In this guide

  • Review
  • Frequently asked questions
  • Your reviews
Finder makes money from featured partners, but editorial opinions are our own.
Meridian GIC
Interest Rate
30 days - 5 years
All information about Meridian GIC has been collected independently by Finder. Finder is not connected with Meridian products, and this page is not sponsored, endorsed or administered by, or associated with, Meridian. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.


Invest with Meridian for competitive rates and flexible terms—but you'll need to be a member first.

You can lock your money away for as little as 30 days if you're only looking to make a short-term investment. If you want a higher return on investment, you should put your money in for up to five years.


  • Low minimum investment
  • Flexible terms
  • Redeemable & non-redeemable options
  • Easy to invest online


  • Meridian membership required
  • Only available in Ontario

In this guide

  • Review
  • Frequently asked questions
  • Your reviews

What is a Meridian GIC?

A Meridian Guaranteed Investment Certificate (GIC) is a low-risk investment that guarantees protection from loss. The main draw is that you get a fixed return on your investment without losing any of your principal. That’s why Meridian GICs can be a safe haven for conservative investors who don’t want to be exposed to the possibility of losing cash due to market fluctuations.

Meridian GIC rates are variable, fixed or incrementally escalating. Terms range from thirty days to six years, and you can choose between cashable, non-cashable, US dollar and market-linked GICs. Meridian also offers Raise the Rate GICs, which let you take advantage of interest rate increases before your term expires.

Let’s walk through how Meridian GICs work, including Meridian GIC rates and what you need to start investing.

Types of Meridian GICs

Meridian Credit Union, which only serves customers in Ontario, offers four types of GICs:


A Meridian redeemable GIC is a short-term investment that can be cashed in before the term is up, so you can get your initial investment back before the GIC expires. Interest starts accruing from the first day for one year, but you won’t earn anything if you redeem within the first 90 days.


Unlike redeemable GICs, Meridian non-redeemable GICs cannot be cashed in before the maturity date. You can’t withdraw funds until the GIC expires, which can be anywhere from one to five years. Typically, interest rates are higher for redeemable than non-redeemable GICs.


A Meridian Escalator GIC combines the flexibility of a redeemable investment with the higher returns of a non-redeemable investment. The interest rate increases each year of your three- or five-year term.

With a three-year Escalator GIC, you have the opportunity to fully or partially withdraw your investment annually. A five-year Escalator GIC comes with an annual opportunity to convert to a different long-term GIC if you choose.

Raise the Rate

Meridian’s unique Raise the Rate GIC lets you up your interest rate any time to match the best GIC rate Meridian offers. Just like other GICs, your principal investment is guaranteed, so you won’t lose any money, but your rate isn’t locked in. Choose between three- and five-year terms.

US Dollar

Worried the Canadian dollar will dip in value compared to US dollars? A Meridian US dollar GIC could be a good investment. Interest rates are competitive and both short- and long-term investments are available.

Market-linked investment

Want the security of guaranteed principal with the opportunity to earn more than you normally would with GICs? Consider getting a Meridian market-linked investment. Instead of predictable, modest-rate returns, you earnings are based on how a stock index or group of stocks perform. While the stock market could perform worse than you expect, you could also walk away with fairly sizeable returns.

Meridian GIC rates

Meridian GIC rates start at 2.25% with a 30-day non-redeemable term and reach as high as 4.75% with a 1-year non-redeemable term. Bear in mind that return for a market-linked GIC could be higher.

Short-term GIC interest rates

Short-term Meridian GICs expire between 30 days and one year. Here’s what you could earn with a non-redeemable GIC. Rates are lower for redeemable GICs, which you can cash in prior to the date of maturity.

TermGIC rate
90 daysUp to 2.75%
180 daysUp to 3.25%
270 daysUp to 3.5%

Rates last verified on July 5, 2024.

Long-term GIC interest rates

If you’re willing to lock in your cash for anywhere from one to five years, here’s what you could earn with the a non-redeemable Meridian GIC.

TermGIC rate
1 yearUp to 4.75%
2 yearUp to 4.45%
3 yearUp to 4.25%
4 yearUp to 4.25%
5 yearUp to 4.25%

Rates last verified on July 5, 2024.

Are there any Meridian GIC special offers?

Meridian will top off your GIC rate with an extra 0.1% if you set up a five-year laddered investment strategy. For this, divide your total investment by five, and get five separate GICs with different maturity dates (ending in one, two, three, four and five years). When each term matures, you can either reinvest your money or cash it in.

Doing this frees up a little of your money each year, making it easier to take advantage of other investment opportunities than if your funds are entirely locked in to a five-year term.

Why should I invest in a Meridian GIC?

  • Low risk, guaranteed return. You’ll never lose money with a BMO GIC, because your principal investment is guaranteed. Many GICs also offer predictable, fixed-rate returns.
  • Variety of terms. Lock your money away for as little as 30 days if you’re only looking to make a short-term investment or up to five years if you want a higher return.
  • Low minimum investment. You can start investing in Meridian GICs with as little as $100. This is lower than many other banks, which ask for a minimum investment of $500 or more.
  • Bonus for laddered GICs. Meridian will pay 0.1% higher interest if you follow a laddered investment strategy, which involves buying five GICs with different maturity dates.
  • Deposits are insured. Any money you put into your GIC (up to $250,000) is insured through the Financial Services Regulatory Authority (FSRA) of Ontario in the unlikely event Meridian fails.
  • Easy access to customer service. Meridian provides customer service through many different channels. You can manage your investments over the phone, online and in-person.

What should I look out for?

  • Meridian membership required (Ontario only). You must be a Meridian member to invest, and the credit union only operates in Ontario.
  • Might not beat inflation. The Bank of Canada aims to keep inflation between 1% and 3%, and some Meridian GICs might not keep pace with this.
  • Earnings may be taxable. GICs held in accounts that aren’t tax sheltered are subject to taxation.

How to get a Meridian GIC

Ready to invest in Meridian GICs? Get started by logging into your online banking account, phoning a customer service representative or visiting a branch in person.

Eligibility requirements

  • Be a Canadian resident who’s at least the age of majority in your province or territory (18 or 19)
  • Be a Meridian credit union member with an account
  • Have at least $100 to invest


  • Your name, residential status and contact information
  • Your Social Insurance Number (SIN) and date of birth
  • Your email address and phone number

How do Meridan GICs compare to GICs from other banks?

Meridian GIC rates are competitive with other major Canadian financial institutions, including Big Banks like BMO, TD and RBC. In fact, some Meridian GIC offers are even higher. However, banks that operate entirely online may offer higher rates, and you don’t need to be a member (and pay a membership fee) to start investing.

If you live in Ontario and prefer banking with an established credit union that offers online and in-person service, Meridian might be right for you.

Frequently asked questions

Your reviews

No reviews yet. Write a review
Go to site