About this page. TopRates.ca does not currently publish live GIC, HISA, or robo-advisor rates. Comparing investing products requires methodology we haven't finished building yet — including timestamped rate snapshots, links to each provider's official rate disclosure, and a documented review process similar to the one we use for credit cards. See our credit card methodology for the template we plan to follow. Until that infrastructure is in place, this page stays educational.
Guaranteed Investment Certificates (GICs)
A GIC is a deposit product where you lock money in for a fixed term (typically six months to five years) in exchange for a guaranteed interest rate. The rate is set when you buy the GIC and doesn't change. You can't withdraw early without a penalty (and many GICs don't allow early withdrawal at all).
What we can't tell you yet
Which provider has the highest GIC rate today. Rates change frequently and we haven't yet built the sourcing and timestamping infrastructure needed to publish a comparison table responsibly. Check each provider's rate page directly, or talk to your financial institution.
High-Interest Savings Accounts (HISA)
A HISA pays a higher interest rate than a regular savings account, with no term commitment — you can withdraw any time. Promotional rates are common when you open a new account; check whether the rate is ongoing or limited-time.
HISA vs. regular savings
HISA
- Materially higher interest rate
- Withdraw anytime
- CDIC protected up to $100,000
- Most have no monthly fees
Regular savings
- Very low base interest rate
- Withdraw anytime
- CDIC protected
- Often bundled with a chequing account
Robo-Advisor Platforms
Robo-advisors are online investment platforms that build and manage a diversified ETF portfolio for you, automatically, based on a short questionnaire about your goals and risk tolerance. They charge a management fee on top of the ETF fees inside the portfolio. They're a low-friction way to start investing if you don't want to pick stocks.
How robo-advisors work
Take quiz
Answer questions about goals, time horizon, and risk tolerance
Get portfolio
Receive a diversified ETF-based portfolio matched to your answers
Automated investing
Your portfolio is rebalanced automatically as markets move
Monitor and adjust
Update your goals or risk tolerance any time as your life changes
Canadian tax-advantaged accounts
Most Canadians can invest inside an RRSP or a TFSA. They handle tax very differently and suit different goals. Contribution limits are set by the Canada Revenue Agency each year — check the CRA website for current limits before contributing.
Common investing questions
Where should a beginner start?
A common starting point in Canada is to open a TFSA at a robo-advisor or discount broker, set up a small automatic monthly contribution, and pick a diversified ETF portfolio that matches your risk tolerance. The exact platform and portfolio depend on your goals, time horizon, and how hands-on you want to be.
GIC, HISA, or stocks — how do I choose?
GICs offer a guaranteed return but lock your money in for a fixed term. HISAs are flexible and pay a modest interest rate while keeping your money accessible. Stocks (typically via ETFs in a diversified portfolio) offer the highest long-term return potential but with volatility. Most Canadians use a mix — short-term cash in a HISA, medium-term goals in GICs, long-term investing in stocks/ETFs.
How much should I invest each month?
Less than you might think can compound meaningfully over decades. Many financial educators recommend starting with whatever amount you can maintain consistently, then increasing as income grows. Consistency tends to matter more than the starting amount.
Is it too late to start investing?
No. Whether you are 25 or 55, the time value of investing depends on how long until you need the money — not on the calendar. A 55-year-old planning to work and invest until 75 still has 20 years of potential compounding.
Why does TopRates.ca not show a rate table for GICs?
Rates change frequently, and listing a specific rate without a verifiable as-of date and a link to the provider’s rate disclosure isn’t something we’re willing to do until we’ve built the methodology and sourcing infrastructure. We hold ourselves to the same standard we apply on /credit-cards/methodology.