Rates
The following are the most current loan rates available. Rate information is updated frequently. Interest rates published here are considered to be our base rates. All published rates are subject to change without notice.
Foreign Exchange Rates
Please call (345.8153 / 345.7612) or visit us in branch for current rates.
Loan Rates
Rates starting as low as BAY Credit Union’s Prime Rate*OAC
Contact us for more information!
Algoma Branch 345.7612 or Cumberland Branch 345.8153
Mortgages*
| 1 Year Open | 8.25% | ||||||
| 1 Year Closed | 6.89% | ||||||
| 2 Year Closed | 6.58% | ||||||
| 3 Year Closed | 5.99% | ||||||
| 4 Year Closed | 5.99% | ||||||
| 5 Year Closed | 5.95% | ||||||
| 7 Year Closed | 7.29% | ||||||
| Variable | Please contact | ||||||
*Mortgage Specials
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*Rates subject to change without notice.
*OAC – Mortgage Specials are for new purchases or switches only.
Prime Rate - 5.95%
Rates effective 07/11/2024
Savings & Investment Rates
Rates*
30-59 Days .55%
60-89 Days .65%
90-179 Days .85%
180-364 Days 1.00%
1 Year 3.60%
2 Year 3.45%
3 Year 3.29%
4 year 3.20%
5 Year 3.00%
Variable Rate RRSP 0.30%
Limited Time Special Rate Offer 4.20%
*Subject to change without notice. New money only. Registered & non-registered.
Tax Free Savings Account
Fixed terms 1-5 years same rates as above^
Savings TFSA interest rate of 2.50% interest paid monthly
*Rates subject to change without notice
!!Savings Madness Term Deposit!!
Savings Madness is an exclusive plan with a higher rate of interest to help you save with a goal in mind. Our Savings Madness term deposit has a rate of 5.00% compounding on each payment into the Savings Madness term. Savings Madness is designed to help you save your money for a specific goal (i.e. vacation, house down payment or other special purchase) within a specified time frame; we break down the total you need into payments over that time period and set up an automatic transfer from your account into the term on a schedule that works for you!
*Note: Missed payments or cashing out the Savings Madness early will forfeit all interest
Daily Interest Account
Interest paid (0.01%) semi-annually on June 30 and December 31st. Interest is calculated on the lowest DAILY balance. This account is best for you if the balance of your savings account is expected to fluctuate, or if you need access to your savings for an emergency.
