TFSA flexible term deposits
A choice of 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
The TFSA 1-year cashable term (with 30-day lockout)
The TFSA 1-year cashable term deposit is a short-term investor’s dream. Not only does it boast the flexibility of a redeemable product, it offers a competitive guaranteed rate and, of course, tax-free earnings.
Length of term: 1 year with 30-day lockout (meaning you can access your funds without penalty after the first 30 days.) .
Features and benefits
- Minimum deposit is $500
- Interest is compounded annually
- Accrued interest is tax-free
- The rate is guaranteed for the period of the 1-year term
- Lockout period is 30 days (no interest paid if cashed within this period)
- Cashable at any time, in part or in full
TFSA 3-year escalating term deposit
Provides you with an interest rate guaranteed to rise within the 3-year term and the flexibility to redeem at the end of each year.
- minimum investment is $500
- typically pays higher interest than regular three-year term deposits
- redeem without penalty at the end of each year
- interest compounded annually
Let's chat
We take tremendous pride in helping you come to the best decisions. If you’d like to discuss strategies for saving, contact us at 604-877-7000, or visit your nearest branch.
TFSA tip: Place funds in a term deposit early in the calendar year to maximize the accumulation of interest (and therefore the tax you save).
Jumpstart® is a registered trade-mark of Vancouver City Savings Credit Union
Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.