BMO GICs review
Best for: Savers who want a big-bank GIC with terms up to 10 years and the same rate across registered plans.
Annual or compound interest; no special rate was shown on BMO’s rates page
3.45% if interest is paid monthly or semi-annually
Redeemable Short Term Investment Certificate; no interest if redeemed within 30 days
$5,000 for monthly interest or non-registered short terms
Up to applicable limits, per BMO
The bottom line
BMO’s standard GIC pays 3.00% for 1 year, 3.55% for 5 years and 3.75% for 10 years, with the same rate in an RRSP, RRIF, RESP, RDSP or TFSA. No special rate was on its rates page when we checked. Cashable options pay less, and BMO adds escalating RateRiser GICs, laddered RateOptimizer GICs, market-linked Progressive GICs and U.S. dollar deposits.
Pros & cons
Pros
- Terms from 30 days to 10 years
- Same rate across RRSP, RRIF, RESP, RDSP and TFSA
- Escalating RateRiser GICs, cashable and non-cashable
- Interest calculated daily
Cons
- $1,000 minimum, higher than some big banks
- Monthly or semi-annual interest pays 0.10% less
- Online purchase needs a BMO investment account
- No special rates shown when we checked
A steady choice if you want long terms or registered-plan GICs at one consistent rate. Compare the RateRiser Max if you can commit for 3 or 5 years without access.
Suits you if
- You want a term longer than 5 years.
- You hold GICs in an RDSP or RESP.
- You like a rate that rises each year.
Look elsewhere if
- You have less than $1,000 to invest.
- You want monthly interest at the full rate.
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Our detailed review
BMO GIC rates by term
We read these rates from BMO’s website in a browser session, last checked October 15, 2026. BMO doesn’t print an effective date for its fixed GIC rates, and GIC rates change often, so confirm with BMO before you buy.
The standard BMO Guaranteed Investment Certificate pays the rates below when interest is paid annually or compounded annually. Monthly or semi-annual interest pays 0.10% less. The special offers section on BMO’s rates page was empty when we checked, so these are posted rates.
- 1 year: 3.00%
- 2 years: 3.20%
- 3 years: 3.30%
- 4 years: 3.35%
- 5 years: 3.55%
- 6 years: 3.65%; 7 years: 3.70%; 10 years: 3.75%
- Short Term Investment Certificates (30 to 359 days): 1.75% to 2.05%
Cashable and escalating BMO GICs
BMO has several ways to keep access to your money. The Redeemable Short Term Investment Certificate pays 1.50% for 364 days and can be redeemed at any time, but pays no interest if you redeem within 30 days. The BMO Variable Rate GIC is linked to BMO prime and pays 1.75%. BMO Term Deposit Receipts pay 2.20% for 1 year up to 2.65% for 5 years and can be redeemed any time at reduced interest.
The RateRiser family raises your rate each year. The non-cashable RateRiser Max works out to a 3.30% compound equivalent over 3 years and 3.55% over 5 years. The RateRiser Plus can be redeemed in full on each anniversary, and the Cashable RateRiser GIC can be redeemed at any time. BMO also sells RateOptimizer ladders, market-linked Progressive GICs, and U.S. dollar deposits paying up to 4.10% for 5 years.
Registered plans and how interest is paid
BMO GICs can be held in a TFSA, RRSP, FHSA, RRIF, RESP or RDSP. BMO’s rate tables show the same rate in RRSP, RRIF, RESP, RDSP and TFSA accounts as in non-registered ones. BMO doesn’t state a registered-plan minimum below $1,000.
Interest is calculated daily. Non-registered GICs pay monthly (with a $5,000 minimum), semi-annually, annually, or compound annually and pay at maturity. RSP, TFSA, FHSA and RESP GICs pay annually to a savings account or compound, and RIF GICs compound annually.
Deposit insurance and how to buy
BMO says its GICs are eligible for CDIC deposit insurance up to the applicable limits.
If you have a BMO investment account, you can buy by signing in online. Otherwise, book an appointment at a branch, schedule a call, or phone 1-877-225-5266. BMO’s pages don’t say whether you can buy in its mobile app.
Other gics we review
- Saven Financial GICs1-year GIC: 3.80%
- Oaken Financial GICs1-year GIC: 3.75%
- EQ Bank GICs1-year GIC: 3.70%
- Tangerine GICs1-year GIC: 3.60%
- Desjardins GICs1-year GIC: 3.40% online
- Manulife Bank GICs1-year GIC: 3.35%
- Meridian GICs1-year GIC: 3.30%
- National Bank GICs1-year GIC: 3.30% posted
- Vancity GICs1-year GIC: 3.10% (3.30% registered)
- CIBC GICs1-year GIC: 3.00% promo
- RBC GICs1-year GIC: 3.00% special
- TD GICs1-year GIC: 3.00% posted
- Simplii Financial GICs1-year GIC: 2.90% APY
- Alterna Bank GICs1-year GIC: 2.65%
- Scotiabank GICs1-year GIC: 2.45% posted
Frequently Asked Questions
What is BMO’s 1-year GIC rate?
BMO lists 3.00% on its 1-year GIC when interest is paid annually or compounded. Monthly or semi-annual interest pays 2.90%. No special 1-year rate was shown on BMO’s rates page when we checked.
Does BMO have a cashable GIC?
Yes. The Redeemable Short Term Investment Certificate pays 1.50% for 364 days and can be redeemed at any time, though you earn no interest in the first 30 days. BMO Term Deposit Receipts and the Cashable RateRiser GIC can also be redeemed early.
What is the BMO RateRiser GIC?
It’s an escalating GIC whose rate rises each year. The non-cashable RateRiser Max has a 3.30% compound equivalent over 3 years and 3.55% over 5 years, and the RateRiser Plus can be redeemed on each anniversary.
What is BMO’s 10-year GIC rate?
BMO lists 3.75% on a 10-year GIC with annual or compound interest, or 3.65% with monthly or semi-annual interest. Its terms run from 30 days to 10 years.
What is the minimum for a BMO GIC?
BMO’s minimum is $1,000. You need $5,000 for monthly interest or for non-registered short-term certificates.
Can I buy a BMO GIC online?
Yes, if you have a BMO investment account you can sign in and buy online. Without one, you can book a branch appointment, schedule a call or phone BMO.
Sources
Rates come from BMO GICs’s own site, checked October 15, 2026. GIC rates change often and can differ for registered accounts or larger deposits, so confirm the rate before you buy. See our methodology.