Term Deposits
- Competitive rates (inquire in branch).
- Minimum deposit 500.00.
- Guaranteed interest rates.
- Term options from 7 days to 5 years.
- Redeemable and Non-Redeemable options available.
- Interest paid at maturity or annually for long term investments.
- Monthly Statements
Tax Free Savings Account
- Registered Account.
- Available to Canadian residents aged 18 and older.
- Unused contribution room will be carried forward and can be used in future years.
- Withdrawals are tax free.
- Withdrawals increase unused contribution room in the next year.
- Contributions will not be tax deductible.
- Capital gains and income earned is not taxed.
- Semi – Annual Statements (June, December).
AgriInvest
- Available to producers who report farming income (loss) to Canada Revenue Agency.
- Deposits based on a percentage of your allowable net sales.
- Matching deposit from government.
- Interest earned on tiered interest rates (inquire in branch).
- Interest paid at month end.
- Monthly statements.
- Access account in branch or by phone.
Registered Retirement Savings Plan (RRSP)
- Registered Account.
- Contributions tax deductible.
- Interest earned tax sheltered.
- For anyone that has earned income.
- Has to be collapsed December 31 the year you turn 71.
- Semi – Annual Statements (June, December).
Registered Retirement Income Fund (RRIF)
- Created from money accumulated from RRSP’s
- RRSP money has to be converted to a retirement option at the age of 71
- Funds remain tax sheltered
- Pay income tax on the withdrawal
- Semi – Annual Statements (June, December).