Term deposits, also known as Guaranteed Investment Certificates (GICs), are safe investments that give you the flexibility to withdraw some or all of your money before the term ends. With cashable term deposits you can withdraw money before the term matures, but keep in mind you may receive a reduced rate of return.
Non-redeemable term deposits are the safest invesment option because they’re a guaranteed way to earn interest on your savings. Lock away your money to earn a higher rate of interest. Once the term matures, you’ll enjoy a bigger return on your investment.
Market-linked term deposits are a great option to diversify your portfolio. They offer higher growth potential since the rates of return are linked to the stock market. Performance of the S&P/TSX 60 Index*, which tracks Canada’s 60 foremost companies of the Toronto Stock Exchange across 10 industry sectors, determines how much interest you’ll earn.
|Eligible for annual product bundle payments|
|No-risk investment||Term deposits are no-risk investments, and your money is always guaranteed|
|No administration fees||No administration fees or commissions|
|Higher interest rates||Pays higher rates than regular chequing or savings accounts|
|100% deposit guarantee||Deposits are 100% insured by the Credit Union Deposit Insurance Corporation (CUDIC) of British Columbia|
Conditions apply. Rates are subject to change without notice.
*Minimum cumulative return of 1.5% for 3-year term and 2.5% for 5-year term.
Invest in your future with confidence. From short to long terms, cashable or non-redeemable options, term deposits are a secure way to save. The following registered retirement products can be invested in term deposits:
Term deposits are safe investment options and a guaranteed way to grow your savings. Choose a term deposit if you want to:
Savings accounts allow you to save and access your money anytime. Choose a savings account if you want to: