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 options for three- and five-year terms are non-redeemable but allows 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.
Want to open a new TFSA, RRSP, RRIF or RDSP and invest in term deposits?
Book an appointmentI'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.
Book an account opening