Canadian High Interest Savings Bank Accounts - Forum: GIC discussions https://www.highinterestsavings.ca/forum/gic/ Simple:Press Version 6.11.10 RetirEd on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114464 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114464 I'm still collecting on high-rate 3- and 5-year paper from the peak. Wish I'd had the balls to take more, but the 3-year paid well despite the shorter span. After all, we have no crystal balls.

I guess the people who shorted Canada are cackling like vultures now.

]]> Thu, 20 Aug 2026 20:10:26 -0700 Norman1 on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114461 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114461

Dean said
Careful what you with for❗

That's right. No-one wants to see those conditions again that pushed interest rates so high:

Norman1 said
Yes, inflation was a serious problem at that time.

Adding the inflation rate and 5-year GIC rates (from David Trahair's article "GICs and the Inflation Argument" mentioned by Bill earlier) to the table gives a better context for those CSB rates:

Series Issue Date 1981 1982 1983 1984 1985 1986 1987
S36 01/11/1981 19.50 12.00 10.50 11.25 10.50 10.50 10.50
Inflation (CPI) 12.50 10.90 5.80 4.30 4.00 4.10 4.40
5-year GIC 15.36 14.57 11.52 11.97 10.80 9.73 9.61
]]> Thu, 20 Aug 2026 13:28:43 -0700 NCC1701Z on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114459 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114459 https://lifeannuities.com/term.....e/male.php
10 year Term certain pays 3%
20 year pays 3.7%

https://apps.royalbank.com/app.....uilder-gic
pays 3.3% 10 years

Provincial bonds and strips pay almost 5%

strips.pngprovbonds.png

]]> Thu, 20 Aug 2026 08:58:39 -0700 Dean on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114458 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114458 .
That ⬆️ was 'Then'.

This is Now.

Careful what you with for❗

    Dean
]]> Thu, 20 Aug 2026 07:21:53 -0700 NCC1701Z on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114447 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114447

Dean said
.
I can't imagine being locked-in to a 10 Yr (a whole Decade) GIC❗

It's no wonder they're rare as hen's teeth.

To each their own, I guess.
Dean  

Back in the 80's when GIC rates were 19% I would have locked in for 20+ years !

]]> Thu, 20 Aug 2026 05:04:41 -0700 Wrayzor on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114446 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114446 From the CDIC FAQs:

What were the changes to the coverage of term deposits?

Effective April 30, 2020, term deposits of more than five years are eligible for CDIC protection. The five-year term limit has been removed. Keep in mind that the deposits with terms of over five years would not receive separate coverage but would be combined with other deposits within the same category.

https://www.cdic.ca/depositors.....rces/faqs/

]]> Thu, 20 Aug 2026 04:43:41 -0700 saver99 on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114441 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114441

Bill said
saver99, cdic.ca has your answer re GICs coverage.  

Thanks for the post and apologies for the laziness for not looking this up before chiming in. I visited the CDIC website just now and could not locate the specific information on this question. I have since reached out to them for more details and look forward to their response.

]]> Thu, 20 Aug 2026 03:19:48 -0700 Dean on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114439 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114439 .
I can't imagine being locked-in to a 10 Yr (a whole Decade) GIC❗sf-surprised

It's no wonder they're rare as hen's teeth.

To each their own, I guess.

    Dean
]]> Thu, 20 Aug 2026 02:31:38 -0700 Bill on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114435 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114435 saver99, cdic.ca has your answer re GICs coverage.

]]> Thu, 20 Aug 2026 01:00:23 -0700 AltaRed on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114433 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114433

Wrayzor said
The big 5 used to have them. BMO still does.  

BMO today pays 3.25% for a 10 year GIC vs 3% for a 5 year GIC. That is a minimal premium for being locked in an additional 5 years...in an era of unpredictable forward inflation.
https://www.bmo.com/main/perso.....gic-rates/

]]> Thu, 20 Aug 2026 00:42:51 -0700 Wrayzor on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114432 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114432 The big 5 used to have them. BMO still does.

]]> Thu, 20 Aug 2026 00:08:24 -0700 saver99 on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114429 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114429 I was always under the impression that GICs over 5 years are not covered by CDIC. Not sure if this is (still) the case and/or if there are any nuances to this.

]]> Wed, 19 Aug 2026 11:51:13 -0700 NCC1701Z on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114428 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114428 Being retired, I'm kicking myself for not locking into 5+ years when rates were 5.6% a few years ago. I still have a few over 5% until 2028 or 9. Inflation isn't much of an issue in your 70's where CPP/OAs covers most of it

]]> Wed, 19 Aug 2026 10:48:01 -0700 AltaRed on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114427 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114427 I think most are investment (market linked) products now. I am not sure why one would actually want a GIC for more than a 5 year period. The premium over a 5 year is almost non-existent (currently only about a 30-40bp premium between a 5 and 10 year bond, about as wide as it has been for awhile). That small premium hardly compensates for potential exposure to inflation risk over that long a period.

Go to https://www.bankofcanada.ca/ra.....ian-bonds/ and select only the 5 year and 10 year government of Canada lines for a comparison.

]]> Wed, 19 Aug 2026 10:08:54 -0700 NCC1701Z on GIC's over 5 years https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114426 GIC discussions https://www.highinterestsavings.ca/forum/gic/gics-over-5-years/#p114426 Motive used to have GIC's up to 10 years but they were taken over by NBC. Anywhere else that has over 5 year GIC's?

]]> Wed, 19 Aug 2026 08:24:50 -0700