FirstOntario Investment Savings Account
The FirstOntario Investment Savings Account is a true savings account.
It is not designed for everyday transactions. It is an account designed
for Members holding larger balances. It's the perfect account to save
for a car or your first home.
FirstOntario Investment Savings Account is now IMPROVED
and still has a number of great features including:
FirstOntario Investment Savings is meant to separate savings from
everyday banking. It is meant for saving and/or investing. It is not
meant for frequent use.
FirstOntario Investment Savings Account vs. a Term Deposit
Do you sometimes wonder whether you should put your money in a term
deposit or a savings account? Here is a brief comparison between the
two products.
| FirstOntario Investment Savings Account |
Term Deposit |
Funds accessible at any time.
This is great if you are not sure when you will need the money. |
With non-cashable terms, funds must be held until maturity.
This is great if you prefer "out of sight, out of mind" for
your savings.
With cashable terms, the interest rate is generally lower. |
| Withdraw just the amount of funds you need, as you need them. |
Generally, the full amount of funds are unavailable until maturity
date. |
| Better interest rate than term deposit. |
Good interest rate. |
| Ability to access funds via branch, ATM, Internet and Telephone
banking. |
With non-cashable terms, funds must be held until maturity. |
Fully insured.*
|
Fully insured.* |
*coverage up to $100,000 under DICO.
Full Details and Pricing
Click here for current
interest rates.
Pricing Effective October 1, 2007
*Interest is paid monthly at the rates per annum.
| FirstOntario Investment Savings |
| Interest Paid |
Daily closing balance, paid monthly |
| Interest Tiers |
One interest rate; paid right from the first penny |
| Cheques |
No cheques
No cheque return |
Debit
POS (Point of Sale), Direct Debit, ATM or In-Branch Withdrawal,
Bill Payment, Internet & Telephone Debits and Pre-Authorized
Payments
|
1 FREE per month, then $5.00 per item after |
In-branch Bill Payment Handling Fee
|
$1.25 |
| ATM - FirstOntario Credit Union |
FREE (plus $5.00 debit charge) |
Interac ATM charges
|
$1.45 (plus $5.00 debit charge) |
ATM - Outside Canada
|
$3.00 (plus $5.00 debit charge) |
| Monthly Account Fee |
No Fee |
| Record Keeping |
Statement only |