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HISA and GIC assumptions
Enter the rate offered to you rather than relying on a market average. HISA rates can change; a GIC rate and access rules normally apply for a stated term.
🇨🇦 Canada Interest Calculator
Model simple or compound growth in CAD using your own HISA or GIC rate assumption.
Final amount
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Simple interest—
Simple Final amount—
Compound interest—
Total contributions—
Estimated after-tax interest—
Estimated real purchasing power—
This calculator uses your assumptions, not current product rates. Tax and deposit coverage depend on the account and institution. Bank of Canada · CDIC HISA · CRA interest income
Learn more
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Worked CAD example
CAD $10,000 at an entered 4% nominal rate, compounded monthly for 5 years with CAD $100 added at each month-end, grows to about CAD $18,800 before tax. Change frequency, tax and inflation to test the assumptions relevant to you.
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Tax and deposit protection
Interest in a non-registered account is generally reported as income. CDIC coverage depends on eligible deposits, membership and insured category; confirm the exact product before depositing.
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Method and limits
Monthly contributions are added at month-end. Tax is applied only as a simplified percentage of calculated interest, and real value discounts the estimated after-tax balance by your constant inflation assumption. Fees, changing rates and withdrawals are excluded.
Frequently asked questions
Does this fetch today’s HISA or GIC rates?
No. Enter the rate published for the product you are evaluating.
Is the tax result a tax return estimate?
No. It is a simplified marginal-rate assumption and does not model registered accounts or individual credits.
Methodology and official sources
the Canadian interest calculation explains its inputs, assumptions, and calculation scope.
Method
It applies simple or compound interest from the entered principal, rate, and time to the entered values.
Worked example
CAD 1,000 at 5% for one year gives CAD 50 simple interest.
Limitations
- Rates, rules, and individual circumstances can change the result.
Sources
- Investment Calculator Bank of Canada · Official source
- High Interest Savings Account (HISA) Canada Deposit Insurance Corporation · Official source
- Interest and other investment income Canada Revenue Agency · Official source