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Short-term redeemable term deposits

Higher interest, lower commitment.

Vancity deposits help support

Local small business and entrepreneurs.

Time Horizon

30 to 364 days

Risk

Low risk, guaranteed return*

Options for

Non-registered accounts only

Get started

Show me the goods.

This term deposit is great for:
When you want to earn interest for cash that you’ll be needing to use within the coming year.

How it works:
Get a guaranteed interest rate if you keep your money in until the maturity date. Take it out early, as in 30 days after opening the deposit but before maturity, and you’ll earn a reduced interest rate. If you withdraw in the 29 days after opening or renewing the term deposit, you won’t earn any interest. When redeeming, you must redeem the whole amount.

The term deposit will automatically renew at maturity unless specified otherwise.

Earning interest.

Get a guaranteed interest rate if you keep your money in until the maturity date. Take it out early, as in 30 days after opening the deposit but before maturity, and you’ll earn a reduced interest rate. If you withdraw in the 29 days after opening or renewing the term deposit, you won’t earn any interest.

30 - 364 days

$5,000

Deposits are 100% guaranteed by CUDIC
View rates

Ask the pros.

Our pros with some advice on this term deposit.

How does the short-term redeemable term deposit compare?

Short-term redeemable term deposits are very similar to cashable term deposits. Both are for investments under a year. A notable difference is that cashable term deposits can be withdrawn at any time after a 30 or 90-day lockout with no penalties but it may have a different interest rate.

What if I want to specify down to the day I'd like to withdraw?

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.

What if I want to invest longer?

Mutual funds* introduce risk but could potentially earn more than term deposits if you're investing longer than 5 years. The best portfolios include a mix of investments so you can get potentially higher returns and the access you need. Let's chat! Our professional advice is always free.

How do I withdraw from my term deposit?

To withdraw from a term deposit, please call us, visit a branch or send us a secure message in Online Banking with your request.

Term deposits have different conditions around withdrawing before maturity which will affect the interest you earn.

Non-redeemable term deposits cannot be withdrawn before maturity.

Get free personalized advice

Let's get saving.

Members can open non-registered term deposits or add a term deposit to an existing TFSA, RRSP, RRIF or RDSP in Account Services.

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New to Vancity or opening a new TFSA, RRSP, RRIF or other registered account? Let's chat.

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View legal details

*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions, their values change frequently and past performance may not be repeated.

ᶲ Short term redeemable term deposits withdrawn before maturity will be subject to a lower interest rate.