TFSA non-redeemable term deposits
A TFSA non-redeemable term deposit provides an ideal opportunity to save – knowing you are guaranteed a fixed interest rate for a set period. In fact, because the rate is locked in for the length of the term, your investment typically earns a higher rate. Plus, because it’s a TFSA, you enjoy the added benefit of the interest accumulating tax-free.
- minimum investment is $500
- interest is guaranteed
- short term deposits are from 90 to 364 days, with interest compounded at maturity
- long term deposits are from 1 to 5 years, with interest compounded annually.
- only redeemable at maturity, at the end of the term
There are three easy ways to purchase a term deposit
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).
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.
