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SBI Canada Bank

Bank· Toronto, Ontario· Since 1982Open to all

Profiled by Ratehunter

data as of 2026-10-16 · How we track rates

About SBI Canada Bank

SBI Canada Bank is a Schedule II Canadian bank established in 1982 as a wholly owned subsidiary of the State Bank of India, the first Indian bank to operate in Canada. It offers personal and business banking — accounts, GICs, mortgages, trade finance — plus remittances to India, student GICs, and NRI services, and is a CDIC member.

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Access: Open to all Canadians

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: Open an account at one of its branches in Ontario, British Columbia, or Alberta.

Deposit protection: Canada Deposit Insurance Corporation

$100,000 per insured category per member institution

How deposit insurance works →

Current top rates

rates confirmed as of 2026-09-22

Best GIC · 5-year3.40%

GIC ladder	Best rate
1-year GIC	3.30%
2-year GIC	3.30%
3-year GIC	3.35%
4-year GIC	3.35%
5-year GIC	3.40%

Base ladder rates. Institution may have more term rates below.

GIC rate history

Best historical posted GIC rate by term

Term

Latest3.30%Oct 16, 2026

Last change+0.30%Sep 17, 2026

High3.30%Sep 17, 2026

Low3.00%Jul 16, 2026

Tracked since Jul 16, 2026 · 34 snapshots

Term deposit rates

— not stated on siterates confirmed as of 2026-09-22

Filter rates

Term	Registration	Redeemable	Compounding	Interest paid	Min–Max deposit	Rate
Short-term — under 1 year
3 months	Non-reg	N	Annually	At maturity	—	2.75%
6 months	Non-reg	N	Annually	At maturity	—	2.80%
9 months	Non-reg	N	Annually	At maturity	—	2.80%
Long-term — 1 year +
1 year	Non-regRRSPTFSA	N	Annually	At maturity	—	3.30%
1 year	Non-reg	cashable	—	At maturity	—	2.40%
2 years	Non-regRRSPTFSA	N	Annually	At maturity	—	3.30%
3 years	Non-regRRSPTFSA	N	Annually	At maturity	—	3.35%
4 years	Non-regRRSPTFSA	N	Annually	At maturity	—	3.35%
5 years	Non-regRRSPTFSA	N	Annually	At maturity	—	3.40%
Redeemable GIC (RGIC)Redeemable · compounds annually · paid at maturity
1 year	Non-reg	Y	Annually	At maturity	—	2.50%
2 years	Non-reg	Y	Annually	At maturity	—	2.60%
3 years	Non-reg	Y	Annually	At maturity	—	2.60%
4 years	Non-reg	Y	Annually	At maturity	—	2.60%
5 years	Non-reg	Y	Annually	At maturity	—	2.60%
Student GIC Account ( Non-Renewable & Non-Redeemable GIC)Non-redeemable · paid at maturity
1 year	Non-reg	N	—	At maturity	—	1.05%
U.S. dollar — all terms
3 months	Non-reg	N	Annually	At maturity	—	3.90%
6 months	Non-reg	N	Annually	At maturity	—	4.05%
9 months	Non-reg	N	Annually	At maturity	—	4.10%
1 year	Non-reg	N	Annually	At maturity	—	4.30%
1 year	Non-reg	cashable	—	At maturity	—	3.50%
2 years	Non-reg	N	Annually	At maturity	—	4.00%
3 years	Non-reg	N	Annually	At maturity	—	4.00%
4 years	Non-reg	N	Annually	At maturity	—	4.00%
5 years	Non-reg	N	Annually	At maturity	—	4.00%
Redeemable GIC (RGIC)Redeemable · compounds annually · paid at maturity
1 year	Non-reg	Y	Annually	At maturity	—	3.50%
2 years	Non-reg	Y	Annually	At maturity	—	3.50%
3 years	Non-reg	Y	Annually	At maturity	—	3.50%
4 years	Non-reg	Y	Annually	At maturity	—	3.50%
5 years	Non-reg	Y	Annually	At maturity	—	3.50%

Savings & chequing rates

rates confirmed as of 2026-09-22

Filter rates

Type	Product	Calculated	Paid	Min. balance	Rate
Savings
Savings	Student Investment Account	—	Annually	—	0.20%

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