Customer Advisory Text

Term Deposits

Our investment specialists are ready to work with you to make sure you get the most out of your money. We’ll help you balance the needs of today with your goals for the future, so you can rest easy and enjoy life, assured that you are prepared for the future.

Rates

Term Deposits

Term Deposits (also known as GICs) guarantee you receive a set, compounded interest rate over a fixed period of time. This investment is secure and can have a length as little as 30 days and as much as 5 years, with interest rates varying based on the length of the term. Terms can be either Redeemable or Non-Redeemable.

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Index-Linked Term Deposits

A potential higher return, Indexed Linked Term Deposits guarantee your principal investment, while maintaining the potential for excellent returns.

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Tax Free Savings Account

Flexible, secure, and best of all, tax-free, TFSAs allow you to grow your investments without paying taxes on the gains. TFSA is flexible, tax-free investing, and any Canadian over the age of 18 can invest. Withdraw or contribute at any time, and any unused contributions can be carried forward to future years. Plus, the amount withdrawn can be put back in your TFSA the following year without reducing your contribution room.

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Savings Madness Term Deposit

An exclusive savings plan with a high interest rate to help you save with a goal in mind (down payment,special purchase, vacation etc) within a goal ime frame. Our Savings Madness term deposit has a rate of 5.00% compounding* on each payment into the Savings Madness Term.

*This compound interest works out to be about 2.5% on the investment total at the end of the Savings Madness Term.

Make that dream a goal! Set your savings goal for to be achieved in a specified time frame and we'll break down the total you need into payments over that time period! We'll set up an automatic transfer from your account into the term on a schedule that works with you!

For example, John needs to save for 5% down payment on a home. He needs $10,000 over the course of two years to make his down payment.

He wishes to make payments bi-weekly, on the same day he gets paid from his employer. So over 2 years, 52 weeks of payments (bi-weekly), he needs to make a deposit into his term of $193.00 every two weeks to save $10,000 for his down-payment.

In a compounding interest term, John could expect a return of about 2.5% on his $10,000 by the end of the term. He was able to save easily with automatic payments into his Savings Madness, and now he has an extra $250 on top of his down payment goal!

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