Climbing-Rate Term Savings

Quick facts

  • Main feature: principal 100% guaranteed
  • Terms: 3 or 5 years
  • Average interest rate: 1.63% to 2.32%1 for the Climbing-Rate Term Savings (rate increases from year to year, guaranteed until maturity)
Get this product Becoming a member

Who should get this investment?

Savers who want their capital to grow and earn high returns. Ideal if you want to invest in your RRSP or save for a medium-term project.

Features

Interest rate
  • Increases from year to year.
  • Guaranteed until maturity.
Minimum deposit
$1,000
Returns
  • High.
  • Interest paid annually or at maturity2.
Eligible for these plans
  • Registered plans: TFSA, RRSP, LIRA, locked-in RRSP, RRIF, LIF and RDSP.
  • Non-registered plans.
Redemption terms
  • Registered plans (other than the TFSA): convertible and non-redeemable.
    • On the deposit anniversary date, you can convert all or part of your savings to a non-redeemable term savings or a fund available at your branch. Minimum remaining balance of $1,000 applies to partial conversions.
  • Non-registered plans and TFSA only: non-convertible but redeemable.
    • On the anniversary date, you can cash in all or part of your savings without penalty. Partial withdrawal of at least $1,000 of your savings if you maintain a minimum balance of $1,000.
  • Non-registered plans and TFSA only: non-convertible and non-redeemable option offered at a higher rate
Other
  • In Ontario, deposits in registered savings plans are insured for their total amount. Other deposits in Canadian dollars are insured up to $100,000. Find out more about deposit insurance.
  • Eligible for potential member dividends.

How to get this product
Online Online
(Members who use AccèsD)
Guaranteed 100% Secure
Log on to AccèsD
By phone By phone
Call 1-888-283-8333
At the branch At the branch
Make an appointment with an advisor at a branch.

1. Depending on type of plan (registered or non-registered) and available options (redeemable or convertible).
2. For income tax purposes, interest declared annually is based on average return at maturity.

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