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Saturday, November 07, 2009 11:59 AM
 
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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 .200 1.050 1.350 1.450 1.850 N/A
BMO Bank of Montreal 500.000 .200 1.050 1.350 1.450 1.850 N/A
CIBC 500.000 .150 1.050 1.350 N/A N/A N/A
Canada Life 1000.000 .750 1.750 2.400 3.000 3.300 3.500
Desjardins Fin. Security 500.000 .700 1.450 2.100 2.550 2.850 N/A
Empire Life 500.000 .750 1.750 2.375 3.250 3.500 3.500
Equitable Life 500.000 .750 1.500 2.450 3.200 3.700 N/A
Foresters 1000.000 .500 1.300 1.950 2.400 2.800 N/A
Great-West Life 500.000 .750 1.750 2.400 3.000 3.300 3.500
ICICI Bank Canada 1000.000 1.200 1.700 2.400 2.600 3.100 N/A
ING Direct 1.000 1.250 2.250 2.500 2.500 3.250 N/A
Laurentian Bank Canada 500.000 .150 1.050 1.350 1.450 1.850 N/A
London Life 1000.000 .750 1.750 2.400 3.000 3.300 N/A
Manulife Investments 5000.000 .750 1.700 2.300 2.750 3.250 3.300
National Bank 500.000 .150 .950 1.350 1.650 1.850 N/A
Outlook Financial 1000.000 2.100 2.350 2.750 2.950 3.600 N/A
Standard Life 1000.000 .400 1.300 2.000 2.200 2.200 2.225
Standard Life Term Plus 25000.000 N/A N/A N/A N/A 3.200 3.225
Sun Life Financial 1000.000 1.000 1.600 2.200 2.650 3.150 N/A
SunLife Financial Trust 1000.000 1.000 1.600 2.200 2.650 3.150 N/A
Transamerica Life Canada 1000.000 .400 1.250 1.750 2.000 2.450 N/A
Your Credit Union 1000.000 .200 N/A N/A N/A N/A N/A

Last Update: 11-07-2009 11:30:02


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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