Guaranteed Investments

Term Deposits are fixed investments that offer a guaranteed rate of return.  For many people, secure and guaranteed products such as term deposits play an important part of their investment portfolio. 

At FirstOntario we offer a wide variety of investments and services:

Types of Term Deposits

Short term:

• Non-registered, RRSP and RRIF Eligible
• 30 to 364 day short-term deposits with interest paid at maturity
• Minimum investment of $2,500 for redeemable deposit
• Minimum investment of $5,000 for non-redeemable deposit

Long term:

• Non-registered, RRSP and RRIF Eligible
• 1 to 5 year long term deposits with interest compounded annually
• Minimum investment of $1,000 for redeemable and non-redeemable deposit ($500 minimum for RRSPs)
• Special term deposits at special rates

Cashable:

• Non-registered, RRSP and RRIF Eligible
• 1 year term with interest paid at maturity
• Minimum investment of $1,000 ($500 minimum for RRSPs)

Investment Savings Account

A higher interest savings account meant to be separate savings from everyday banking. Not designed for everyday transactions but for Members holding larger balances.

• Interest is calculated on the minimum monthly balance, paid monthly
• Our best interest rate on a savings account with no minimum balance required
• 1 free debit per month (with any balance)

Variable Rate Savings

The flexibility of short-term savings with the ability to access your money at any time.

• Interest is calculated on minimum daily balance, compounded semi-annually
• Ideal for simplifying your life by making automatic weekly, bi-weekly or monthly investments

 

Cashable Accelerator

This 2-yerm term deposit offers you an opportunity to withdraw your funds on the anniversary date. It is ideal for the investor who is unsure of the rate environment and wants the flexibility to withdraw after one-year.

• RRSP/RRIF eligible
• Convertible on the 1st anniversary date to another deposit product
• Cashable on the 1st anniversary date

Accelerator

The Accelerator term deposit offers a higher interest rate each year of the 5-year term. It offers a better rate of return and the flexibility to access your money if you need to.

• RRSP and RRIF eligible
• 5-year term
• Minimum investment of $500
• Ability to withdraw 20% of principal once a year on the anniversary date
• Convertible on the 3rd and 4th anniversary to a regular term deposit for the remaining term or longer

Premium Choice Investment Certificate

The PCIC provides an attractive rate and allows you the flexibility to access your money at any time. Only available at certain times throughout the year. Talk to your branch today.

• RRSP and RRIF Eligible
• 1 year term with interest paid at maturity
• Minimum investment of $1000 for non-RRSP and RRSP
• Flexibility to transfer to another product at any time
  

Pre-Authorized Contribution

Most experts agree that the "pay yourself first... before you have to pay everyone else" plan is very important to wealth accumulation. It's a great way to save for a home, retirement or any financial goal.

• Contribute automatically - weekly, bi-weekly or monthly - from your savings or chequing
• Another way to save
• Contribute as little as $25 per month or $10 weekly - a little adds up to a lot

Example:

Start investing at age	30	40	50
Years to save	35	25	15
Total value of investment ($100/month)	$113,609	$59,551	$26,729

At $100 per month, deposited for 35 years and having an annual compounded rate of return of 5%, your investment will grow to $113,609.