Business Services

Term Deposits

A guaranteed investment that provides a fixed rate of return for a specific time period.

What is a Term Deposit?

A term deposit, also known as a guaranteed investment certificate (GIC), ensures that your money remains safe and secure. No matter what happens in the financial markets, you will receive the full value of your initial investment at maturity, plus any interest it has accumulated. 

Benefits of Term Deposits

Our current term deposit rates

1 Year Redeemable
Term Deposit

interest rate

1 Year
Term Deposit

interest rate

2 Year
Term Deposit

interest rate

*Rates subject to change

What's the best Term Deposit for you?

Term Deposit Options

Keep your money working for you while retaining access to your cash should the need arise.

  • Redeemable with interest after 60 days
  • Minimum deposit $500 ($100 if under 19 years of age)
  • Non-registered and TFSA, RRSP and RRIF eligible
  • Not redeemable prior to 60 days

Annual compound interest paid at redemption or at maturity. If term is redeemed after 60 days prior to the 1-year anniversary, simple interest will be calculated.

  • Choose from 18-, 19-, 20-, 21-, 22-, or 23- month terms
  • Non-redeemable prior to maturity
  • Minimum deposit $500 ($100 if under 19 years of age)
  • Non-registered and TFSA, RRSP and RRIF eligible

Annual compound interest paid annually and at maturity.

Non-personal members can earn an escalating, guaranteed rate of interest, with the flexibility of cashing in the investment at any time.

  • Redeemable with interest after 90 days
  • Escalating interest rate over time; the longer the term is held, the more interest will be earned
  • Minimum deposit $500
  • Non-registered only
  • Available to non-personal accounts only.

Annual compound interest paid annually, at redemption or at maturity. Interest earned must be reinvested back into the term deposit. Redemption available any time after 90 days. No partial redemptions permitted. If term is redeemed any time after 90 days prior to the 1 year anniversary, simple interest will be calculated on the principal amount for the number of days in the term and paid at redemption (principal x rate x number of days / 365 days). Minimum investment $500. Available to non-personal accounts only.

Are you looking for a simple, safe investment? A regular term deposit may be the ticket. It provides a guaranteed return, no risk, and lots of choice.

  • Terms from 30 days to 5 years
  • Cashable only upon maturity
  • Minimum deposit $500 ($100 if under 19 years of age)
  • Non-registered and TFSA, RRSP and RRIF eligible

Term Deposits of 364 days or less: Simple interest calculated on the principal amount for the number of days in the term deposit and paid at maturity. (Principal x rate x number of days / 365 days).
1- to 5-year Term Deposits: Compound interest paid monthly or annually.

Want the best of both worlds? The Flexi Term Deposit gives you a competitive, guaranteed interest rate, plus you have the option to withdraw a portion of your funds each year, should you want to reinvest it or use it for other purposes.

  • 5-year term available with the option to withdraw up to 20% of the initial investment on the anniversary date
  • 3-year term available with the option to withdraw up to 33% of the initial investment on the anniversary date
  • No obligation to reinvest the amount redeemed
  • Minimum deposit $2,500
  • Non-registered and TFSA, RRSP and RRSP eligible

Annual compound interest paid annually and at maturity.

Searching for an easy way to earn more interest than a savings account? A Nest Egg Term Deposit can be set up with as little as $10 per month.

  • 1-, 3- and 5-year terms available
  • Regular monthly deposits required
  • Minimum monthly contribution $10
  • Weekly or biweekly contribution options
  • Cashable only upon maturity
  • Non-registered and TFSA and RRSP eligible (not available for RRIF)

Interest is calculated on the daily closing balance and paid annually and at maturity.

Want a term deposit that offers flexibility along with annual rate increases? The RateBuilder Term Deposit has an interest rate that jumps every year to help your money grow faster. On each anniversary date, you can choose to either keep the investment or switch to another Alterna term deposit for the remainder of the term or longer.

  • Minimum deposit $500
  • 3-year term with re-investment options available on the 1st and 2nd anniversary date
  • 5-year term with re-investment options available on the 3rd and 4th anniversary date
  • Non-registered and TFSA, RRSP and RRIF eligible
  • Cashable only upon maturity

Annual compound interest paid annually, at redemption or at maturity.

Looking for a secure investment that provides protection from exchange rate fluctuations? Consider opening a US Dollar Term Deposit.

  • Flexible terms from 30 days to 5 years
  • Minimum deposit $500 ($100 if under 19 years of age)
  • Competitive, guaranteed interest rates for the term of your investment
  • Eligible for non-registered accounts only

US Dollar Term Deposits of 364 days or less: Interest calculated monthly and paid on maturity. Simple interest calculated on the principal amount for the number of days in the term deposit and paid at maturity. (Principal x rate x number of days / 365 days)
US Dollar Term Deposits of 1 to 5 years: Annual compound interest paid monthly or annually.
US Dollar Term Deposits are not covered under FSRA

Ways to Invest

Personal Banking
Advisors

Our advisors can help you purchase or renew your investments over the phone or in branch so you can achieve your financial goals.

Wealth
Management

Our advisors provide access to comprehensive, customized financial management built through integrity, ethics and responsibility.

Online
Investing

Bank anywhere with our online banking options. Buy or renew GICs/Term Deposits online or set up transfers.

Direct
Investing

Tap into timely insights and tools to invest with confidence in all market conditions with Qtrade® Direct Investing TM.

Calculators

Articles

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5 Reasons to invest in a GIC

A Guaranteed Investment Certificate (GIC) is a safe and secure investment choice with a very low risk. Here are five reasons why you should consider investing in a GIC.

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Pros and Cons of a Term Deposit

A term deposit can be a great addition to a balanced portfolio. Here are things to consider when determining which one makes the most sense for you.

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Types of Term Deposits

Whether you have short-term or long-term savings goals, there is a term deposit that will provide you with the security and flexibility you need.

3 Ways to Apply

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