Tangerine is Scotiabank's online subsidiary and offers GIC rates roughly 70–90 bps above its parent bank. Its strength is the bundle: clients with a Tangerine chequing or savings account can move money between products instantly with no fees.
| Term | Posted rate | $10,000 earns (term) |
|---|---|---|
| 1 Year | 3.15% | $315 |
| 2 Year | 3.35% | $681 |
| 3 Year | 3.45% | $1,071 |
| 5 Year | 3.65% | $1,963 |
Compound interest assumed annually. Always confirm posted rates directly with Tangerine.
Tangerine is the online-only subsidiary of Scotiabank, and the GIC pricing reflects that ownership: roughly 70–90 bps above Scotia's posted rates, but still trailing EQ Bank and Oaken by 15–35 bps depending on term. The trade-off is the bundle. If you already use Tangerine for chequing, savings, or the Tangerine credit card, moving money into a Tangerine GIC is a one-click operation with no transfer fees and no waiting period — your funds are locked into the GIC the same business day. Tangerine also runs frequent promotional HISA rates on new deposits that can outpace Tangerine's own 1-year GIC during the promo window — if you're disciplined about reinvesting at promo end, the HISA-then-GIC pattern often beats locking in a 1-year GIC immediately. Tangerine's GIC line-up is intentionally simple: Non-Redeemable GICs (1, 90 days, 180 days, 270 days, 1 year, 1.5 years, 2, 3, 4, and 5 years), Cashable GICs (90-day terms only), and registered versions inside TFSA, RRSP, and RRIF accounts (FHSA GICs are not currently offered — important gap if FHSA is your priority). Because Tangerine is a CDIC member under the same umbrella as Scotiabank, depositing at both Tangerine and Scotia does NOT double your CDIC coverage — they share a single $100,000 limit per insured category. For pure rate hunting, Tangerine sits in second tier: better than every Big Five, slightly behind EQ Bank and Oaken. The Tangerine bundle is what justifies the gap to EQ — if you're a single-product GIC buyer, EQ is the better pick.
If pure rate is your priority, two CDIC-insured issuers post higher 1-year non-cashable rates than Tangerine right now: EQ Bank at 3.30% (gap: +0.15%) and Oaken at 3.35% (gap: +0.20%). On a $25,000 5-year deposit, the difference vs. EQ Bank compounds to roughly $508 of extra interest.
Tangerine's 1-year rate is 0.20 percentage points below the highest in our comparison (Oaken at 3.35%). Over a 5-year term on $10,000, you'd earn roughly $1,963 in interest at Tangerine'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 Tangerine, a $25,000 ladder ($5,000 per rung) produces roughly $680 in annual interest once fully built (using current 1-, 2-, 3-, and 5-year rates as a proxy).
Hold Tangerine 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 3.15%, a 30% marginal rate costs roughly $95 per year in tax.
Rates as of 2026-04-21 · Non-registered, non-cashable terms · Confirm directly with Tangerine Bank.
Last reviewed: April 2026