RRSP flexible term deposits
A choice of three investment options that offer a range of flexibility and interest rates to meet your investment objectives.
There are three easy ways to purchase a term deposit
1-year convertible term deposit
Park your RRSP contribution in this term deposit until you decide when and how to invest it. It's a safe way to meet your RRSP contribution deadline. And your money earns higher interest than in a savings account.
- minimum investment is $500
- you’re free to switch your investment any time to another 1-5 year RRSP or RRIF term deposit, or to another investment product offered by our wealth management professionals.
- interest rate guaranteed for 1 year
3-year escalating term deposit
Provides you with an interest rate that rises and the flexibility to switch to another investment without penalty.
- minimum investment is $500
- typically pays higher interest than regular three-year term deposits
- convertible at each annual anniversary to another term deposit of equal remaining length of the investment or to another eligible investment product offered by Vancity
- interest compounded annually
5-year escalating term deposit
Guaranteed rate increases keep your returns on the rise. On the third and fourth anniversary, you are free to switch your investment to any investment option without interest penalty.
- pays higher interest rate than regular 5 year term deposits
- convertible on the third and fourth anniversary to another term deposit of equal remaining length of the term or to another eligible investment product offered by Vancity
- interest compounded annually