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Rates

All rates are provided for information purposes only and are subject to change without notice. Terms and conditions may apply.

Personal Account Rates

No-fee Chequing Account 0.00%
Savings Account 1.40%
Daily Interest Savings Account 0.15%
Youth Savings Account 1.40%
US Dollar Account 0.01%
RRSP/RRIF (Variable) 1.40%
TFSA (Variable) 1.40%

 

Business Account Rates

Business Chequing Account 0.00%
Business Savings Account 1.40%

Term Deposits (Non-redeemable)

1-Year 4.30%
1-Year Promotional Rate 5.15%¹
2-Year 4.10%
3-Year 4.00%
4-Year 4.00%
5-Year 4.00%

 

Term Deposits (Redeemable)²

1-Year 2.80%
1-Year Promotional Rate 3.75%¹

 

Growing Rate Term Deposit (Non-redeemable)³

1-Year 3.85%
2-Year 4.00%
3-Year 4.00%
4-Year 4.40%
5-Year 5.00%
Effective Yield 4.25%

 

Growing Rate Term Deposit (Redeemable)4

1-Year 2.00%
2-Year 2.50%
3-Year 3.00%
4-Year 4.50%
5-Year 5.00%
Effective Yield 3.40%

 

¹Rate available on new funds transferred from another financial institution.
2Only available for non-registered products.
3Not redeemable before maturity, but with an option to redeem on 3-year anniversary. Not available for RRIF products.
4Option to redeem every year on the deposit anniversary.

Moya Prime Rate

6.70%

 

Residential Mortgage Rates

1-Year (Open, starting at) 6.55%
5-Year (Open, starting at) 6.55%
1-Year (Closed, starting at) 5.80%
2-Year (Closed, starting at) 5.85%
3-Year (Closed, starting at) 5.90%
4-Year (Closed, starting at) 5.95%
5-Year (Closed, starting at) 6.00%

 

Variable Mortgage Products

Variable Rate (Open, starting at) Prime + 0.55%
Variable Rate (Closed, starting at) Prime + 0.25%
Construction Mortgage (starting at) Prime + 3.30%

 

Commercial Loans

Commercial Loans (starting at) 6.80%

 

Personal Loans

Student Financing (starting at) Prime + 1.00%
Overdraft Protection 19.50%
Unauthorized Overdrafts 24.50%
Line of Credit (Secured, starting at) Prime + 1.00%
Line of Credit (Unsecured, starting at) Prime + 3.25%
Personal Loans (starting at) Prime + 3.25%
Vehicle Financing (Variable, starting at) Prime + 1.00%
Bridge Loan (starting at) Prime + 2.30%
MeritLine (HELOC) (starting at) Prime + 1.00%

PERSONAL ACCOUNTS

Savings Account

FREQUENCY DISTRIBUTION RATIO INDICATIVE RATE
Monthly Returns 30% 1.00%

 

TERM DEPOSITS

Non-Redeemable

FREQUENCY DISTRIBUTION RATIO INDICATIVE RATE
1-Year 87% 2.90%
3-Year 80% 2.65%
5-Year 80% 2.65%

 

Non-Redeemable (New Money)

FREQUENCY DISTRIBUTION RATIO INDICATIVE RATE
1-Year 96% 3.20%¹
3-Year 90% 3.00%¹
5-Year 90% 3.00%¹

 

Redeemable³

FREQUENCY DISTRIBUTION RATIO INDICATIVE RATE
1-Year 68% 2.25%

 

Growing Rate (Non-Redeemable)²

FREQUENCY DISTRIBUTION RATIO INDICATIVE RATE
1-Year 87% 2.90%
2-Year 90% 3.00%
3-Year 95% 3.15%
4-Year 113% 3.75%
5-Year 120% 4.00%
EFFECTIVE AVERAGE YIELD = 3.36%

 

Growing Rate (Non-Redeemable) (New Money)²

FREQUENCY DISTRIBUTION RATIO INDICATIVE RATE
1-Year 93% 3.20%¹
2-Year 111% 3.70%¹
3-Year 113% 3.75%¹
4-Year 114% 3.80%¹
5-Year 127% 4.20%¹
EFFECTIVE AVERAGE YIELD = 3.73%

 

Please note that the Shariah Compliant Mortgage Portfolio yield and indicative rate may change from time to time.
1Rate available on new funds transferred from another financial institution.
2Not redeemable before maturity, but with an option to redeem on 3-year anniversary.
3Not redeemable before maturity, but with an option to redeem after 90 days.

LAST UPDATED: MARCH 10, 2023

RATES LAST UPDATED: MARCH 29, 2023

SERVICE SUPPORT RATES

Sometimes your needs don’t match our standard product and service offerings. If that’s the case, you’re sure to find the right fit when you explore our Service Support Rates for additional options and rates.

SHOULD YOU INVEST DURING A RECESSION?

Between rising interest rates, a slightly rocky housing market, and some weak economic indicators south of the border, Canada could be at risk of entering a recession in the not-too distant future, according to some financial forecasters.

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