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You are here: Home > Personal > Savings and investment > Guaranteed fixed-rate investments > Climbing-Rate Term Savings
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Climbing-Rate Term Savings
Multiple interest rates = higher returns!
- Capital 100% guaranteed
- 3- and 5-year terms
- Average interest rate: 1.20% to 1.54%1 for the Climbing-Rate Term Savings (rate increases from year to year, guaranteed until maturity)
It's ideal if you want to earn higher returns, invest in an RRSP or save for a medium-term project.
Interest rate
Guaranteed until maturity
Eligible plans
- Registered plans: TFSA, RRSP, FTA1, LIRA, locked-in RRSP, RRIF, LIF and RDSP
- Non-registered plans
Minimum deposit
$1,000
Return
- High
- Interest paid annually or at maturity2
Redemption
- RRSP, FTA, LIRA, locked-in RRSP, RRIF, and LIF: 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 caisse.
- Non-registered plans, TFSA and RDSP:
- Non-convertible but redeemable: on the anniversary date, you can redeem 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-redeemable and non-convertible: offered at a higher rate.
Other
- Learn more about deposit insurance (FAQ).
- Eligible for potential member dividends (RDSP ineligible).
Learn more about member dividends.
1. Not available in Ontario.
2. For income tax purposes, interest declared annually is based on average return at maturity.
- Competitive: because the interest rate increases annually, you earn higher average returns
- Flexible:
- You can cash in your savings or reinvest them
- You can redeem all or part of your investment at anniversary dates for non-registered accounts
- Ideal when interest rates are rising
- Stable and secure: your capital and interest are guaranteed
Useful links
| Year | Rate |
|---|---|
1st year |
0.80% |
3rd year |
1.25% |
5th year |
2.80% |
Average rate |
1.538% |