Escalator Term Deposit
Watch your investment grow with interest rates that increase over three or five year terms with an Escalator Term Deposit.
What is it?
An Escalator Term Deposit is a guaranteed investment, available in three or five year terms, with rates of return that increase every year of the term! This investment carries the additional flexibility of allowing redemptions annually, on the term anniversary. The minimum investment rates is $1,000.
With an Escalator Term Deposit you can enjoy interest rates that increase over a three or five year term. Your entire investment is guaranteed so your financial fitness can only go up!
Who is it for?
Anyone who is looking for medium to long-term investment time frame, has low risk tolerance and wants flexibility to access the funds on an annual basis.
What are the benefits?
- Interest rates increase annually on anniversary date.
- Eligible for Registered Retirement savings Plans (RRSP) and Tax Free Savings Accounts (TFSA).
- Principal investment and return are guaranteed.
- Interest is compounded annually.
- Flexibility to redeem annually on term anniversary.
Check out our Escalator Term Deposit brochure for more information.
Make an appointment online, or call TeleService at 1-877-WESTOBA to learn more about making an Escalator Term Deposit part of your financial fitness routine!