Deposit Interest Rate in Canada remained unchanged at 4.98 percent on Wednesday January 3. Deposit Interest Rate in Canada averaged 5.63 percent from 1975 until 2024, reaching an all time high of 22.06 percent in August of 1981 and a record low of -0.10 percent in October of 2020. source: Bank of Canada
See Also
Which GIC should I choose?Best Short-Term GIC Rates in Canada for December 2023 - NerdWalletAre bonds or GICs the better investment choice for your portfolio? | Manulife Investment ManagementRob Carrick: The 5-per-cent GIC is fading into the sunset - with one exception - Registered Deposit Brokers AssociationDeposit Interest Rate in Canada is expected to be 4.98 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Deposit Interest Rate in Canada is projected to trend around 3.48 percent in 2025, according to our econometric models.
Deposit Interest Rate in Canada
The Deposit Interest Rate is the average rate paid by commercial banks to individuals or corporations on deposits.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 4.98 | 4.98 | 22.06 | -0.10 | 1975 - 2024 | percent | daily |
