What's a Term Deposit?
A term deposit is a low-risk way to save money at a fixed interest rate for a set period.
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 | 1.80% |
| 180-269 days | 1.85% |
| 270-364 days | 1.90% |
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% |
Simple process,
guaranteed returns
Please note!
Choose your term and amount
Decide on the amount you want to invest and the term length that fits your goals.
Complete the application
Apply online or visit one of our branches to process your investment. Find a branch.
Fund your deposit
Submit the desired deposit amount. You’ll receive a document confirming your investment and you can always see your investment and earnings in your online banking locked in a separate account.
Please note!
Questions? We got answers!
If you want to invest in a term deposit for a longer period, you can choose a new term when your current deposit matures. You may also have the option to renew automatically, depending on the type of deposit. Reach out to us to explore the best options for your savings goals.
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.
We don’t have any minimum amount requirements for term deposits.
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.
The Financial Services Regulatory Authority of Ontario (FSRA) provides deposit insurance for credit unions through the Deposit Insurance Reserve Fund (DIRF), guaranteeing up to $250,000 for non-registered accounts and unlimited coverage for registered accounts.
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