SBI Bank Canada is an under-the-radar choice for USD GICs, often offering rates significantly higher than the major banks.
SBI Bank Canada is wholly owned by State Bank of India, one of the largest banks in India, and is a member of the CDIC. Remember, USD deposits are now covered by CDIC insurance.
SBI was not a bank initially on our radar – we only learned of its competitive USD GIC rates through reader feedback. If you notice a competitive financial product that you would like to bring to the attention of the Thrifty community, please let us know by sending us an e-mail at askmrthrifty.ca.
Looking to do business with a bank you are more familiar with? Tangerine often has very competitive rates on its USD GICs.
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