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Escalating term deposits

Each year you keep your money in an escalating term deposit the interest rate will increase. If you’re saving for a big purchase that’s at least a year away, but you’re not yet sure when exactly you’ll need your money, escalating term deposits are a great option.

  • Minimum investment is $500
  • Rates guaranteed to increase each year
  • Redeemable or convertible at each anniversary with full interest
  • Interest paid annually
  • RRSP, RRIF, RESP, RDSP options for three- and five-year terms are non-redeemable but allow conversion to another eligible investment at certain anniversary dates
  • TFSA investment option available for three-year terms

Let's open a term deposit

I'm already a member

To open a non-registered term deposit or add a term deposit to an existing TFSA, RRSP, RRIF or RDSP:

  • Login to online banking
  • Go to Account Services and select "Open an account".
  • If you're opening a short term redeemable term deposit and would like to specify a length down to the day rather than rounding to the nearest month (ex. 6 months and 15 days), please book an appointment or call us.

Want to open a new TFSA, RRSP, RRIF or RDSP and invest in term deposits?

Book an appointment

I'm not a member yet

Be a financial force for change. Join 500,000+ members and make money while putting your dollars to creating a cleaner and fairer world.

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