With a self-directed investing account, you can easily buy GICs online. Here’s a spot check of the available rates for 1 year non-redeemable RRSP GICs offered on BMO InvestorLine and CIBC Investor’s Edge at the same time.
The minimum purchase amount for this type of GIC for both InvestorLine and Investor’s Edge inside a Registered account (e.g. RRSP) is $5000. After that, though, the amount goes up by $1 increments, so you can buy a $5001 or a $5123 GIC if you want.
Written: 2012
Reviewed: 2023
Revised: 2014; 2023
| Institution | BMO InvestorLine Rate | CIBC Investor’s Edge Rate |
| Rates in 2012 | ||
| Home Trust Co | 1.85 % | n/a |
| Montreal Trust Canada | 1.35 % | 1.35 % |
| National Trust | n/a | 1.35 % |
| Pacific Western Bank | n/a | 1.6 % |
| People’s Trust | 1.45 % | 1.45 % |
| Rates on Feb 2 2014 | ||
| Home Trust Co | 1.65 % | n.a. |
| Montreal Trust Canada | 1.43 % | 1.43 % |
| National Trust | n.a. | 1.43 % |
| Pacific Western Bank | n.a. | 1.47 % |
| People’s Trust | 1.45 % | 1.45 % |
| Rates on Jan 27 2023 | ||
| Home Equity | 4.9 % | 4.9 % |
| Montreal Trust | 4.85 % | 4.85 % |
| National Bank | 4.85 % | 4.85 % |
| Canadian Western Bank | 4.91 % | 4.91 % |
| People’s Trust | 4.6 % | 4.6 % |
As you can see, the two banks offer GICs from different financial institutions. Rates change daily and sometimes even within a day. Banks also add and remove financial institutions from time to time.
Related Reading
- Maximize GIC Returns by Carefully Considering the Annual Rates Before Locking In Long Term
- How to Buy a GIC in a CIBC Investor’s Edge Self-Directed Investing Account
- Pros and Cons of Buying GICs in a Self-Directed Online Brokerage Account
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