Vancity GICs review
Best for: BC residents who want term deposits with higher registered rates, cashable and US dollar options, and full CUDIC protection.
Non-redeemable, annual interest. Registered rate applies in a TFSA, FHSA, RRSP or RRIF.
Non-redeemable. Registered rate applies in a TFSA, FHSA, RRSP or RRIF.
30-day lock-out; 2.35% in a TFSA, FHSA or RRSP. A 90-day lock-out version pays 2.35%.
$5,000 for short-term redeemable term deposits
Deposits 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia
The bottom line
Vancity listed 3.10% on a 1-year term deposit and 3.70% on a 5-year term, or 3.30% and 3.90% in registered plans, when we checked. Deposits are fully protected by CUDIC, and the range runs from cashable and short-term to escalating, index-linked and US dollar term deposits. The catches are BC-only membership, lower non-registered rates and a 13-month special with no set end date.
Pros & cons
Pros
- Registered term deposits earn more than non-registered ones
- Deposits 100% protected by CUDIC
- 1-year cashable term deposits with 30- or 90-day lock-outs
- $500 minimum for most term deposits
- Wide range, including escalating, index-linked and US dollar terms
Cons
- Only for BC residents who become members
- Non-registered rates are lower than registered ones
- 13-month special only in branch or by phone
- $5,000 minimum for short-term redeemable terms
A credit union lineup with an unusually wide product range, full provincial deposit protection and a rate bump for registered plans. It only works if you live in BC and join as a member.
Suits you if
- You live in BC and want full deposit protection.
- You’re putting the money in a TFSA, FHSA, RRSP or RRIF.
- You want a cashable or US dollar term deposit.
Look elsewhere if
- You live outside BC.
- You want to open everything online as a new member.
Credit Lab Expert
Our detailed review
Vancity term deposit rates by term
We checked Vancity’s term deposit and GIC rates on October 16, 2026, from its rates pages. Rates change often, so confirm them with Vancity before you buy. Vancity pays more inside registered plans: TFSA, FHSA, RRSP and RRIF term deposits earn about 0.20% more than non-registered ones. Non-redeemable rates, non-registered then registered:
- 1 year: 3.10% (registered 3.30%)
- 13 months, limited-time offer: 3.55% (registered 3.75%)
- 18 months: 3.35% (registered 3.55%)
- 2 years: 3.40% (registered 3.60%)
- 30 months: 3.50% (registered 3.70%)
- 3 years: 3.65% (registered 3.85%)
- 4 years: 3.60% (registered 3.80%)
- 5 years: 3.70% (registered 3.90%)
The 13-month special and cashable options
The 13-month non-redeemable offer pays interest annually and renews at the posted rate. It takes a $500 minimum, is available only in branch or by phone, and has a CAD 500 million aggregate cap. Vancity lists no end date and may withdraw it at any time.
For flexibility, Vancity has two 1-year cashable term deposits. The version with a 30-day lock-out pays 2.25%, or 2.35% in a TFSA, FHSA or RRSP. The 90-day lock-out version pays 2.35%. Short-term redeemable deposits of 30 to 364 days pay 1.90% to 2.55% with a $5,000 minimum. You can withdraw after 30 days at a reduced rate, which Vancity doesn’t quantify on its rates page, and you earn no interest if you withdraw within 29 days.
Other term deposits and how interest is paid
Vancity also offers escalating term deposits, index-linked term deposits, an RRSP and RRIF convertible term deposit, and US dollar short-term redeemable deposits from US$5,000 at 3.00% to 3.75%. A limited-time 4.25% applied to new 364-day US dollar deposits, but we didn’t review its terms.
Non-redeemable interest is calculated annually and paid at maturity by default. Annual, semi-annual, Monthly Income and Monthly Plus Income versions are offered; call or visit to change the payout frequency. Registered options also include RESPs and RDSPs.
Deposit insurance and safety
Vancity is a BC credit union, so its deposits are protected by the Credit Union Deposit Insurance Corporation of British Columbia rather than CDIC. CUDIC protects deposits 100%, with no dollar cap.
How to open a Vancity term deposit
You need to be a Vancity member, which requires BC residency, a SIN and $5 in membership shares. Members can open non-registered term deposits, or add one to an existing TFSA, RRSP, FHSA, RRIF or RDSP, in digital banking. New members, or anyone opening a new registered account, book a call or visit a branch. Most term deposits take a $500 minimum.
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
- BMO GICs1-year GIC: 3.00% posted
- 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
Why does Vancity pay more on registered term deposits?
Vancity sets separate rates for TFSA, FHSA, RRSP and RRIF term deposits, about 0.20% above non-registered rates. On a 5-year term, that was 3.90% registered against 3.70% non-registered when we checked on October 16, 2026.
What is the Vancity 13-month term deposit offer?
It’s a limited-time non-redeemable term deposit at 3.55%, or 3.75% in a TFSA, RRSP, RRIF or FHSA. It needs $500, pays interest annually and renews at the posted rate. Vancity hasn’t set an end date and may withdraw it at any time.
Can I open a Vancity GIC if I don’t live in BC?
No. Vancity term deposits are for members, and membership requires BC residency, a SIN and $5 in membership shares.
Are Vancity deposits covered by CDIC?
No. As a BC credit union, Vancity is covered by the Credit Union Deposit Insurance Corporation of British Columbia, which protects deposits 100% rather than up to a set amount.
What is a Vancity Short Term Redeemable term deposit?
It’s a term deposit of 30 to 364 days with a $5,000 minimum, listed at 1.90% to 2.55%. You can withdraw after 30 days at a reduced rate, but you earn no interest if you withdraw within 29 days of opening or renewal.
Does Vancity have US dollar term deposits?
Yes. Vancity offers US dollar short-term redeemable term deposits of 30 to 364 days from US$5,000, listed at 3.00% to 3.75%. A limited-time 4.25% was shown on new 364-day deposits; check its terms with Vancity.
Can I open a Vancity term deposit online?
Existing members can open a non-registered term deposit, or add one to an existing registered account, in digital banking. New members, new registered accounts and the 13-month offer go through a call or a branch visit.
Sources
Rates come from Vancity GICs’s own site, checked October 16, 2026. GIC rates change often and can differ for registered accounts or larger deposits, so confirm the rate before you buy. See our methodology.