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Home Trust GIC Rates in Canada 2023: Are They Worth It?

Are you looking for the best GIC rates in Canada? This article helps you determine whether Home Trust GIC rates are worth it.

Hope Trust is a popular independent trust company that has been in existence for over 4 decades. 

The company serves both individuals and corporate institutions with banking, investing, credit, and mortgage solutions.

Home Trust has distinguished itself on several grounds from the competition making it one of the largest independent trusts in Canada.

Before investing with Home Trust GIC, it’s critical to know its interest rates and how they compare with the interest of other GIC providers. That’s exactly what this article helps you achieve.

Without further ado, let’s get started!

Personal Finance
Personal Finance

Home Trust GIC Rates 2023

Home Trust offers a wide range of GIC rates that cut across annual, semi-annual, and monthly rates.  

You can invest in registered and non-registered GIC accounts with Home Trust. The GIC terms range from 30-364 days for short terms and 1 year to 5 years for long terms. All these are non-redeemable. 

In addition, it offers a 1-year cashable GIC that’s redeemable after 30 or 90 days of investing. 

With this, we can categorize Home Trust GICs into redeemable and non-redeemable GICs

That being said, the following is a comprehensive breakdown of rates that came into effect on April 25, 2023.

Home Trust Non-Registered GIC Rates

Below are the current non-registered or taxable GIC rates: 

TermAnnual Pay or Annual Compound RateSemi-Annual Rate Monthly Rate 
1 year 4.75%4.7%4.65%
18 months4.7%4.65%4.6%
2 years4.58%4.53%4.48%
3 years4.55%4.5%4.45%
4 years4.25%4.2%4.15%
5 years4.21%4.16%4.11%

Note that all the GIC terms require a $1,000 minimum deposit, which is the same with several GIC providers.


The following are the current Home Trust Retirement Savings Plan (RSP) GIC rates:

TermAnnual Compound Rate
1 year 4.75%
18 months4.7%
2 years4.58%
3 years4.55%
4 years4.25%
5 years4.21%

Note that the Home Trust RSP GIC rates have only annual compound rates. However, the minimum deposit remains $1,000.

Home Trust TFSA GIC Rates

If you’re looking to invest in Tax-Free Savings Account (TFSA) GIC account, the following are the current rates of the account: 

TermAnnual Pay or Annual Compound Rate
1 year 4.75%
18 months4.7%
2 years4.58%
3 years4.55%
4 years4.25%
5 years4.21%

As with the above accounts, the Home Trust TFSA GIC account also requires a $1,000 minimum investment. 

Home Trust RIF GIC Rates 

A day before you clock 72, you’re expected to convert your RRSP account to a Retirement Income Fund (RIF). The following are the current GIC rates for RIF: 

TermAnnual Compound Rate
1 year 4.75%
2 years4.58%
3 years4.55%
4 years4.25%
5 years4.21%

The Home Trust RIF GIC account doesn’t have an 18-month term, unlike the RRSP and TFSA accounts. The account also has a higher minimum investment requirement of $10,000. 

Note: From the above review of Home Trust’s long-term GIC rates, we can see that the rates are the same on 1-5-year terms. 

Short-Term Deposit GIC Rates

As noted earlier, Home Trust also offers short-term GIC rates with 30-364 terms. Although the RSP GIC term starts from 90 days (not 30).

That being said, the following are the current GIC rates on short-term deposit accounts.

TermRate Paid at Maturity
30-59 Days4.25%
60-89 Days4.25%
90-119 Days4.25%
120-179 Days4.25%
180-269 Days4.3%
270-364 Days4.5%

Note that the Home Trust short-term GICs require a minimum deposit of $1,000.

In addition, Home Trust short-term GICs are available only on RSP and non-registered accounts.

1-Year Cashable GIC Rates

If you’re looking to invest in a redeemable GIC account, you are covered with a 1-year cashable GIC. Below are the current rates of this account.

Withdrawal PeriodRate 
After 30 Days4.05%
After 90 Days4.15%

This account also requires a minimum deposit of $1,000. Also, you can only invest in this GIC through a non-registered account.

Note: As with the rates of other GIC providers, Home Trust GIC rates are subject to change without notice. You should always visit the Home Trust GIC rates page to get the updated rates.

About Home Trust GICs

From the above review, you can see that Home Trust offers access to different GIC terms, rates, and accounts. 

This makes the company more accessible to investors with different needs than other GIC providers.

Security-wise, you don’t have to bother with anything as deposits and interest earned in Home Trust accounts are insured up to $100,000 by the Canada Deposit Insurance Corporation (CDIC).

Compared to other brick-and-mortar GIC providers, Home Trust has competitive rates. But you can get better rates from some of the best online banks out there.

