Deposit Products
| Value Account |
| Youth account |
| Term Deposits and GICs |
Value Account ... is First Nations Bank's all-purpose chequing and savings account. Interest is paid monthly and calculated on each day's closing balance and you have the option of banking at First Nations Bank or any TD branch. You pay no transaction fees if you maintain a minimum monthly balance of $1000 and no monthly maintenance fee if your balance is $1,000 or more. In addition, you can take advantage of all TD Access electronic banking services by linking your Moneybuilder account to your First Nations Bank Access card. Call your First Nations Bank or a TD representative for full details.
The Youth account is the savings account for individuals
under the legal age of majority in the province where they live. The account pays monthly interest on
each day's closing balance and there are no withdrawal fees. Accounts may be opened in trust in the
name of a parent or grandparent for example. Children can also have accounts in their own name and
they can request their own Personal Access card.
Term Deposits and Guaranteed Investment
Certificates (GICs)
First Nations Bank offers
fixed term investments through both Term Deposits and GICs for its customers who are
interested in investing their money for a specific period of time in exchange for a
guaranteed rate of interest.
Customers can invest their money for different periods of
time ranging from 30 days to 5 years. A minimum investment of $1000 is required for
longer-term investments (1 - 5 years) and a minimum of $5,000 on Term Deposits for
short-term investments of 30 to 365 days. You can plan the maturity dates of all your
fixed term investments and be assured of a guaranteed return on your investment. Interest
payment dates and reinvestment options vary by product. Ask a First Nations Bank or TD
representative about all of your Term Deposits and GIC options.
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