Shinhan Bank Canada Mortgage and GIC Rates Review

Looking for Shinhan Bank Canada mortgage or GIC rates? You’re in the right place.

Shinhan Bank Canada Mortgage Rates

Shinhan Bank Canada has separate rates for its commercial and residual mortgages.

For the commercial mortgage rates, you need to reach out to them. 

The following are Shinhan Bank Canada residential mortgage rates as of January 19, 2024:

TermTypeRate
1-year closedFixed 7.29%
2-year closedFixed6.84%
3-year closed Fixed6.54%
4-year closedFixed 6.49%
5-year closedFixed6.44%
5-year closedVariable Prime Rate-0.50%

SourceShinhan Bank Canada website 

Comparatively, the Shinhan Bank Canada mortgage rates are among the highest in Canada. 

Shinhan Bank Canada GIC Rates

The bank has various types of GIC rates and types. 

As of January 19, 2024, Shinhan Bank Canada has the following long-term GIC rates:

GIC TermNon-Registered GIC RateRegistered GIC Rate
1 year4.90%5.10%
2 years4.35%4.55%
3 years3.70%3.90%
4 years3.70%3.90%
5 years3.70%3.90%

SourceShinhan Bank Canada website 

The non-registered GIC rates are applicable on a minimum deposit of CAD 1,000.

That said, the 1 and 2-year GIC rates of Shinhan Bank are above average. The rest are among the lowest GIC rates out there.

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