Term Deposits
Guaranteed investments that grow with flexibility...that's the value of a Bayview Term Deposit!
Available in both RRSP and Non-RRSP format, Bayview Credit Union Term Deposits offer you the "set it and forget it" peace of mind you want in a guaranteed investment. Terms range from 30 days to 5 years in length and the interest rate of return at the time you invest is guaranteed if you leave the term deposit untouched. Interest is calculated monthly and paid annually.
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Description>>
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Redeemable Guaranteed Investment
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Terms >>
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30-59 days
60-89 days
90-119 days
120-179 days
180-269 days
270-364 days
1-5 years
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Interest Type >>
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Compound Annual
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RRSP Available >>
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Yes (1-5 years only)
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| RRIF Available >> | Yes (1-5 years only) |
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Minimum Amount >>
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30-364 days, Non-RRSP only: $5,000
1-5 years, RRSP & Non-RRSP: $500
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Redeemable >>
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Yes, with rate reduction:
early cashout rates:
original interest rate 2% plus = 1%
original interest rate <2% = 0.5%
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Deposit Insured >>
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Yes NBCUDIC
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Early Cashing
Term Deposits allow you the flexibility to access your funds at anytime by cashing the investment early, but at a reduced rate. As such, interest rates tend to track slightly lower than non-redeemable GICs, which may not be early redeemed.
Term Deposits are a useful tool in your investment strategy, designed to meet long term investment goals and give you an accessibility option.
