Your money, on tap. Enjoy predictable monthly payments while still earning interest on your principal.
The Money DRIP Term Deposit is a practical solution for members who want a guaranteed rate of return on an investment AND the confidence of knowing bills will be paid on time.
Deposit money into a guaranteed term deposit (GIC) and enjoy the benefits of knowing you are earning a guaranteed rate of return over the life of the term. Plus, the Money DRIP Term Deposit offers the ability to set up a pre-determined monthly withdrawal (or drips of funds) for regular expenses, new purchases, activities or emergencies.
✓ Manage monthly cash flow without sacrificing long-term savings.
✓ Lock in a guaranteed interest rate for the length of the term.
Terms & Conditions:
Minimum deposit $5,000. Interest rate guaranteed for length of term.
3, 4 or 5 year terms available. Interest calculated daily and paid on anniversary and at maturity. Early redemption not allowed.
Monthly payments are paid out of term to a demand account on the 15th of each month or on the last day of the month. Payments cannot be adjusted.
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