Term Deposits

Term deposits, also known as Guaranteed Investment Certificates (GICs), are a saving vehicle. See below for the different term deposit types to find the best fit for your financial needs.

Long-Term Term Deposit

Investing in term deposits gives you a secure way of locking in an interest rate. With these fixed rate, these non-redeemable investments will allow you to receive the highest earnings possible without having to worry about reinvesting every few months.

Product features:

  • Duration of 180 days to 5 years
  • Minimum investment of $500 is required
  • Flexible options at maturity – reinvest, invest in another term deposit, or withdraw the funds

Eligibility includes RRSP, RRIF, TFSA

Contact your branch  for more information.

Escalating Rate Term Deposits

The escalating rate term deposit offers guaranteed returns and rates that increase each year. You deposit funds with us for 3 to 5 years, and we provide you with guaranteed interest rates.

Product features:

  • Increasing rate after each year of the term
  • Interest compounded annually and paid at maturity
  • Minimum investment of $500 is required

Eligibility includes: RRSP

Contact your branch for more information.

 

 

* "Standard & Poor's®" and "S&P®" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Credit Union Central of Ontario and sublicensed by the Credit Union.  "TSX" is a trademark of the Toronto Stock Exchange and has been licensed for use by Credit Union Central of Ontario and sublicensed by the Credit Union.  The Index-linked term deposits are not sponsored, endorsed, sold or promoted by Standard and Poor's or the Toronto Stock Exchange and neither party makes any representation regarding the advisability of investing in these deposits.

 

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