Fixed-Term Deposit
- Non-Redeemable, registered.
- Short term: 30-59, 60-89, 90-179, 180-269 or 270-364 days.
- Minimum investment of $500.
- Access to funds at maturity only1.
- Short term interest is paid at maturity, long term interest is paid annually and at maturity date.
- Automatic reinvestment at current rate2.
- No annual contribution limits.
- Federal government grant contributions are available.
- Earn tax sheltered, compound interest at a guaranteed rate.
- Beneficiaries must be Canadian residents and have a valid Social Insurance Number.
- There is a lifetime contribution maximum of $50,000 for each beneficiary.
- Plans must be terminated by the 35th year that the plan was opened.
Rates
Short term
| 30 -59 days | 0.40% |
| 60 - 89 days | 0.55% |
| 90 - 179 days | 0.65% |
| 180 - 269 days | 0.80% |
| 270 - 364 days | 0.85% |
Long term
| 1 year | 1.45% |
| 2 years | 1.60% |
| 3 years | 1.80% |
| 4 years | 2.00% |
| 5 years | 2.20% |
Variable
- Non-redeemable, registered.
- No minimum investment.
- Access to funds: fully or partially cashable at any time1.
- Interest is calculated on the daily closing balance3 and is paid semi-annually on June 30 and December 31.
- No annual contribution limits.
- Federal government grand contributions are available.
- Earn tax sheltered interest.
- Beneficiaries must be Canadian residents and have a valid Social Insurance Number.
- There is a lifetime contribution maximum of $50,000 for each beneficiary.
- Plans must be terminated by the 35th year that the plan was opened.
- The RESP program is administered by Human Resources and Social Development Canada. Withdrawals are subject to the terms and conditions of the program.
- Unless other instructions provided prior to maturity.
- Interest on the variable RESP is based on a floating rate.
