Term Deposits
| Short Term Redeemable (Rates effective 2023-01-27) | Rates |
|---|---|
| 30-59 days | 0.30% |
| 60-89 days | 0.30% |
| 90-119 days | 0.35% |
| 120-179 days | 0.40% |
| 180-269 days | 0.45% |
| 270-365 days | 0.45% |
| Wait and See Redeemable (Rates effective 2023-01-27) | Rates |
|---|---|
| 1 year | 0.10% |
| Long Term Redeemable (Rates effective 2023-01-27) | Rates |
|---|---|
| 1 year | 0.65% |
| 2 years | 0.85% |
| 3 years | 0.95% |
| 4 years | 1.05% |
| 5 years | 1.25% |
| Long Term Non-Redeemable (Rates effective 2023-01-27) | Rates |
|---|---|
| 1 year | 1.05% |
| 2 years | 1.20% |
| 3 years | 1.35% |
| 4 years | 1.50% |
| 5 years | 2.00% |
Key Benefits
Offers a guaranteed rate of interest for a specific term (short and long term) for customers who are prepared to lock in their funds or need the flexibility of a pre-encashment option. Diversify maturities by creating a laddering strategy using different "Term" lengths.
Cashability
Non-redeemable Term Deposits are not cashable prior to maturity, early encashment will be subject to buyback pricing except in the case of death or financial distress. The buyback penalty reflects the cost to the Bank for cashing the investment prior to maturity. The penalty is applied to the principal amount of the deposit. All interest is paid up to the date of cashing. Redeemable Term Deposits are cashable prior to maturity at a pre-encashment rate determined at the time of purchase. Must be held for at least 30 days to earn interest. Wait and See Redeemable Term Deposits are redeemable after 30 days at the posted rate as of date of purchase. Must be held for at least 30 days to earn interest.
