
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 term30 -59 days | 0.10% | |
---|---|---|
60 - 89 days | 0.20% | |
90 - 179 days | 0.25% | |
180 - 269 days | 0.30% | |
270 - 364 days | 0.35% |
1 year | 3.75% | |
---|---|---|
2 years | 4.00% | |
3 years | 4.15% | |
4 years | 4.25% | |
5 years | 4.50% |
Fees
Transfer out: $100
Inactive account fee: $25
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.
Rates
Variable Rate | 1.50% |
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Fees
Transfer out: $100Inactive account fee: $25
- 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.