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Term savings

Like guaranteed investment certificates (GICs), term savings are investments that guarantee your principal and interest until maturity.

Guaranteed fixed-rate investments

  • Principal 100% guaranteed
  • Interest rate guaranteed until maturity
  • Interest earned can be reinvested or paid out once a year

Term S@vings

Great if you want to

  • Invest on your own
  • Get a competitive fixed rate

Interest rate

2.90% to 3.30%

Terms available

1 to 5 years
Learn more about Online term savings

Term Savings

Great if you want to

  • Put your money in a secure, competitive investment
  • Know how much interest you'll earn

Interest rate

1.70% to 3.25%

Terms available

30 days to 10 years1
Learn more about Term Savings

Enhanced Savings Plan

Great if you want to

  • Reach a savings goal by setting up regular transfers 
  • Track your progress online as you work towards your savings goal

Interest rate

1.00%

Terms available

Flexible—6 months to 5 years
Learn more about Enhanced Savings Plan

Redeemable Savings

Great if you want to

  • Invest in term savings for short-term goals
  • Access your money if you need it

Interest rate

2.20%

Terms available

1 year
Learn more about redeemable savings

Redeemable Climbing-Rate Term Savings

Great if you want to

  • Save for a short- or medium-term goal
  • Get increasing returns each year and the option to redeem

Interest rate

Average rate of 2.75% for 3 years, and average rate of 3.00% for 5 years

Terms available

3 or 5 years
Learn more about Redeemable Climbing-Rate Term Savings

U.S. Dollar Term Savings

Great if you want to

  • Save for a medium-term goal
  • Get a higher return by investing with US dollars

Terms available

30 days to 5 years
Learn more about U.S. Dollar Term Savings

Investment calculator

Our calculator lets you see how much your investment will be worth at the end of its term.

Guaranteed investments for retirement income

Get your principal back plus interest on your investments.

Regular Income Term Savings

Great if you want to

Turn your savings into income

Interest rate

2.80% to 3.20%

Terms available

1 to 5 years
Learn more about Regular Income Term Savings

Personalized Annuity Term Savings

Great if you want to

  • Draw regular income from your RRIF or LIF for retirement

  • Enjoy both the security of an annuity and the flexibility of an investment

Interest rate

2.80% to 3.20%

Terms available

1 to 5 years
Learn more about Personalized Annuity Term Savings

Are term savings the same as GICs?

Term savings are similar to GICs. They're both secured investments where you deposit money for a fixed period. You know how much interest you'll earn, and your return depends on the term length you choose.

How to renew your term savings

Depending on the investment you've chosen, you can renew your term savings online on AccèsD or with help from an advisor.

Your investments are protected by deposit insurance

In Quebec, the Autorité des marchés financiers (AMF) insures eligible deposits up to a certain limit, whether they're in Canadian dollars or another currency.

FAQ

What is the difference between redeemable and non-redeemable term savings?

With non-redeemable term savings, you cannot withdraw your money until the end of the term.

Redeemable term savings are more flexible—you can withdraw funds before maturity. Depending on the type of term savings, you may be able to withdraw all or part of the amount you invested.

In both cases, term savings are fixed-term investments, which you must renew or cash out at maturity.

Do I have to pay taxes on the interest earned on term savings?

The interest you earn on your term savings is taxed every year unless you hold them in a registered savings plan like an RRSP, TFSA or FHSA, which offer various tax advantages.

To shelter your term savings from taxes, put them in an RRSP, TFSA or FHSA, depending on your goals and desired tax benefits.

Simple vs compound interest: What is the difference?

You can choose to earn simple or compound interest with certain term savings.

With simple interest, you earn interest only on your principal for the entire term. You can deposit the interest earned each year into another account.

Compound interest maximizes your return. When you choose compound interest, you earn interest on your principal and the interest earned in previous years. This interest gets reinvested in your term savings each year.

What is the difference between term savings and market-linked guaranteed investments (MLGIs)?

When you invest in term savings, your principal and returns are guaranteed. The interest rate is set and stays the same for the whole term, even if interest rates go up or down.

With market-linked guaranteed investments, your principal is also guaranteed, but you could earn more based on stock market performance. Depending on the MLGI you choose, you'll either get a guaranteed return combined with a possible variable return or a higher return linked directly to the market. You'll find out how much interest you've earned only when your investment matures.2

Contact us

By phone

Elsewhere in Canada:
1-800-224-7737 This link opens your phone app. (1-800-CAISSES)

Or we can call you when it's convenient.

With an advisor

Book an appointment on AccèsD if you're a member, and meet with an advisor online, in person or over the phone.

Other investment options to boost your savings

Rates subject to change without notice. Phone and in-caisse requests for terms of less than 1 year and more than 5 years.The total return on a market-linked guaranteed investment (MLGI) is only known at maturity and may be nil.