Term Deposits

Grow your business. Grow your money. It's a win-win

Competitive term deposit rates to meet your business needs

Ask us about our competitive rates and to maximize return and manage risk

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Why invest in a term deposit?

Complete security

Invest with peace of mind knowing you’ll enjoy guaranteed growth and 100% protection of your initial investment.

Flexible options

Customize your term deposit, with a range of terms, fixed or variable rates, and levels of access to your cash flow.

Competitive rates

Take advantage of competitive term deposit rates guaranteed for the entire time your money is invested.

Plan for business growth

Save and manage your cash flow with a growth strategy that is guaranteed to grow.

Explore business term deposits

Fixed-Rate Term Deposit

Lock in a competitive term deposit rate to enjoy secure, guaranteed growth of your investment.

Terms up to 5 years
Choice of cashable, redeemable & non-redeemable options
Great way to accelerate savings worry-free or protect yourself against inflation

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Beem Market Connect Term Deposit

Get the best of both worlds. Market Connect Term Deposits deliver security on your initial investment plus higher growth potential because the rates of return are linked to stock market performance.

No administration fees or commissions
Various investment options: TFSA, RRSP, or non-registered term
Higher potential returns
Eligible deposits are 100% guaranteed*

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*All deposits are guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia cudicbc.ca

Ready to set up your term deposit?

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How do I ladder term deposits?

Learn about term deposit laddering, what it is, how it works and why it’s a powerful strategy to minimize risk while maximizing your investment growth.

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Your term deposit questions answered

What is a term deposit?

A term deposit is a risk-free investment that offers higher interest rates than a traditional savings account. Unlike a traditional savings account, term deposits require you to invest your money for a fixed period, or a term, that can range from 30 days to several years, depending on your preference and financial goals.

How does a term deposit work?

A term deposit is a secure, low-risk investment that 100% guarantees the money you put in (known as the principal), while earning interest over a set period of time (known as the term).

Is a term deposit the same thing as a GIC?

Yes, they’re the same solution. A GIC (or Guaranteed Investment Certificate) is simply another name used to describe a term deposit.

Are term deposits taxed?

It depends on the type of account you hold your term deposit in. If your term deposit is in a registered account, like an RRSP or TFSA, it’ll enjoy special tax benefits. If it’s in a non-registered account, the interest it earns will be taxed along with the rest of your income.

What’s the difference between a cashable, redeemable & non-redeemable term deposit?

The key difference between these types of term deposit is how much access you have to the money you put in:

Redeemable term deposits can be cashed in at any time (but it may impact the interest earned)
Cashable term deposits can be cashed in after a certain period without penalty
Non-redeemable term deposits can’t be cashed in before the end of their term length

Typically, the more locked in your money is, the more interest you’ll earn on it. The best term deposit for you will therefore depend on your financial situation and when you might need the funds.

If you want help choosing, don’t hesitate to reach out! Our advisors are just a live chat, video, or phone call away to help.

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Can I cash in a term deposit early?

It depends on the type of term deposit you choose:

Redeemable term deposits can be cashed in at any time (but it may impact the interest earned)
Cashable term deposits can be cashed in after a certain period without penalty
Non-redeemable term deposits can’t be cashed in before the end of their term length

Are term deposits covered by deposit insurance?

Yes, your Gulf & Fraser term deposit and all the interest it earns is 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), regardless of the term length you choose.