Pick the account before the investment , not after.
TFSA, RRSP, FHSA or GIC: the posted return is not the one you keep. Look at the horizon, the tax treatment and the fees before you pick the account.
GIC rates recorded
| Product | Rate | Source and date |
|---|---|---|
| 1-year GIC (average posted rate)Banque du Canada | 2.45% | Source · October 7, 2026 |
| 3-year GIC (average posted rate)Banque du Canada | 3.20% | Source · October 7, 2026 |
| 5-year GIC (average posted rate)Banque du Canada | 2.75% | Source · October 7, 2026 |
Recorded on (19 days ago). How we record rates
Average of posted rates at chartered banks, published by the Bank of Canada. A specific GIC can offer more or less.
Put numbers on your situation
For information only: not an approval, and not a rate offer.
How we calculate
Future value of the initial deposit plus that of the regular contributions, with interest compounded each period, in one closed-form formula.
Assumptions
- The rate is nominal and constant; compounding is monthly by default.
Limits
- No tax, no inflation, no rate change along the way.
For information only: not an approval, and not a rate offer.
How we calculate
The amount is split into equal parts placed at 1, 2, … n years. Each part grows at its rate, compounded annually; a weighted average yield follows.
Assumptions
- Rates by term are the ones you enter; maturities are not reinvested.
Limits
- Rates vary by institution and by day; tax is not considered.
For information only: not an approval, and not a rate offer.
How we calculate
Future value of the initial amount plus that of the monthly contributions, at the return divided by twelve. The result is also shown in today’s purchasing power by removing inflation.
Assumptions
- Constant return and inflation, contributions at month end.
Limits
- A real return varies and can be negative in some years; this is not a forecast.
For information only: not an approval, and not a rate offer.
How we calculate
The fee ratio is subtracted from the gross return, then growth is computed with and without fees. The difference is the cost of fees; it is also shown as the share of the gain absorbed.
Assumptions
- Constant gross return; fees come off every year as a lower net return.
Limits
- Trading and brokerage fees and tax are not included.
The account, the fees and the tax matter as much as the investment
| Item | What it changes | What to check |
|---|---|---|
| Account type | TFSA, RRSP, FHSA or non-registered: the tax on gains differs. | The account that fits your horizon. |
| Management fees | They are taken every year, whatever the return. | The fee ratio shown, in plain words. |
| Horizon | Money needed soon cannot bear the same swings as retirement money. | The date you will need it. |
| Exit conditions | Some investments lock the money or charge for a withdrawal. | What happens if you withdraw early. |
Reading to go further
// Investments
FHSA, HBP or TFSA: Which to Use for a First Home?
Three accounts, three logics: a deduction, a temporary RRSP withdrawal or flexible savings. How to compare them before buying.
// Investments
Top 10 Tools for Planning Your Savings (FHSA, RRSP, TFSA) in Quebec
Ten resources for understanding and planning registered savings in Quebec, ranked on five public criteria, including QuebecTaux.
// Investments
TFSA or RRSP: Choose by Goal and Tax Rate
Choose between TFSA and RRSP based on the goal, the withdrawal horizon and your current and future tax rates.
Every guide in this section
- FHSA: Plan Contributions Before a First Home Purchase
- Cashable or Non-Redeemable GIC: Choose Your Liquidity
- Build a GIC Ladder to Spread Maturities
- Mutual Funds and ETFs: Compare Fees, Advice and Diversification
- Management Expense Ratios: Measure the Long-Term Effect
- Risk Profile: Connect Possible Losses to the Time Horizon
- Rebalancing: Bring a Portfolio Back to Its Target
- Invest a Lump Sum or Invest Gradually
- RRSP Withdrawals: Withholding Tax and Taxable Income
- Retirement Drawdown: Coordinate TFSA, RRSP and Guaranteed Income
- RESP: Organize Contributions, Grants and Withdrawals
- Short-Term Savings: Avoid Risk That Conflicts With the Deadline
- Bonds and Interest Rates: Understand Price Changes
- Dividends or Total Return: Avoid an Incomplete Comparison
- Self-Directed or Advised Portfolio: Compare Service and Cost
- Investment Account Transfer Fees: What to Check Before Moving
- Beneficiaries and Estates: Keep Designations Current
- Asset Allocation or Product Selection: Decide in the Right Order
- Market Order or Limit Order
- Currency Conversion in a Brokerage Account
- Foreign Dividend Withholding Tax by Account Type
- Adjusted Cost Base: Keep Investment Records
- Realize a Tax Loss Without Undoing the Plan
- Return of Capital in a Fund: Effect on Tax Cost
- ETF Bid-Ask Spread: The Hidden Transaction Cost
- Bond Ladder or GIC Ladder
- Cash ETF: Yield, Liquidity and Deposit Protection
- RESP: Coordinate the Federal Grant and Quebec Incentive
- Family or Individual RESP: Compare Flexibility
- Convert an RRSP to a RRIF: Prepare Minimum Withdrawals
- Delay the QPP Pension: Future Income and Break-Even
- Life Annuity or Retirement Withdrawal Portfolio
- Commuted Value or Pension Income
- Employer Contribution: Capture the Match Without Blocking the Budget
- Employee Share Purchase Plan: Manage Concentration Risk
- ESG Funds: Verify Method, Exclusions and Fees
- Sequence-of-Returns Risk at the Start of Retirement
What people ask most
Put numbers on your decision
Open the calculatorsFor information only: not an approval, and not a rate offer.
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