About Home Equity Bank
HomeEquity Bank is a Schedule I chartered bank headquartered in Toronto, founded in 1986 as the Canadian Home Income Plan Corporation. It is Canada's leading provider of reverse mortgages for homeowners aged 55+ under the CHIP brand (plus Income Advantage and CHIP Max), and also issues CDIC-insured GICs to fund its lending. Since July 2022 it has been owned by the Ontario Teachers' Pension Plan.
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Access: Not sold directly to consumers — available through a financial broker or financial advisor only
Eligible provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland & Labrador, Nova Scotia, Northwest Territories, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon
How to join: Apply for a CHIP reverse mortgage directly or through a mortgage broker, or buy HomeEquity Bank GICs through a deposit broker or investment advisor.
Deposit protection: Canada Deposit Insurance Corporation
$100,000 per insured category per member institution
Current top rates
data as of 2026-10-16 · posted rates confirmed as of 2026-10-02| GIC ladder | Best rate |
|---|---|
| 1-year GIC | 3.38% |
| 2-year GIC | 3.85% |
| 3-year GIC | 4.13% |
| 4-year GIC | 4.16% |
| 5-year GIC | 4.25% |
Base ladder rates. Institution may have more term rates below.
GIC rate history
Best historical posted GIC rate by term
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Term deposit rates
— not stated on sitedata as of 2026-10-16Filter rates
| Term | Registration | Redeemable | Compounding | Interest paid | Min–Max deposit | Rate |
|---|---|---|---|---|---|---|
| Long-term — 1 year + | ||||||
| 1 year | Non-reg | N | Annually———— | At maturityAnnuallySemi-annuallyQuarterlyMonthly | $5k+$5k+$5k+$5k+$5k+ | 3.38%3.38%3.34%3.31%3.29% |
| 2 years | Non-reg | N | Annually———— | At maturityAnnuallySemi-annuallyQuarterlyMonthly | $5k+$5k+$5k+$5k+$5k+ | 3.85%3.85%3.81%3.78%3.76% |
| 3 years | Non-reg | N | Annually———— | At maturityAnnuallySemi-annuallyQuarterlyMonthly | $5k+$5k+$5k+$5k+$5k+ | 4.13%4.13%4.09%4.06%4.04% |
| 4 years | Non-reg | N | Annually———— | At maturityAnnuallySemi-annuallyQuarterlyMonthly | $5k+$5k+$5k+$5k+$5k+ | 4.16%4.16%4.12%4.09%4.07% |
| 5 years | Non-reg | N | Annually———— | At maturityAnnuallySemi-annuallyQuarterlyMonthly | $5k+$5k+$5k+$5k+$5k+ | 4.25%4.25%4.21%4.18%4.16% |
No rates match these filters.
Mortgage rates
rates confirmed as of 2026-10-02Filter rates
| Term | Type | Open / closed | Insured | Posted rate |
|---|---|---|---|---|
| 6-month | Fixed | Closed | No | 6.99% |
| 1-year | Fixed | Closed | No | 7.59% |
| 3-year | Fixed | Closed | No | 7.29% |
| 5-year | Fixed | Closed | No | 7.54% |
| 1-year | Variable | Closed | No | 7.11%Prime + 2.66% |
No mortgage rates match these filters.
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