Registered Retirement Savings Plan (RRSP) GICs
Available through Peoples Trust
What is an RRSP GIC?
Save for your retirement with peace of mind, investing in a Registered Retirement Savings Plan (RRSP) GIC. Contributions to your RRSP reduce your taxable income which means you pay less tax during that year. And the interest earned is tax-sheltered until you withdraw it, giving it more time to grow. GICs are locked in for the duration of their term and are non-redeemable prior to maturity.
What you’ll get
- Terms from 1 to 5 years.
- Rate is fixed and guaranteed for the full term of your investment.
- Interest earned is tax sheltered until you withdraw it.
- No set-up, service, or transfer fees.
RRSP GIC Rates1
Term Length |
Rates |
|---|---|
| 1 year | 2.90% |
| 2 year | 3.00% |
| 3 year | 3.25% |
| 4 year | 3.25% |
| 5 year | 3.45% |
Additional Information
- Minimum deposit is $1,000.
- Ability to designate a beneficiary.
- Monthly statement available online.
- Eligible for deposit insurance offered by Canada Deposit Insurance Corporation (CDIC).2
- Contribution amounts are subject to an annual limit. Unused contribution room from previous years can be carried forward. Check your contribution room on the Canada.ca website.
- Contributions reduce your taxable income for the period for which you contribute.
How to open an account
For existing customers
You can use online banking to open your account.
For new customers
Start your online application to open an account.
Take a look at other products
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Learn more
Account FAQs
Account Fees
Account Forms
Account Terms & Conditions
1 These rates are provided for information purposes only and are subject to change without notice. However, once you’ve purchased your GIC, your rate is guaranteed. Certificates are non-redeemable prior to maturity.
Interest is calculated daily and accrues for the entire GIC term. For GICs that have a term of:
- 1 year or less: interest is paid at maturity.
- 15 months: interest compounds annually and is paid at maturity.
- 2 years or more: you can choose to have interest paid on the anniversary date or compound annually and be paid at maturity.
2 Peoples Trust is a trade name of Peoples Trust Company and Peoples Bank is a trade name of Peoples Bank of Canada. Peoples Trust Company and Peoples Bank of Canada are each members of the Canada Deposit Insurance Corporation (CDIC). Eligible deposits held in each entity are protected separately for up to $100,000, per insured category, per depositor. Learn more about CDIC coverage.