Term savings for businesses
Like guaranteed investment certificates (GICs), term savings are a type of investment that guarantee your business’s principal and interest until maturity.
Explore our guaranteed fixed-rate investments for businesses
- Your principal is 100% guaranteed
- The interest rate is fixed until maturity
- Various terms are available to meet your business needs
FAQ
Are term savings the same as guaranteed investment certificates (GICs)?
Term savings and GICs are similar. With both of these guaranteed investments, you invest your business’s funds for a specific amount of time at a fixed rate, so you know the return you’ll receive.
What’s the difference between redeemable and non-redeemable term savings for businesses?
With non-redeemable term savings, you can’t access your funds until the end of the term.
Redeemable term savings offer more flexibility, since you can cash out your business’s investment before maturity. Depending on the type of term savings you choose, you may be able to withdraw all or part of the money your business invested.
Both types of term savings are fixed-term investments, which means you’ll have to renew them or withdraw your funds at maturity.