Deposit Services

Term Deposits

What is a Term Deposit?

When you invest in a term deposit you deposit a sum of money for a specific period of time at a fixed interest rate. Usually, the longer the investment period, the higher the rate of interest paid.

How is it different from a high interest business savings account?

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A business prime savings account has a tiered interest rate that is tied to the prime rate. The rates on the business prime savings account are less than term deposits; however, the advantage is that you are still getting monthly compound interest without having to contact the branch to move funds around for you.

When you invest in a business term deposit you deposit a sum of money for a specific period of time at a fixed interest rate. Usually, the longer the investment period, the higher the rate of interest paid. Our term deposits can be cashable or redeemable so that you can have access to funds when you need them. Our non-redeemable products have higher rates, but the funds are non-redeemable for the full amount of the term.

Cashable terms are appealing to businesses because they can withdraw funds at any time without penalty.

How is it different from a Guaranteed Investment Certificate (GIC)?

At Integris, there is no difference between a term deposit and a GIC. Integris offers many different investment options when it comes to term deposits and our interest rates are very competitive with the larger financial institutions.

Staggering Term Deposits for Businesses – What is the advantage?

Term deposits can be attractive when you are investing for a long term (up to 10 years) and also when you have excess cash for a brief period of time (as little as 30 days). You choose the term you desire. It may even be possible to divide your investment into a number of terms, either to ensure you have funds as you need them or to secure current interest rates for the future.

What type of account do I need for a Term Deposit?

Term deposits may be placed under any of our regular business account packages. Speak with your account manager today for more details.

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What is the difference between cashable/redeemable term deposits and non-cashable/non-redeemable term deposits?

  • Cashable – the funds are allowed to be withdrawn at any point during the duration of the term
  • Redeemable – the funds are allowed to be cashed out, however, there is a penalty for redeeming before the term comes due
  • Non-cashable/non-redeemable – these term deposits are non-accessible for the full duration of the investment term.

Do you have a special rate term deposit?

In addition to our standard term deposit, we sometimes offer term deposit specials. These specials are priced higher than our standard deposits and often have special cashability features. Check in-branch or our current rates page for current promotions.

What is an index-linked term deposit and what are the benefits of having one?

Index-Linked Term Deposits allow you to diversify your investments by allocating your funds in stocks, bonds and cash equivalents without risking your principal investment. This is a Canadian investment that is linked to the Toronto 60 Index. Because term deposit rates have been low, index-linked term deposits are an attractive way to enhance potential returns while ensuring that the initial investment remains secure. These term deposits are available for fixed terms of 3 or 5 years. No management fees or commissions are applied and there are no early redemptions accepted.

Do you have US dollar term deposits?

Along with our US Dollar chequing accounts, we also offer a wide range of term deposits dealing in US Dollars. 

Deposit Insurance

B.C. Credit Union Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.

Check out our current rates.