FOR ANYONE WITH MONEY IN GICs
Your GIC is coming up for renewal. See what 2027 has in store for it.
GICs that paid 4% to 5% are maturing and renewing at lower rates. Before you sign your renewal, read what could happen to interest rates in Canada in 2027, and how much it changes for your money.
Free · 10-minute read · We don’t sell your data
What you’ll read
- 01
What the market expects from Bank of Canada rates in 2027. The cut, hold, and hike scenarios, with sources.
- 02
What each scenario means for 1-, 3- and 5-year GICs. An example with $50,000, showing what it earns in each case.
- 03
What’s left after inflation. Your GIC’s real return, after the rising cost of living.
- 04
Renew now or wait? The pros and cons of locking in today’s rate, laddering your maturities, or keeping part of your money available.
- 05
Alternatives to GICs. What’s out there beyond fixed income, with the risk of each one explained plainly.
Renewing takes a minute. The consequences last for years.
Your bank calls, offers you the rate of the day, and you sign. If rates go up afterwards, your money is stuck at a lower rate until maturity. If they go down, anyone who didn’t lock in loses out. The report shows both sides so you can decide based on the numbers, not on impulse.
- Bank of Canada policy rate
- 2.25%
- 1-year GIC at the big banks
- 2.45% to 3.30%
- Annual inflation (CPI)
- 3.0%
Sources: Bank of Canada, Statistics Canada and bank websites, accessed October 2026.
Canada Savings Report 2027
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