Banking methodology
How we choose products & make money
We compare the best GIC and savings rates in Canada and tell you exactly how the list is built, how fresh the rates are, and how we keep the lights on — without selling rankings.
Last updated June 7, 2026
How we choose which products to show
We track posted rates from 16 Canadian banks and credit unions, with a bias toward the deposit-focused institutions that consistently lead on rate — online banks like EQ Bank, Oaken, and Neo, and credit unions like Hubert, Achieva, and Saven. We include an issuer when it meets two tests: its deposits are protected (by CDIC or a provincial guarantee), and a retiree or everyday saver can realistically open an account with it.
We deliberately surface options the big banks would rather you didn't compare against — the higher-rate challengers and credit unions — because that's where the better deals usually are.
How we rank them
Rankings are editorial and are never for sale. No bank can pay to appear higher, and our commissions (see below) have no bearing on the order. The default sort is simply the highest posted rate for the term you're viewing.
Our comparison table sorts by rate for whichever term you select. Where rates are close, we note the things that actually matter to a saver: the minimum deposit, whether registered (TFSA/RRSP/RRIF) GICs are available, and how the deposit insurance works — because a credit union with an unlimited provincial guarantee can be a better home for a large balance than a bank capped at $100,000.
How we keep rates current
Rates are compiled by hand from each issuer's own website and stamped with the date we last checked — currently June 7, 2026. Posted rates change often, sometimes with no notice, and promotional rates come and go. We refresh regularly, but the rate you see here can lag the issuer's live rate.
So treat our table as a starting shortlist, not a quote. Always confirm the current rate, term, and conditions on the issuer's site before you move money. If you ever spot a stale rate, email us at hello@retiresmarter.ca and we'll fix it.
How we make money
Some of the links to issuers on our banking pages are affiliate links. If you open an account through one of them, the issuer may pay us a commission — at no extra cost to you. That revenue keeps RetireSmarter free and free of bank-pushed product pitches.
Two promises about that arrangement:
- It never changes our rankings. The highest rate is shown first whether or not we earn anything from that issuer.
- We show products we don't earn from when they're the best option, so the comparison stays complete and honest.
We mark monetized pages with a clear advertiser disclosure. Affiliate links are tagged so search engines and screen readers can identify them.
What we are — and aren't
RetireSmarter.ca is an independent education site. We are not a bank, broker, deposit broker, or registered advisor, and nothing here is financial advice. Deposit insurance coverage depends on the institution and your account structure; confirm the details with CDIC or your provincial deposit-insurance corporation. See our Terms for the full picture.
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