Island Savings

Term Deposits - Non-Redeemable

This term deposit investment is for you if:

  • you're looking for a low risk term deposit investment with a guaranteed return.
  • you like having many options to choose from.
  • you like the idea of putting money away for a rainy day.

Overview

Non-Redeemable Options

If you don’t think you will need access to your funds, consider maximizing your returns with the following non-redeemable term deposit options:

  • Short-term Non-Redeemable
  • 90 Day Convertible
  • 1-5 Year Convertible Term Deposits
  • 1-5 Year Easy Money
  • 3-Year Escalator (Convertible)
  • 3 and 5 Year winwin™ Term Deposits
  • Long-term Non-Redeemable

For details on these investment products, click on the "Short Term" or "Long Term" tabs on this page.


Plus, you can rest easy knowing that your deposits are 100% guaranteed.**

Short Term

Product Options

 

Short Term Non-Redeemable

This type of term deposit is ideal if you don’t have immediate plans for your money but want to earn an attractive rate of interest.

Key features & benefits:

  • Available for periods from 30 to 364 days
  • Low minimum deposit ($500 non-registered; $100 juniors) with no maximum limit
  • Interest is paid at maturity of term
  • Choice of maturity options
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia**

 

90-Day Convertible

This convertible term deposit is ideal if you're looking for a flexible short-term investment option.

Key features & benefits:

  • Term length is 90 days
  • Convertible at any time to a non-redeemable product that is of equal length to the remainder of your term, or longer
  • Low minimum deposit ($500 non-registered; $100 juniors) with no maximum limit
  • Interest is paid at maturity of term
  • Choice of maturity options
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia**

Key features & benefits:

  • Term length is 30-364 days
  • Interest is paid at maturity in U.S. funds
  • Low minimum deposit ($500 non-registered; $100 juniors) with no maximum limit

Long Term

Product Options

 

1-5 Year Convertible Term Deposits

This type of term deposit is the best way to maximize your return. The longer you choose to invest, the greater your interest rate.

Key features & benefits:

  • Term length is 1 to 5 years
  • Convertible at any time to a non-redeemable product that is equal length of the remaining term or longer
  • Low minimum deposit ($500 non-registered; $500 registered; $100 juniors) with no maximum limit
  • Interest is paid at maturity of term
  • Choice of maturity options
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia**

 

1-5 Year Easy Money

If you're undecided on a longer term investment, consider this term deposit which provides flexible redemption options and a great rate.

Key features & benefits:

  • Term length is 1 to 5 years
  • Low minimum deposit ($500 non-registered; $500 registered; $100 juniors) with no maximum limit
  • Interest is paid at maturity of term
  • Choice of maturity options
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia**

 

3-Year Escalator (Convertible)

Our convertible 3-Year Escalator term deposit gives you flexible options and a great rate which rises over the three year term, so your savings grow even faster.

Key features & benefits:

  • Term length is 3 years
  • Fully convertible on term anniversary to a non-redeemable product that is of equal length to the remainder of your term, or longer
  • Low minimum deposit ($500 non-registered; $500 registered; $100 juniors) with no maximum limit
  • Interest is paid at maturity of term
  • Choice of maturity options
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia**

 

3 and 5 Year winwin™ Term Deposit

winwin™ is an index-linked term deposit ideal for those seeking higher returns than a traditional term deposit without risking your initial investment in the market.

Key features & benefits:

  • Term length is 3 or 5 years
  • 100% initial investment guaranteed
  • Low minimum deposit ($500 non-registered; $500 registered; $100 juniors) with no maximum limit
  • Minimum guaranteed interest paid annually
  • Choice of maturity options
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia**

How winwin™ term deposit works:

Guaranteed interest is calculated from the purchase date.

Index-related return:
Return is determined by the growth of the index from the opening index to the closing index. Even if the closing index value is lower than the opening index level, you'll still have your entire principal investment paid out at maturity. If the closing index value is higher than the opening index value, the winwin™ term deposit will pay your principal investment plus all index-related returns above the minimum guaranteed return at maturity.

 

Long-term Non-Redeemable

This type of term deposit is the best way to maximize your return. The longer you choose to invest, the greater your interest rate.

Key features & benefits:

  • Term length is 1 to 5 years
  • Low minimum deposit ($500 non-registered; $500 registered; $100 juniors) with no maximum limit
  • Interest is paid at maturity of term
  • Choice of maturity options
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia**

Rates

Our Current Rates*

Non-Redeemable Term Deposits (Rates effective 2016-06-01) Rates
Non-Redeemable Term, 30 to 89 days 0.20%
Non-Redeemable Term, 90 to 179 days 0.20%
Non-Redeemable Term, 180 to 364 days 0.25%
Non-Redeemable Term, 1 year 1.05%
Non-Redeemable Term, 18 months 1.05%
Non-Redeemable Term, 2 year 1.10%
Non-Redeemable Term, 3 year 1.25%
Non-Redeemable Term, 4 year 1.35%
Non-Redeemable Term, 5 year 1.50%

Have a question? Simply contact us and we'll provide you with the information you're looking for.

Online

Let us know if you'd like more information about our term deposits and we'd be happy to send you further details.

In Person

If you're more comfortable coming in to see us, we'd be happy to chat with you about the questions you have.

By Phone

If you’d like to call us, here is a complete list of our branch phone numbers.

 

*Rates are subject to change without notice. Interest rates are per annum. Interest compounds annually. Terms and conditions apply.

**The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all BC credit union deposits. Credit Union equity shares and investments such as mutual funds or RSP equity plans are not covered by deposit insurance.