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RRSP Rates - Redeemable


Financial Institution Minimum Deposit One Year Two Years Three Years Four Years Five Years Six Years
ATB Financial 500.000 1.800 2.050 2.300 2.500 2.750 N/A
BMO Bank of Montreal 500.000 2.100 2.300 2.550 2.750 2.850 N/A
CIBC 500.000 1.800 2.050 2.300 N/A N/A N/A
Canada Life 1000.000 2.375 2.750 3.125 3.250 3.250 3.375
Desjardins Fin. Security 500.000 2.600 2.900 3.100 3.250 3.350 N/A
Empire Life 500.000 2.375 2.500 2.750 3.125 3.250 3.375
Equitable Life 500.000 2.150 2.200 2.550 2.600 3.150 N/A
Great-West Life 500.000 2.250 2.500 2.875 3.000 3.000 2.750
ICICI Bank Canada 1000.000 3.900 3.950 4.000 4.400 4.500 N/A
ING Direct 1.000 3.250 3.300 3.500 3.750 4.000 N/A
Key Savings + Credit U. 500.000 2.050 2.300 2.550 2.750 3.000 N/A
Laurentian Bank Canada 500.000 1.850 2.100 2.350 2.650 2.900 N/A
London Life 1000.000 2.375 2.750 3.125 3.250 3.250 N/A
Manulife Investments 5000.000 3.100 3.150 3.650 3.750 3.850 3.850
Meridian Credit Union 500.000 1.950 2.300 2.450 2.650 2.900 N/A
National Bank 500.000 1.600 1.850 2.100 2.400 2.650 N/A
SLF Trust 1000.000 2.550 2.700 2.950 3.000 3.350 N/A
Standard Life 1000.000 2.600 2.700 2.900 3.050 3.150 3.300
Standard Life Term Plus 25000.000 N/A N/A N/A N/A 4.150 4.300
Sun Life Financial 1000.000 2.550 2.700 2.950 3.000 3.350 N/A
Transamerica Life Canada 1000.000 1.450 1.650 1.950 2.200 2.450 N/A
Your Credit Union 500.000 3.000 N/A N/A N/A N/A N/A

Last Update: 05-12-2008 18:30:02


A Registered Retirement Savings Plan, or RRSP, is a plan that allows a taxpayer to save for her or his retirement on a tax-deferred basis by making tax deductible contributions. Any withdrawals from the plan are taxable. There is a maximum amount which can be contributed to the plan each year based on the prior year's Earned Income and the current year's RRSP dollar limit. Redeemable RRSPs can be cashed in before the end of the term. Do to so, however, the holder of the RRSP must usually pay an interest penalty. Non-redeemable RRSPs cannot be cashed in before their term is up. Interest on these investments is compounded annually and paid at maturity.

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