Some institutions advertise high rates in year 4 or 5, but be cautious, they have much lower rates for the early years.

The real rate over 5 years may be less than a 5 year fixed rate GIC

For example, a GIC that pays 2% in year 1, 2.5%in year 2, 3% in year 3, 3.5% in year 4 and 8% in year 5. You tend to focus on the 8%. However if you calculate the average annualized yield you realize this GIC Pays 3.8% over the 5-year period.

You probably could have found a better return from a conventional GIC over the 5-year term.

Marketing can sometimes be misleading. They could still suit your purpose, just be careful to calculate the yield over the term of the GIC, so you can comparison shop effectively.