Long Term (7 to 12 years) RRSP Rates

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RRSP Interest Rates

Registered Term Deposits/GICs: 7 to 12 years
Financial Institution Redeem-
able
Redeemable
Term
Minimum
Deposit
Term In Years
7 8 9 10 11 12
BMO Bank of Montreal no   1,000 1.3000 - - - - -
Canada Life yes   500 .7000 .7000 .7000 1.7000 - -
Canadian Western Trust no   500 - - - - - .6500
EQ Bank no   100 2.1000 - - 2.4000 - -
Empire Life yes   500 1.1000 1.2500 1.3500 1.5000 - -
Industrial Alliance yes   1,000 - - - 1.2500 - -
Manulife Investments yes   2,500 1.0000 1.1500 1.3500 1.5500 - -
Royal Bank of Canada no   500 1.1500 - - 1.5000 - -
Interest compounded annually and paid at maturity.

Term deposits are investment products that offer a guaranteed rate of return for a pre-defined time period. The applicable interest rate varies according to the term of investment, the amount of money invested, the treatment of interest and whether or not the investment is redeemed prior to maturity. Term deposits are also known as GICs (Guaranteed Investment Certificates), or Accumulation Annuities when issued by an insurance company. These investments are registered for tax purposes as an RSP (retirement savings plan).

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