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MIC Term Deposit Rates
Notice: The following Rates are for RRSP, RRIF and Term Deposits.
- Minimum Deposit - $1,000
- Rate will float with the average yield on the total 1st 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
Base Rate
5.137 % |
Effective Date as of
June 1, 2009 |
| Principal Deposit Less than $100,000 |
| Term |
Interest Paid Yearly Initial Rate |
Base Offset |
Interest Paid Monthly Initial Rate |
Base Offset |
| 1 Year |
1.887 % |
-3.250 % |
1.387 % |
-3.750 % |
| 2 Year |
2.387 % |
-2.750 % |
1.887 % |
-3.250 % |
| 3 Year |
2.887 % |
-2.250 % |
2.387 % |
-2.750 % |
| 4 Year |
3.137 % |
-2.000 % |
2.637 % |
-2.500 % |
| 5 Year |
3.387 % |
-1.750 % |
2.887 % |
-2.250 % |
| Principal Deposit $100,000 or MORE |
| Term |
Interest Paid Yearly Initial Rate |
Base Offset |
Interest Paid Monthly Initial Rate |
Base Offset |
| 1 Year |
2.137 % |
-3.000 % |
1.637 % |
-3.500 % |
| 2 Year |
2.637 % |
-2.500 % |
2.137 % |
-3.000 % |
| 3 Year |
3.137 % |
-2.000 % |
2.637 % |
-2.500 % |
| 4 Year |
3.387 % |
-1.750 % |
2.887 % |
-2.250 % |
| 5 Year |
3.637 % |
-1.500 % |
3.137 % |
-2.000 % |
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