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.

Act Now!Apply for or contribute to an RRSP

Don't have a Westminster Savings RRSP?
Apply online, on the phone at 604-517-0100 or at your nearest branch.

Contribute to a Westminster Savings RRSP
If you already have a WSCU RRSP you can contribute to it in Online Banking, on the phone at 604-517-0100 or at your nearest branch.

RRSP features

  • 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.

RRSP tips

  • 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.