GIC calculator 2026 — Canada: interest and the $100,000 CDIC coverage

The Canada Deposit Insurance Corporation (CDIC) covers eligible deposits up to $100,000, principal and interest, in each eligible category at each member institution; each category is insured separately.

Example for the default values — change any field and the result updates.

Final amount11,047 CAD
Interest earned1,047 CAD
Covered by the deposit guarantee11,047 CAD
Not covered (above the limit)0 CAD

The result is an estimate, not financial or legal advice. Check the exact terms with the company.

Verified companies: Banks · Canada

  1. 1CIBC96/100
  2. 2Desjardins96/100
  3. 3Scotiabank93/100
  4. 4EQ Bank91/100
  5. 5TD Canada Trust89/100

See the full ranking

How it is calculated

Interest is calculated monthly at the annual rate ÷ 12. With monthly capitalization it is added to the balance and earns interest itself: final amount = amount × (1 + r)^n, where r is the monthly rate and n the number of months. Without capitalization interest is charged on the principal only and paid out: interest = amount × r × n.

A top-up is added at the end of every month except the last and earns interest from the next month. Interest earned = final amount − the deposit − all top-ups.

The insured amount is the part of the final amount (principal plus interest) within the guarantee limit per depositor and bank; the rest is uninsured. The limit applies to all your accounts in one bank together, so add up your other balances there. Taxes on interest and the bank's own day-count rules are not included.

Frequently asked questions

How much does the CDIC cover?

Up to $100,000 per eligible category per member institution, including principal and interest.

Sources