With a term investment, from the day you make your deposit, you know the interest rate you'll be getting and how long you'll be investing for.
A term investment is right for you if:
- You want a guaranteed interest rate for your investment
- You're looking for an investment that's eligible for most non-registered and registered plans
Term investments offered
| Your capital is always available (it can be used as an emergency fund). | You can choose a term between 3 months and 20 years. | Your interest rate goes up each year until the end of the term. | You generally get a higher interest rate than you would on a redeemable term investment. Available in Quebec only. |
| Term doesn't apply. | Term between 3 months and 20 years. | Term of 5 years. | Term of 3 years or more. |
| Can be withdrawn at any time. | Can be redeemed at any time. | Can be redeemed once a year only within the 30 days prior to the anniversary date. | Cannot be redeemed. |
| Potentially higher interest rate than on a chequing account. | Interest rate varies depending on the amount invested. | Compound interest rate. | Higher interest rate than on a redeemable term investment. |
| Interest rate can vary from day to day depending on the markets. | Guaranteed return at maturity. | Guaranteed return at maturity. | Guaranteed return at maturity. |
| Eligible for registered (RRSP, TFSA, etc.) and non-registered plans. | Eligible for registered (RRSP, TFSA, etc.) and non-registered plans. | Eligible for registered (RRSP, TFSA, etc.) and non-registered plans. | Eligible for RRSP and non-registered plans. |