Rate guide · data as of 2026-10-16

Best short-term GIC rates in Canada

Every GIC term under a year — from 30-day to 9-month — ranked across the banks and credit unions we track. Short terms pay interest at maturity and keep your money liquid.

See top rates ↓ · All GIC terms · Savings rates

Highest under 1 year4.40%DUCA90-day GIC
for a term of:
with registration:
with redemption:
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Best short-term rates in All Canada

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Short-term GICs, explained

What counts as short-term?

A short-term GIC (also called a cashable or term deposit) locks your money for less than a year — commonly 30, 60, 90 or 120 days, or 6 or 9 months. Because the term is under a year, the interest arrives in a single lump at maturity rather than accruing across tax years, which keeps the paperwork simple.

Why choose one?

Short terms suit money you'll need soon, a parking spot while you decide, or the near rungs of a GIC ladder. You give up the higher rate a longer term pays in exchange for getting your principal back sooner — often at a rate that still beats a plain savings account.

Days vs months

Brands label the same term either way — a 90-day GIC and a 3-month GIC are the same product. We rank everything on the underlying term length in days, so however an institution names it, it lands in the right board above.

Short-term vs savings: a short GIC usually pays more than a high-interest savings account, but locks the money for the term. If you might need it sooner, compare against the best savings rates first.

Short-term GIC questions

Is a 90-day GIC the same as a 3-month GIC?

Yes. Brands label the same term either way, so we rank them together — a 90-day and a 3-month GIC sit in the same board here.

Can I hold a short-term GIC in a TFSA or RRSP?

Sometimes — use the GIC type filter to see the ones that qualify. Most short-term GICs are sold non-registered, so the registered list is short.

When do I get the interest?

For any term under a year, interest is paid once, at maturity, along with your principal. There's no monthly or annual payout on these short terms.

Are short-term GICs insured?

Yes. Bank and trust GICs are CDIC-insured ($100,000 per category); credit-union GICs are covered by provincial funds. The coverage is the same whatever the term length.