Term Deposit
There is a better option than letting your money sit in a bank account if you feel your cash reserves may come in handy on the short term. Opt for a flexible solution like a term deposit (TD).
Peace of mind
Looking for a risk-free investment just for a short while? Whether you’re averse to risk or have been burnt before, you should know that term deposits are a hallmark of safe investment that will afford you complete peace of mind. With a term deposit, your initial investment is 100% guaranteed.
Flexibility and attractive rate
Do you feel you may need your capital on short notice? Perhaps, you prefer to secure some leeway in case an investment opportunity arises? Because term deposits are cashable without penalty after 30 days, they offer all the financial flexibility you need. They are available with a 14-month terms.
Compared to a regular bank account, the competitive rate for this type of investment is most attractive. It’s a compatible mix of flexibility and attractive rate.
| CHARACTERISTICS | |
|---|---|
| Minimum investment | $500 |
| Term available | 14 months |
| Eligibility to a registered plan | Yes |
| Access to capital | Cashable without penalty after 30 days |
| Interest payment | Interest paid at maturity |
| Terms | Rates |
|---|---|
| 14 months (420 to 449 days) | 2.751 |
Summary
This investment product is suited for you if:
- You seek an investment vehicle that protects the initial amount of your investment;
- You prefer to be aware of your return from the outset;
- You anticipate the need to access your capital on short notice;
- You want a higher return than what offers a bank account.
This investment product is not suited for you if:
- You do not expect to need your invested capital for the duration of the term;
- You are looking for a high interest rate deposit product.
Legal Notice
This product is eligible for deposit insurance from the Canadian Deposit Insurance Corporation (CDIC) up to the maximum limit for coverage from the CDIC and subject to applicable conditions.
- Cashable without penalty after 30 days (min. $500). Simple interest is calculated and paid at maturity. Additional information, including product and promotional offer terms and conditions, are available in stores or at 1 844 494-0076. Product insurable by the Canada Deposit Insurance Corporation (CDIC) up to the maximum limits of CDIC coverage and subject to applicable conditions.
