Are you getting the best interest rates on your investment funds? Are you sure?
The truth is an increase from 2% to 3% on a $100,000 investment would allow you to make the same gain in just 2 years instead of 3. You would save an entire year!
Find Your Rate
Use the RRIF withdrawal calculator to determine the minimum amount you must withdraw from your RRIF, LRIF or LIF once you convert your RRSP or LIRA
RRIFs: 1 to 3 years | ||||||||
---|---|---|---|---|---|---|---|---|
Financial Institution | Minimum Deposit |
Term In Years | ||||||
1 | 2 | 3 | ||||||
B2B Bank | 1,000 | .6500 | .8500 | 1.0500 | ||||
BMO Bank of Montreal | 500 | .3500 | .5000 | .6000 | ||||
Bk Nova Scotia Mtg. Corp | 1,000 | .4500 | .5500 | .6000 | ||||
CIBC | 500 | .3500 | .5000 | .9000 | ||||
Canada Life | 500 | .1500 | .2000 | .4000 | ||||
Effort Trust | 1,000 | .7200 | .9600 | .9700 | ||||
Empire Life | 10,000 | .5000 | .5000 | .5000 | ||||
Kindred Credit Union | 500 | .9000 | 1.0000 | 1.1000 | ||||
Laurentian Bank Canada | 500 | .4500 | .5500 | .7000 | ||||
Luminus Financial | 500 | .8500 | 1.0000 | 1.1000 | ||||
Manulife Investments | 2,500 | .4500 | .5500 | .6500 | ||||
National Bank | 500 | .4000 | .5000 | .7500 | ||||
Oaken Financial | 10,000 | 1.4000 | 1.5000 | 1.6000 | ||||
Parama Credit Union | 1,000 | 1.2500 | 1.3500 | 1.4500 | ||||
Rapport Credit Union | 1,000 | .8500 | 1.1500 | 1.3000 | ||||
Sun Life - Insurance | 5,000 | .7500 | .8500 | .9000 | ||||
TD Canada Trust | 500 | .4000 | .5000 | .6000 |
Prepared by CANNEX on April 14, 2021 at 08:06:45 ET. This information is current as of the date and time posted and is subject to change without notice. © Copyright 2021 CANNEX Financial Exchanges Limited. All rights reserved.
But how can you be sure? The average investor is not easily able to compare rates and returns – this leaves you at the mercy of your broker and his honesty.
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Don’t invest in the dark anymore! A recent RBC poll said that many Canadian boomers ages 50+ are worried about experiencing a retirement savings shortfall.
Your broker can help you choose any GIC, mutual fund, segregated fund or ETF to grow your RRIF.
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