RRSP Term Deposits
RRSP term deposits - sometimes called "GICs" - are an important part of any well-rounded savings plan. They provide guaranteed growth over shorter and longer terms.
Apply for or contribute to an RRSP
- Available in 12, 18, 24, 36, 48 and 60 month terms
- Available in redeemable and non-redeemable options
- Guaranteed interest rate over the length of the term
- Interest compounds annually - earn interest on your interest
- Begin with as little as $1,000.00
RRSP terms and conditions
Speak to a Westminster Savings representative on the phone at 604-517-0100 or at your nearest branch for full terms and conditions.
- Choose a redeemable term deposit to keep your money accessible; choose a non-redeemable term deposit to earn higher interest if you don't need your money immediately.
- Consider a longer or escalating term deposit for higher interest over a longer term.
- Try to maximize your RRSP contributions when your income is highest: this can generate a larger income tax refund or reduce the amount of taxes you owe.
- Contribute to your RRSP on a regular basis, not just at "RRSP time". Consider the RRSP PayDay Plan for regular contributions.
- Automatically renew your term deposit to enjoy the power of compounding interest, or transfer to an RRSP savings account to keep your options open.
- Maximize all of your savings and investments: speak to a Westminster Savings representative to create a full savings and investment strategy.