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Term Deposits - Redeemable
This term deposit investment is for you if:
- you're looking for a low risk term deposit investment with a guaranteed return.
- you want maximum flexibility in an investment—fixed or variable terms
and a variety of maturity options. - you want to save money but you want access to it when you need it
—you never know when the dryer will go.
Overview
Redeemable Options
Want the security of knowing you can access your funds should you need them—without penalty? Consider the following redeemable term deposit options:
- 12-Month Cashable
- StepUp® 6Plus6
- StepUp® 9Plus9
- StepUp® 18Plus18
- PRIMECONNECT™
- TOP 5—available at select times
For details on these investment products, click on the "Short Term" or "Long Term" tabs on this page.
Plus, you can rest easy knowing that your deposits are 100% guaranteed.†
Short Term
Product Options
12-Month Cashable
Our 12-Month cashable term deposit allows you to invest your money for a short period of time and still earn an attractive interest rate.
Key features & benefits:
- Fully cashable after the first 30 days so that you can access your money at any time for unexpected emergencies or other investment opportunities
- $500 minimum deposit with no maximum limit
- Available as a registered product so you can tax shelter the interest you earn
- Automatic renewal
- Interest is paid annually to the term deposit so you can earn more because of compounding interest
- Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.†
Long Term
Product Options
StepUp® Term Deposit
StepUp® term deposits offer guaranteed growth with a two-tiered escalating interest rate.
- StepUp® 6Plus6
- StepUp® 9Plus9
- StepUp® 18Plus18
Key features & benefits:
- Two-tiered interest rate with an increase halfway through the term
- Fully cashable
- Interest paid annually
- $500 minimum deposit with no maximum limit
- Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia†
PRIMECONNECT™ Term Deposit
Get the security of a guaranteed deposit with a prime-linked interest rate. So that wherever prime goes, your returns follow.
Key features & benefits:
- Fully redeemable on the anniversary date
- $500 minimum deposit with no maximum limit
- Tax sheltered growth: TFSA, RSP, RIF and LIF eligible
- Interest paid annually
- Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia†
TOP 5 Term Deposit — available at select times
Your rate is reset on each anniversary date to the best five-year rate at that time or the guaranteed rate. Don’t worry! It will never fall below your guaranteed rate.
Key features & benefits:
- 5-year term length so you can take advantage of a great rate over a longer period of time
- You have the option to withdraw up to 20% of your original deposit without penalty, once, anytime during the 5-year term
- Interest paid annually
- Available as a registered product (minimum deposit of $500) so you can tax shelter the interest you earn
- Rate is reset annually (on the anniversary date) to the current 5-year non-redeemable term rate or the guaranteed rate (whichever is higher)
- Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia†
Rates
Our Current Rates
| Current Promotional Rates (Rates effective 2019-06-20) | Rates |
|---|---|
| 120-day Non-Redeemable (new personal deposits only) | 2.50% |
| 20-month Non-Redeemable | 2.35% |
| Cashable (non-registered, RSP, TFSA, RIF, LIF) (Rates effective 2019-06-20) | Rates |
|---|---|
| 12-month cashable (redeemable after 30 days) | 1.00% |
| StepUp® 6Plus6 - first 6 months* | 0.70% |
| StepUp® 6Plus6 - second 6 months* | 3.10% |
| StepUp® 6Plus6 - average rate* | 1.90% |
| StepUp® 9Plus9 - first 9 months* | 0.70% |
| StepUp® 9Plus9 - second 9 months* | 3.30% |
| StepUp® 9Plus9 - average rate* | 2.00% |
| StepUp® 18Plus18 - first 18 months* | 0.70% |
| StepUp® 18Plus18 - second 18 months* | 3.80% |
| StepUp® 18Plus18 - average rate* | 2.25% |
| Redeemable (non-registered, RSP, TFSA, RIF, LIF) (Rates effective 2019-06-20) | Rates |
|---|---|
| 36-month PRIMECONNECT™ | 2.45% |
*Rates are subject to change without notice. Interest rates are per annum. Interest compounds annually. Terms and conditions apply.
†The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all BC credit union deposits. Credit Union equity shares and investments such as mutual funds or RSP equity plans are not covered by deposit insurance.
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