Canada GIC Interest Rates & Return Payout Schedule (2026 Update)

Maximizing Your GIC Payouts in Canada

As an international student, depositing C$20,635 into a GIC is mandatory, but how does this money get returned to you?

The Payout Structure

When you arrive in Canada and activate your account:

1. Initial Payout: You will receive a lump sum of approximately C$4,127 (20% of GIC) to help you pay for rent deposits, setup, winter clothing, and books.

2. Monthly Installments: The remaining C$16,508 is paid back to you in 12 equal monthly installments of roughly C$1,375 (plus interest).

Interest Rates

Canadian banks pay interest on the GIC balance. Interest rates typically range from 3.5% to 5.0% per annum.