Rates

Today's Best GIC Rate

3.45%

Today's Best GIC Rates

December 18, 2018

1 Year Fixed

2.85%

2 Year Fixed

3.16%

3 Year Fixed

3.26%

4 Year Fixed

3.36%

5 Year Fixed

3.45%

90 Day Cashable

1.61%

Daily Cashable

1.60%

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Our Purpose

Our job is simple: We find you the best GIC rate in Canada, help you manage your portfolio, and answer any financial questions you may have.

  • Investors looking for high GIC rates should only buy GICs through deposit brokers like Paragon Financial, to ensure they are getting the best rates.
  • Paragon has dozens of contracts with GIC companies across the country so we can provide the highest rates in Canada.
  • Paragon offers high-rate GICs for FREE, and all our of GIC companies are insured by CDIC, CUDIC or Assuris, depending on registration.

Non-Registered Annual Rates for December 19, 2018

* Average rates as found on the major banks's public websites

Non-Registered Corporate Rates for December 19, 2018

* Average rates as found on the major banks's public websites

RRSP/RRIF/TFSA Rates for December 19, 2018

* Average rates as found on the major banks's public websites

Rate Overview Table

Non-Registered
Annual
Non-Registered
Corporate
RRSP/RRIF/TFSA
1 Year Fixed2.85%2.85%2.85%
2 Year Fixed3.16%3.05%3.16%
3 Year Fixed3.26%3.15%3.26%
4 Year Fixed3.36%3.15%3.31%
5 Year Fixed3.45%3.25%3.42%
90 Day Cashable1.61%1.40%1.40%
Daily Cashable1.60%0.90%N/A

Benefits of Using a Deposit Broker

We provide excellent service, rate holds, no cost GICs and easy-to-read statements.

deposit broker’s first and foremost role is to find you the best GIC rate in Canada. But there is so much more that we offer on top of the best GIC rates. Here is a list of other services that we offer to our customers for free:

Guarantees and Safety

Your principal is guaranteed, your interest is guaranteed and you have our guarantee that your deposit will carry insurance protected by CDIC, CUDIC or Assuris.

All GICs and term deposits we offer our customers come with a guarantee of principal and interest rate. For instance, if you were to purchase a 2 year GIC with a quoted rate of 4%, you get 4% interest for each of the 2 years, even if GIC rates drop during the term. On top of this, your principal and the GIC company we place your GIC with are guaranteed through CDICCUDIC or Assuris, depending on the institution. This means you can sleep at night knowing that your GICs and term deposits at Paragon are safe, regardless of market conditions.

Our Excellent Service

When you purchase a GIC through Paragon, you can be assured that we are also watching your portfolio, so you can do what you enjoy most. After you purchase your GIC, we do three things for you: we double check and send the formal confirmation to you, we proactively contact you prior to each GIC maturity for renewal instructions, and we offer recommendations to help you decide which strategy is best for you. We feel that it is not good enough to just offer the best GIC rates, but to also give you the service you expect from one of the leading deposit brokers in Canada.

Rate Holds

Sometimes rates drop before we receive your cheque to purchase a GIC. To protect you against falling rates, we immediately apply for a rate hold with the institution that is offering the best rate (assuming a rate hold is available). This means that the GIC rate quoted will be available to you, even if rates fall between the time we discussed the best rates and when we receive your cheque. There is a time limit for rate holds:  for non-registered accounts it is 14-15 days (depending on the institution), and for RRSPs, RRIFs and TFSAs the rate hold limit is 60 days.

No Cost GICs

Investing is becoming more and more expensive in Canada, and these costs eat into your ability to grow your portfolio. It is refreshing to know that you can still use a deposit broker to get the best rates for free. This is possible because we get a referral fee from the GIC company that is offering the best rate. The GIC company pays us, not you, meaning you invest the full amount of your deposit, allowing you to earn the maximum interest possible*.

Easy to Read Statements

Paragon Financial uses the most up-to-date technology to produce your statements and reports. It is important to us that you receive portfolio summaries that are easy to read and understand. Every time you purchase a new GIC or make a change to a maturing GIC, you get a new summary of your GICs with Paragon.

*Please note: Credit Unions can charge membership fees for new accounts. These fees vary between $5 and $25. When you move your business away from a credit union that charges membership fees, they return this fee to you by adding it to your final maturity cheque.



Our Valued Partners Include:

"VersaBank"BridgeWater Bank"ivari"Desjardins"Manulife Bank"Wawanesa Insurance"SSQ Insurance"First West"B2B Trust"Canada Life"Canadian Western Bank"Coast Capital Savings"Empire Life"Equitable Life"Home Trust"Industrial Alliance"Laurentian Bank"Manulife Financial"BlueShore Credit Union"Peoples Trust"Prospera Credit Union"Sun Life Financial

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