BMO's GIC line-up is the most conservative of the Big Five — both in rate and product range. The upside is a strong RRSP/TFSA GIC pipeline through BMO InvestorLine, making it convenient for clients consolidating registered accounts at BMO.
| Term | Posted rate | $10,000 earns (term) |
|---|---|---|
| 1 Year | 2.45% | $245 |
| 2 Year | 2.75% | $558 |
| 3 Year | 2.85% | $880 |
| 5 Year | 3.10% | $1,649 |
Compound interest assumed annually. Always confirm posted rates directly with BMO.
BMO's posted rates sit mid-pack among the Big Five — its 1-year matches RBC and CIBC, while its 2- and 3-year terms currently lead RBC, CIBC, and Scotiabank. The pricing strategy assumes you're consolidating registered accounts (RRSP, TFSA, FHSA, RRIF) at BMO InvestorLine and value the integration over yield. The line-up centres on three products: the standard Non-Redeemable GIC (best rate, locked term), the RateRiser Plus GIC (step-up rates that bump in years 2–5 — useful if you believe rates will fall but want predictable upside), and the Cashable GIC (30-day lock then full access at a fixed lower rate). BMO's RateRiser deserves a closer look: unlike CIBC's Escalating Rate GIC, the BMO version's blended yield is genuinely competitive when you compare it against locking in at today's 3-year rate and missing potential bumps. BMO Premium banking customers get access to additional special-offer GICs at 25–50 bps above standard — confirm eligibility before assuming you qualify. BMO InvestorLine accepts third-party GICs from Equitable Bank, Home Trust, B2B Bank, and Manulife Bank at the issuer's posted rate, which is the standard workaround for BMO clients who want EQ-tier yield without leaving the BMO ecosystem. For pure rate shopping, you're paying about $85 per $10,000 per year vs. EQ Bank on a 1-year term for the BMO convenience — over a 5-year hold, that's roughly $450 of foregone interest. If you're not consolidating at BMO InvestorLine, the math doesn't really support BMO over Scotia, CIBC, or — especially — EQ Bank or Oaken.
If pure rate is your priority, two CDIC-insured issuers post higher 1-year non-cashable rates than BMO right now: EQ Bank at 3.30% (gap: +0.85%) and Oaken at 3.35% (gap: +0.90%). On a $25,000 5-year deposit, the difference vs. EQ Bank compounds to roughly $1,294 of extra interest.
BMO's 1-year rate is 0.90 percentage points below the highest in our comparison (Oaken at 3.35%). Over a 5-year term on $10,000, you'd earn roughly $1,649 in interest at BMO's posted rate. Use the full GIC rate comparison to see all 11 institutions side by side, or the compound interest calculator to model larger deposits.
The standard play is a GIC ladder: split your deposit across 1-, 2-, 3-, 4-, and 5-year terms so one matures every year. With BMO, a $25,000 ladder ($5,000 per rung) produces roughly $558 in annual interest once fully built (using current 1-, 2-, 3-, and 5-year rates as a proxy).
Hold BMO GICs inside a TFSA or RRSP whenever possible — GIC interest is taxed at your full marginal rate, making non-registered GICs one of the least tax-efficient holdings. On a $10,000 GIC at 2.45%, a 30% marginal rate costs roughly $74 per year in tax.
Rates as of 2026-04-21 · Non-registered, non-cashable terms · Confirm directly with BMO Bank of Montreal.
Last reviewed: April 2026