Standard Term Deposit/GIC

Term deposits (also known as GIC’s), are an excellent product to add to your investment mix. 

At Mainstreet we offer term deposits which allow you to set money aside in savings for as little as 1 year to as long as 5 years - or somewhere in between- depending on your savings goals.

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA)

Standard Term Deposit/GIC Features:

  • A rate of interest guaranteed for the investment period you have chosen.
  • Term Deposit rates of return are usually higher than a standard savings account.
  • A choice between cashable (open) or non-cashable (locked-in) term products.
  • Interest is calculated on the closing daily balance and may be paid monthly, quarterly, annually, or at maturity depending on the product chosen.

Index Linked Term Deposit

An index-linked term deposit protects your investment from any losses. while offering you the potential to earn higher returns linked to stock market performance.

This investment type is great for investors who want to minimize risk while enjoying the potential for higher-performance returns, as well as diversify their investment portfolio.

Features of Index-linked Term Deposits:

  • Like the safety and security of term deposits, index-linked term deposits guarantee you will not lose the funds you invest; however, unlike other term deposits, there is no guaranteed return on this product. Depending on the performance of the stocks comprising the S&P/TSX 60 Index over the term, it is possible that, at maturity, you the investor will receive only your principal invested amount back.
  • Enjoy the potential for higher returns based on stock market performance
  • No fees
  • Low minimum investment. Start with as little as $1,000.
  • Eligible in different product types: Non-registered, TFSA, RRSP
  • Deposits are 100% guaranteed
  • Non-redeemable prior to maturity
  • Available in 3-year or 5-year term lengths

Tracking Performance of Index Linked Term Deposits – Returns to Date

3 year Index Linked 
5 year Index Linked

*Ask your Mainstreet Financial Advisor for a copy of the current Index Linked Term Sheet which explains all of the required information pertaining to the current series of Index-Linked Investments.

Reverse Term Deposit

A reverse term deposit is a 5-year term deposit that allows scheduled withdrawals to a chequing or savings account. The minimum deposit is $50,000 with a minimum annual withdrawal limit totaling 10% based on the initial principal balance.

Members without pension income who would benefit from an additional source of income from investment funds while continuing to have their funds earn interest.


  • Requires minimum initial deposit of $50,000
  • Only available in 5-year term
  • Interest rate based on 5-Year regular term rate
  • Minimum annual withdrawal limit of 10% of initial principal balance

What's the difference between a cashable term deposit and a reverse term deposit?

Unlike a cashable term deposit, in which a member can make a withdrawal at any time for any amount, a reverse term deposit requires the member to schedule specific payments at regular intervals to make their withdrawals. These payments can be scheduled monthly, quarterly, semi-annually, or annually. Additionally, a reverse term deposit is not eligible for RSP's, RRIF's, or TFSA's.

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