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What’s a term deposit for business?
A term deposit is a business savings option where you invest money for a fixed term at a guaranteed interest rate
What is it for?
How it works?
Get to know our Term Deposits
Invest in two currencies
CAD Term Deposit
Secure your savings in Canadian dollars with a guaranteed rate of return. A simple and safe way to grow your money over a fixed term while keeping your investment protected.
USD Term Deposit
Grow your savings in US dollars with a guaranteed rate of return. Enjoy peace of mind knowing your investment is secure while earning interest over a fixed term.
Featured rates
CAD Term Deposit
| Term | Interest rate |
|---|---|
| 30-59 days | 0.50% |
| 60-89 days | 0.60% |
| 90-179 days | 2.15% |
| 180-269 days | 2.25% |
| 270-364 days | 2.25% |
USD Term Deposit
| Term | Interest rate |
|---|---|
| 30-59 days | 0.50% |
| 60-89 days | 0.60% |
| 90-179 days | 0.70% |
| 480-269 days | 0.80% |
| 270-364 days | 0.90% |
Need professional advice?
Simple process,
higher returns
Please note!
Check your business eligibility
Verify your business meets our term deposit requirements:
- Registered Canadian businesses
- Incorporated companies
- Sole proprietorships
- Partnerships with valid business registration
- Minimum 6 months of business operation history
Provide documentation
- Government-issued business registration document
- Valid government ID for primary business owner, recent financial statements (last 3-6 months), proof of business address
- Tax identification number
Choose deposit option
Select your ideal term deposit by considering your business financial goals. Choose from flexible terms ranging from 30 days to 36 months, with minimum deposits starting at $10,000.
Submit application
Complete the process online via our secure online marketplace, visit one of the BCU Financial branches in person, or schedule an appointment with a dedicated business banking advisor who can guide you through each step.
Confirm and fund
After selecting your term deposit, review the final agreement carefully. Transfer funds from your business account to activate the deposit. Once completed, you’ll receive an official term deposit certificate.
Please note!
Questions? We got answers!
If your term deposit is non-redeemable, you’ll need to wait until the maturity date to withdraw your funds. For redeemable term deposits, you can withdraw early, but there may be interest penalties, unless other conditions are specified in the T&Cs of the term deposit. Visit one of our branches or contact us to review your options.
Interest rates for term deposits are based on factors like the term length, market conditions, and the type of deposit you choose. The longer you commit to keeping your funds in the deposit, the higher usually is the potential interest rate. Check with us for the latest rates and options that fit your savings goals.
A term deposit locks in your funds for a fixed period at a guaranteed rate, while a business savings account allows flexible access to your money but with variable interest which is usually lower than a term deposit’s. Term deposits usually offer higher returns since you commit to keeping your funds untouched.
Yes, any earnings from a term deposit are considered business income and may be subject to taxation. We recommend consulting a tax professional to understand how it applies to your specific situation.
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