needed. Interest is paid semi-annually for terms equal to or greater than one year, enhancing the investment’s earning potential over time. This GIC product is designed for personal and business banking clients, making it accessible to investors looking for a secure and profitable way to manage their U.S. dollar funds.

We chose the TD Bank 100-Day TD Special Offer GIC Registered for its impressive flat APY of 4.00%, offered regardless of the initial deposit amount, coupled with a notably short term of just over three months. This GIC especially appeals to those looking to bolster their tax-deferred retirement savings or achieve tax-free savings goals, providing a guaranteed return on investment in a brief period.

The TD Bank 100-Day TD Special Offer GIC Registered offers a unique opportunity for investors to earn a high rate of 4.00% interest with a very short commitment period. It’s designed to be flexible, with options for early cash-out after 30 days, making it ideal for investors seeking both a guaranteed return and accessibility to their funds. Interest is calculated simply on the principal amount for the term and is paid at maturity. This GIC automatically renews for another 100 days at the prevailing interest rate, ensuring continuous investment growth with minimal effort.

We chose the BMO RateRiser Plus GIC for its innovative approach to maximizing returns. Like a GIC laddering strategy, the interest rate escalates yearly, eventually reaching 4.50% APY after five years. This product distinguishes itself with its flexibility, thanks to the opportunity to redeem at each anniversary and eligibility for a wide range of account types, including a RRSP, RESP, RIF, TFSA and FHSA.

The BMO RateRiser Plus GIC provides a competitive, escalating interest rate that rewards longer-term investments. This GIC is fully cashable on each anniversary, allowing investors to reassess their investment annually. However, it requires keeping the funds invested to take full advantage of the escalating rates, with a pre-established annual increase.

We selected the KEB Hana Bank Canada Term Deposit for its compelling interest rates, combining flexibility with high fixed interest across various terms. This GIC distinguishes itself with the option for partial withdrawals before maturity, offering some access to cash twice before maturity.

The KEB Hana Bank Canada Term Deposit is an attractive option for individuals looking for competitive returns with the added benefit of investment liquidity. With the flexibility to make partial withdrawals, this product suits investors seeking growth and accessibility in their savings. However, your interest rate depends on your invested amount. Specifically, the best rates only become available after you have over $100,000 in GICs.

We selected the RBC Redeemable GIC for its competitive rate of 3.325% APY, guaranteed return and the flexibility of cashing out early. This GIC is perfect for investors seeking a short-term investment horizon and the convenience of monthly interest payments for larger deposits.

The RBC Monthly Interest Redeemable GIC boasts a competitive 3.325% APY. It offers investors guaranteed returns with one to 10 year terms, but limited flexibility to cash out early because a balance of $5,000 must be maintained for that privilege. This GIC is eligible for CDIC insurance up to $100,000 and comes with access to RBC’s digital advisory services for enhanced investment planning. However, RBC’s interest rates are lower than non-cashable options, and some investors may consider the minimum deposit requirement of $5,000 high. Redeemable eligibility extends to non-registered, RRSP and TFSA accounts, although not all payment options may be available for every plan type.