Investment Services
Term Deposits
- available in Redeemable and Non-Redeemable options
Redeemable
- term lengths 30 days – 3 yrs
- redeemable after 30 days for term lengths between 30 days – 2yrs @ 2% penalty if redeemed prior to term maturity unless on anniversary date
- minimum deposit $1000.00 (18 yrs and younger minimum deposit $300.00)
- interest calculated on the closing daily balance and is paid annually, for terms less than 1 year interest is paid at maturity
- interest may be compounded
Non – Redeemable
- term lengths 1 to 5 years
- minimum deposit $1000.00 (18 yrs and younger minimum deposit $300.00)
- interest calculated on closing daily balance and is paid annually
- interest may be compounded
- monthly interest available; rate discounted by ½%
RRSP & RRIF
Variable Accounts
- no minimum deposit
- interest is calculated on minimum closing daily balance and paid semi-annually on June 30 th and December 31 st
- Pre Authorized Deposits may be set for regular contributions
Fixed Term Deposits
- term lengths 1 to 5 years
- interest is calculated on minimum closing daily balance and paid annually
- non-redeemable except upon death and Revenue Canada 's Home Buyers and Life Long Learning Plans
RESP - Registered Education Savings Plan
LIRA - Locked In Retirement Account
- for funds that have been transferred from a pension plan
- same feature as RRSP Fixed Terms and RRSP Variable apply
