MIC RRSP / RRIF Rates
NOTICE : The following Rates are for RRSP, RRIF and Term Deposits.
| 1. | Minimum Deposit - $1000 |
| 2. | Rate will float with the average yield on the total 1st mortgage portfolio |
| 3. | Rate will be adjusted on the 1st of each month based on the mortgage yield on the 1st day of the previous month |
| 4. | Interest will be paid to a chequing or savings account or compounded at the members option |
| 5. | Redemption penalty will be 1% of principal balance for each remaining or part thereof. |
|
Base Rate
5.292% |
Effective Date as of
May 1, 2008 |
|
Principal Deposit Less than $100,000 |
||||
|---|---|---|---|---|
|
Term |
Interest Paid Yearly Initial Rate |
Base Offset |
Interest Paid Monthly Initial Rate |
Base Offset |
|
1 Year |
2.042% |
-3.250% |
1.542% |
-3.750% |
|
2 Year |
2.542% |
-2.750% |
2.042% |
-3.250% |
|
3 Year |
3.042% |
-2.250% |
2.542% |
-2.750% |
|
4 Year |
3.292% |
-2.000% |
2.792% |
-2.500% |
|
5 Year |
3.542% |
-1.750% |
3.042% |
-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 |
2.292% |
-3.000% |
1.792% |
-3.500% |
|
2 Year |
2.792% |
-2.500% |
2.292% |
-3.000% |
|
3 Year |
3.292% |
-2.000% |
2.792% |
-2.500% |
|
4 Year |
3.542% |
-1.750% |
3.042% |
-2.250% |
|
5 Year |
3.792% |
-1.500% |
3.292% |
-2.000% |
