Investment Options

Guaranteed Investment Certificates (GICs)

Guaranteed Investment Certificates (GICs) offer slightly higher rates than Term Deposits however they cannot be cashed prior to maturity. GICs can meet both short term and long-term savings goals and are well-suited to a program of Staggered Maturities. Click here to learn more about the benefits of Staggering Maturity dates. GICs are also offered within an RSP and RRIF plan.

Short-Term Option

For a minimum investment of $ 5000.00, you can choose a term from 30 to 364 days. Within your RSP or RRIF plan, the minimum investment is $ 2000.00 and you can choose a term from 90 to 364 days. Interest is paid at maturity.

Long-Term Option

For a minimum investment of $1,000.00, you can choose a term of 1 to 5 years. Within your RSP or RRIF plan, the minimum investment required is only $500.00. Interest can be paid in one of three ways: compounded annually and paid at maturity; paid out semi-annually and at maturity; paid out annually and at maturity. Please note that for a minimum investment amount of $5,000.00 or more, you can choose to receive your interest payments on a monthly basis (payment option not available within an RSP).

Term Deposits

Term Deposits are offered as a short or long-term investment. You will benefit from both a guaranteed rate and flexibility as you can withdraw all or part of your funds prior to maturity at a reduced rate. Term Deposits are well-suited to short-term savings goals such as a car or home purchase but also allow for long-term savings with access in the event that funds are urgently required. Please note that this investment is not offered within an RSP.

Short-Term Option

For a minimum investment of $ 5000.00, you can choose a term from 30 to 364 days. Interest is paid at maturity for terms of 30- 89 days and is paid monthly and at maturity for terms of 90 days or more.

Long-Term Option

For a minimum investment of $ 1000.00, you can choose a term from 1 to 5 years. Interest is paid semi-annually and at maturity.