Rate guide · data as of 2026-10-16

Best RRSP rates in Canada

An RRSP is a registered account, not an investment itself. These are the highest GIC and savings rates you can hold inside one, across every Canadian bank and credit union we track. Contributions are tax-deductible and the interest grows tax-deferred until you withdraw.

All GIC rates · HISA · TFSA · RRSP · FHSA

Highest RRSP rate4.50%Oaken Financial5-year GIC
for a plan of:
with redemption:
display rates from institutions in:

RRSP GIC rates in All Canada

We hunt. You gather.

Rates move with every delivery. Get rate alerts from Ratehunter and you'll be the first to know when a higher RRSP GIC rate lands.

Get rate alerts

RRSP GIC rate history

Best posted RRSP GIC rate, by term

Term
Latest4.05%Oct 16, 2026
Last change+0.20%Oct 2, 2026
High4.05%Oct 2, 2026
Low3.70%Jul 16, 2026
6%5%4%3%2%Jul 26Aug 26Sep 26Oct 26

Tracked since Jul 16, 2026 · 34 snapshots

RRSP savings account rates

Liquid registered savings — the rate can change, but there's no lock-in.

  1. 1Meridian Credit UnionHigh-interest4.40%
  2. 2Rosenort Credit UnionDaily interest · min $250,0003.35%
  3. 3VantageOne Credit UnionDaily interest3.10%
  4. 4Wealth One Bank of CanadaHigh-interest3.00%
  5. 5Saven FinancialHigh-interest2.85%
  6. 6Oaken FinancialDaily interest2.80%
  7. 7Hubert FinancialDaily interest2.50%
  8. 8Parama Credit UnionDaily interest2.50%
  9. 9Souris Credit UnionDaily interest2.45%
  10. 10Steinbach Credit UnionDaily interest · min $250,0002.40%

RRIF savings account rates

The account your RRSP converts into by the end of the year you turn 71 — these are the registered savings rates delivered for RRIFs.

  1. 1Meridian Credit UnionHigh-interest4.40%
  2. 2Rosenort Credit UnionDaily interest · min $250,0003.35%
  3. 3Saven FinancialHigh-interest2.85%
  4. 4Hubert FinancialDaily interest2.50%
  5. 5Parama Credit UnionDaily interest2.50%
  6. 6Souris Credit UnionDaily interest2.45%
  7. 7Steinbach Credit UnionDaily interest · min $250,0002.40%
  8. 8Equity Credit UnionDaily interest2.05%

The RRSP, explained

Why hold a GIC in an RRSP?

A GIC gives you a guaranteed rate, and inside an RRSP the interest compounds tax-deferred while your contribution lowers this year's taxable income. It suits the fixed-income part of a retirement portfolio.

Longer terms often fit

Because RRSP money is usually earmarked for retirement, you can often commit to longer, higher-paying terms. A GIC ladder keeps some maturing each year.

Converting to a RRIF

By the end of the year you turn 71 your RRSP must convert to a RRIF or annuity. A maturing GIC ladder lines up with the income you'll draw in retirement — the RRIF savings board below shows where that money can sit.

RRSP questions

Is an RRSP the same as a GIC?

No. An RRSP is a registered account; a GIC is one of the investments you can hold inside it, alongside mutual funds, stocks and others. This page ranks the best GIC and savings rates available in an RRSP.

Are RRSP contributions tax-deductible?

Yes. What you contribute, up to your available RRSP room, is deducted from your taxable income for the year, and the GIC's interest grows tax-deferred until withdrawal.

When is it taxed?

You pay tax only when you withdraw, ideally in retirement when your income and rate are lower. Withdrawals count as income in the year you take them.

Can I hold a GIC in both an RRSP and a TFSA?

Yes. Many people do. The RRSP defers tax now; the TFSA shelters it entirely. Confirm you're buying the right registered version when you apply.