Savings Rates | RRIFs: 1 to 6 years
|Financial Institution||Type||Compound Frequency||Payment Frequency||Redeemable||Min. Deposit||Term in Years|
|Sun Life - Insurance||LD||Annually||Annually||yes||5,000||0.600||0.600||0.650||1.050||1.350||1.350|
|Sun Life - Trust||LD||Annually||Annually||no||5,000||0.900||1.100||1.150||1.350||1.600||1.600|
|Sun Life - Trust||LD||Annually||Annually||yes||5,000||0.600||0.600||0.650||1.050||1.350||1.350|
|TD Canada Trust||LD||Not compounded||Annually||no||500||0.850||0.900||1.000||1.050||1.500||-|
|TD Canada Trust||LD||Annually||At maturity||no||500||0.850||0.900||1.000||1.050||1.500||-|
|WFCU Credit Union||LD||Annually||At maturity||no||500||0.850||0.950||1.050||1.150||1.400||-|
Type - LD indicates a long-term deposit, GT indicates a guaranteed deposit.
A registered retirement income fund (RRIF) is purchased with the proceeds of a registered retirement savings plan (RRSP). RRIFs are interest accruing investment products that provide a minimum periodic income for a predetermined period of time or until all funds are depleted. Due to the product's flexibility, the investor can, in certain cases, request a withdrawal of any amount provided a withdrawal minimum is met on an annual basis. This product is registered for tax purposes, so interest accumulations are not taxed until withdrawn.
Prepared by Cannex on August 27, 2016
This information is current as of the date and time posted and is subject to change without notice.
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