Interest rate
Average rate of 3.45% for 3 years, and average rate of 3.40% for 5 years
Terms available
3 or 5 years
Redeemability
Partially or fully redeemable on the anniversary date
Why choose Redeemable Climbing-Rate Term Savings?
Guaranteed principal and returns
Your investment is guaranteed to grow with interest rates that are set in advance and increase yearly.
Competitive rates
Get a competitive interest rate based on the term you choose.
Redeemable with no penalty
You can withdraw all or part of your money once a year, on the anniversary date of your investment.
Interest rates
Effective
Annual rates for Redeemable Climbing-Rate Term Savings
| Year | 3-year term | 5-year term |
|---|---|---|
| Year 1 | 3.30% | 3.20% |
| Year 2 | 3.40% | 3.30% |
| Year 3 | 3.65% | 3.40% |
| Year 4 | – Empty. | 3.45% |
| Year 5 | – Empty. | 3.65% |
| Average interest rate | 3.45% | 3.40% |
If you prefer a short-term investment
You can get a 1-year term with our Redeemable Savings, and can access your funds anytime.
Eligible savings plans and accounts
| Plan or account | Minimum investment |
|---|---|
| TFSA, FHSA and RDSP | $1,000 |
| Non-registered | $1,000 |
Maturity value calculation
Say it's January 1, 2025, and you invest $25,000 in Redeemable Climbing-Rate Term Savings for 5 years. The annual interest rates range from 3.20% to 3.65%, and you reinvest the interest earned each year (compound interest).
In 5 years, your investment will accumulate $4,548.84 in interest and grow to a total of $29,548.84.
| Year | Interest rate | Investment | Total interest | Value on anniversary date |
|---|---|---|---|---|
| Year 1 | 3.20% | $25,000.00 | $800.00 | $25,800.00 |
| Year 2 | 3.30% | $25,800.00 | $851.40 | $26,651.40 |
| Year 3 | 3.40% | $26,651.40 | $906.15 | $27,557.55 |
| Year 4 | 3.45% | $27,557.55 | $950.73 | $28,508.28 |
| Year 5 | 3.65% | $28,508.28 | $1,040.56 | $29,548.84 |
Renew your term savings on AccèsD
If your term savings investment is eligible for renewal, you can renew it on AccèsD 60 days before maturity.
More information
Deposit insurance coverage
Your investment is eligible for deposit insurance, up to a certain limit.
Eligible for member dividends
Term savings are included when calculating your member dividends, if your caisse or credit union pays them.
Purchase your Redeemable Climbing-Rate Term Savings
By phone
Montreal area:
514-224-7737 This link opens your phone app. (514-CAISSES)
Elsewhere in Canada:
1-800-224-7737 This link opens your phone app. (1-800-CAISSES)
Or we can call you when it's convenient.