Step Term Deposits

About our Step Term Deposit

A Step Term Deposit is an excellent investment alternative in times of low interest rates, as you are assured that each year your interest will increase. As with all our term deposits, the principal and return is guaranteed and it qualifies for deposit insurance protection.

Premium 3-Year Term Deposit Expand/Collapse

  • Minimum $1,000 investment 
  • 3 year term with rates that increase each year
  • Non-redeemable
  • Convertible to 4 or 5 year term anytime
  • RRSP, RRIF and TFSA eligible

5-Year Step Term Deposit Expand/Collapse

  • Minimum $1,000 investment 
  • 5 year term with rates that increase each year
  • Fully or partially cashable on each anniversary date (some conditions apply)
  • RRSP, RRIF and TFSA eligible

Get started now

For more details on a Step Term Deposit, contact us or call our Member Solutions Centre at 1.800.598.2891.


Deposits insured by the Deposit Insurance Corporation of Ontario.  Deposits in registered plans are fully insured.  Other Canadian dollar deposits insured up to $250,000.  For further information on deposit insurance, please ask for a brochure; call DICO at 1.800.268.6653 or log on to the website at www.dico.com.
 

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3 Year Premium STEP Term Deposit
Year 1 2.25%
Year 2 2.50%
Year 3 4.00%
Effective Yield 2.91%
5 Year STEP Term Deposit
Year 1 2.25%
Year 2 2.50%
Year 3 2.75%
Year 4 3.00%
Year 5 5.00%
Effective Yield 3.09%