If you travel frequently to the U.S. or hold assets south of the border, these investments earn a competitive interest rate while helping you avoid exchange-rate fluctuations. A minimum investment of $5,000 is this term deposit is cashable anytime. Interest is paid in U.S. funds at maturity, no interest on early redemptions.
Apply By Phone
Annual Interest Rate
A term deposit is an investment, a fixed amount of money that is deposited for a fixed period of time.
There is no difference between a Term Deposit and a Certificate of Deposit (CD), a CD is simply a type of Term Deposit. A Certificate of Deposit is issued by a bank, and a Share Certificate is issued by a Credit Union.
If the amount deposited if not needed for the fixed term of the depotst, a term deposit will yield a higher rate of interest. The interest rate of term deposits is higher than the interest paid on a savings account.