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Mortgage Investment Certificate (MIC) RRSP / RRIF / Term Deposit Rates
Notice: The following Rates are for RRSP, RRIF and Term Deposits.
Base Rate
4.449 % |
Effective Date as of
September 1, 2010 |
| Principal Deposit Less than $100,000 |
| Term |
Interest Paid Yearly Initial Rate |
|
Interest Paid Monthly Initial Rate |
|
| 1 Year |
1.199 % |
|
0.699 % |
|
| 2 Year |
1.699 % |
|
1.199 % |
|
| 3 Year |
2.199 % |
|
1.699 % |
|
| 4 Year |
2.449 % |
|
1.949 % |
|
| 5 Year |
2.699 % |
|
2.199 % |
|
| Principal Deposit $100,000 or MORE |
| Term |
Interest Paid Yearly Initial Rate |
|
Interest Paid Monthly Initial Rate |
|
| 1 Year |
1.449 % |
|
0.949 % |
|
| 2 Year |
1.949 % |
|
1.449 % |
|
| 3 Year |
2.449% |
|
1.949 % |
|
| 4 Year |
2.699 % |
|
2.199 % |
|
| 5 Year |
2.949 % |
|
2.449 % |
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- Minimum Deposit - $1,000
- Rate will float with the average yield on the total 1st residential mortgage portfolio
- Rate will be adjusted on the 1st of each month based on the mortgage yield on the 1st day of the previous month
- Interest will be paid to a chequing or savings account or compounded at the members option
- Redemption penalty will be 1% of principal balance for each remaining or part thereof
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