Banking · GIC review
WealthONE Bank of Canada GIC review
A Schedule I bank that competes hard on rate — frequently posting the top 5-year GIC in the country, with full CDIC coverage behind it.
Best for: Savers who want a top long-term rate with the certainty of CDIC insurance
Pros
- Often posts the highest 5-year GIC rate in our table
- Federally regulated Schedule I bank with full CDIC coverage
- TFSA, RRSP, RRIF and non-registered GICs available
- Frequent rate promotions across terms
Cons
- $1,000 minimum to open
- Smaller, less familiar brand than the challenger names
- Online and phone service — no branch network
Who WealthONE is
WealthONE Bank of Canada is a federally regulated Schedule I bank and a CDIC member. It is a younger, deposit-focused bank that competes primarily on rate, running frequent promotions to stay near the top of the GIC tables.
It is not an everyday-banking brand — there is no branch network and no flashy app. WealthONE is a place to lock money in at a strong rate with the comfort of CDIC, which for many GIC buyers is exactly the point.
The rates — strongest at the long end
WealthONE is a consistent contender across the curve and frequently posts the highest 5-year rate in our comparison. It is also competitive on the 2- to 4-year terms, where it often edges the better-known challenger banks.
If you are locking in for the long term and want CDIC behind the deposit, WealthONE deserves a look. Compare its live rate against the field on our best GIC rates page.
Safety and deposit insurance
GICs at WealthONE are covered by CDIC — up to $100,000 per depositor, per insured category, covering principal and interest if the bank ever failed. That is the same federal coverage the big banks carry, so a smaller brand does not mean a weaker backstop.
If you are placing more than $100,000, you can stay fully insured by spreading across categories (individual, joint, TFSA, RRSP each count separately) or across institutions. Our CDIC guide walks through how to structure that.
Frequently asked questions
What are WealthONE Bank of Canada's GIC rates today?
As of June 13, 2026, WealthONE Bank of Canada posts 3.55% on a 1-year term, 3.90% on a 2-year term, 3.90% on a 3-year term, 3.95% on a 4-year term, 4.10% on a 5-year term on non-redeemable GICs. Rates change without notice — see how they compare against every issuer on our best GIC rates table, refreshed daily.
What is the minimum to open a WealthONE Bank of Canada GIC?
$1,000. WealthONE Bank of Canada also offers registered versions, so you can hold these GICs inside a TFSA, RRSP or RRIF.
Are WealthONE Bank of Canada GICs protected if the bank fails?
CDIC-insured to $100,000 per category. See our deposit-insurance guide for how to structure larger amounts.
The bottom line
WealthONE is an easy recommendation for a long-term GIC: it frequently tops the 5-year table and carries full CDIC insurance, so you get a leading rate without stepping outside the federal scheme. The brand is less familiar than EQ or Oaken, but the coverage is identical. See where its rate sits today on the comparison table.
Ready to compare WealthONE Bank of Canada against the field?
See where its rate sits today across every issuer and term.
This review is for educational purposes only and is not financial advice. Rates shown are posted non-redeemable rates compiled by hand and last checked June 13, 2026; they change frequently. Our editorial rating reflects rate competitiveness, coverage, minimums, and account features — it is never paid for. Confirm current rates, terms, and CDIC or provincial deposit-insurance details on the issuer's website before investing. See our methodology for how we rate products and make money.