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Disclosures

How we calculate our interest rates

High Interest Savings Accounts
Current interest rate is 2.00%. This rate is subject to change without notice.

Tax Free High Interest Savings Accounts
Current interest rate is 2.00%. This rate is subject to change without notice.


Interest is calculated daily based on the closing balance in the HISA each day plus accrued interest (which results in the daily compounding of interest). Interest is credited monthly to the HISA.

Current GIC and Tax Free GIC Interest Rates

Term Interest Rate Tax Free Interest Rate
3 months 1.00% 1.00%
6 months 1.50% 1.50%
9 months 1.65% 1.65%
12 months 2.00% 2.00%
18 months 2.00% 2.00%
2 years 2.65% 2.65%
3 years 3.00% 3.00%
4 years 3.25% 3.25%
5 years 3.75% 3.75%

Current interest rates for GICs held to maturity are set out above.

Interest on the principal amount of a GIC is calculated and compounded daily and paid monthly.  Interest is paid either on maturity, or, at your option, monthly.

Cashing out early

If you decide to redeem a GIC with a term of 9 months or less before it matures, you will earn no interest.

If you decide to redeem a 12 month GIC before it matures, you will earn interest from the date the GIC was issued up to but excluding the early redemption date at the rate issued at funding, with interest compounded daily.

If you decide to redeem a GIC with a term of 18 months or more before it matures, the interest you earn will vary by the initial term.  You will earn interest from the date the GIC was issued up to but excluding the early redemption date, with interest compounded daily at the same rate.  

The early redemption rates per term per annum are:

Term Early Redemption Rate Tax Free Early Redemption Rate
18 months 1.50% 1.50%
2 years 1.50% 1.50%
3 years 1.50% 1.50%
4 years 1.50% 1.50%
5 years 1.50% 1.50%