The bottom line is, you can’t go wrong if you’re looking to invest through a brick-and-mortar institution rather than an online bank.

But if you prioritize high-interest rates above anything, jump to the comparison section to know about some of the providers of the high GIC rates at the moment.

How to Buy

Home Trust is a brick-and-mortar financial institution without online banking access. As such, you can only invest in its GIC by visiting any of its offices at: 

LocationAddressContact Information
Vancouver200 Granville St.Suite 1288Vancouver, BCV6C 1S4Toll-Free Telephone: 1-866-235-3080Toll-Free Fax: 1-866-564-3524Email: [email protected]
Toronto145 King Street West, Suite 2300Toronto, OntarioM5H 1J8 Click for parking directions Click for public transitToll-Free Telephone: 1-877-903-2133Toll-Free Fax: 1-888-470-2092Email: [email protected]
Calgary517 – 10th Avenue S.W.,Mailbox #14Calgary, ABT2R 0A8Toll-Free Telephone: 1-866-235-3081Fax: 403-244-6542Email: [email protected]
Montréal2020 Boulevard Robert-BourassaSuite 2420Montreal, QCH3A 2A5
Toll Free Telephone: 1-866-542-0129Toll Free Fax: 1-866-620-7620

If you want to make an inquiry before applying, you can call 1-877-903-2133 or 416-775-5000 on the phone. You can also contact them by fax at 1-888-470-2092 or 416-363-7611.

However, if you want to invest online, you can visit the Home Trust digital subsidiary known as Oaken Financial.  

How Home Trust GIC Rates compare 

As a brick-and-mortar company, Home Trust GIC rates are not among the lowest or highest. 

The following table shows how Home Trust GIC rates compare with the rates of other financial institutions starting from a 5-year to a 1-year term.

Financial Institution 5 years4 years3 years2 years1 year
Motive Financial4.72%4.72%4.75%4.85%5.12%
Wealth One Bank of Canada4.70%4.80%4.80%5.05%5.15%
Hubert Financial4.60%4.65%4.65%4.75%4.70%
Ideal Savings4.60%4.65%4.65%4.75%4.65%
AcceleRate Financial4.60%4.65%4.65%4.75%4.70%
Achieva Financial4.60%4.60%4.65%4.75%
Outlook Financial4.60%4.60%4.65%4.75%4.75%
MAXA Financial4.60%4.60%4.60%4.70%4.65%
Saven Financial4.55%4.65%4.65%4.90%5.15%
Meridian Credit Union4.50%4.50%4.50%4.60%4.65%
Peoples Trust4.50%4.65%4.85%5.00%5.00%
LBC Digital4.50%4.30%4.30%4.70%5.00%
Alterna Bank4.50%4.50%4.50%4.60%4.75%
Canadian Tire Bank4.48%4.40%4.53%4.53%4.53%
ICICI Bank4.40%4.40%4.40%4.70%4.70%
Home Trust 4.21%4.25%4.55%4.58%4.75%
EQ Bank4.20%4.25%4.55%4.55%5.00%
Oaken Financial4.15%4.25%4.30%4.70%5.05%
Tangerine Bank4.05%4.15%4.20%4.30%4.65%

Rates are valid as of April 27, 2023

Based on a 5-year GIC rate, you can see that Home Trust only outshines EQ Bank, Oaken Financial, and Tangerine. 

The interesting thing here is that Home Trust GIC rates compete significantly with the rates of its online arm (Oaken Financial) which is supposed to offer higher rates due to its low operational cost.

However, the overall comparison underlines the fact that Home Trust doesn’t provide the lowest nor the highest GIC rates.  

Some FAQs on Home Trust GICs

Is Home Trust Company GIC safe?

Home Trust’s GIC is safe because deposits and interest on the account are insured up to $100,000 by the Canada Deposit Insurance Corporation (CDIC). Home Trust is also a reputable company that has been in existence since 1977. 

Is Home Trust CDIC insured?

Yes. Home Trust is a member of the CDIC. As such, deposits and interest held by it are insured by the CDIC up to $100,000 per category.

Is Home Trust a good company?

With a 2.1/5 stars rating on Trust Pilot and a 2.6/5 stars rating on InsurEye, it’s safe to say that Home Trust needs to improve its offerings and customer service.

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About John Adebisi

John Adebisi is a CPA, FCCA and MBA holder with a Bachelor's degree in Accounting & Finance. He has over a decade of experience in writing personal and business finance content for audiences across North America, Europe, the UK and Africa. In addition to his writing experience, he also has a strong background in financial research and analysis, giving him a unique perspective of the financial markets. John derives pleasure in helping people make smart financial decisions, and he believes that knowledge and experience can be valuable resources for anyone who wants to learn how to manage their money.

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