Products & Rates

Registered Retirement Income Funds (RRIFs)

You can convert your registered savings into RRIFs at any time. However, if you’re turning 71 at the end of the calendar year and you’ve been saving your money in RRSPs, pension funds, or other registered plans, you are required to convert those registered savings by the end of the year. Outlook’s Cashable RRIF GIC and RRIF High Interest Savings products can help you make the transition.

Open a RRIF Plan | Purchase another RRIF GIC | Transfer in an existing RRIF

Why choose an Outlook RRIF?

At Outlook, you can transfer your registered savings into either our Cashable RRIF GICs or our flexible RRIF High-Interest Savings Accounts. And, when you set up your income requirements, your RRIF payment is automatically taken out of your lowest interest-bearing RRIF account and transferred into our regular High-Interest Savings Account for easy access by cheque or ATM. If you don’t need the money immediately, it still earns interest that’s calculated daily and paid monthly.

RRIF Cashable GICs
  • Be worry-free with both your RRIF deposit and interest 100% guaranteed without limit.
  • Choose from 1 to 5 year Guaranteed Investment Certificates with Outlook’s great rates – higher than most conventional financial institutions.
  • You can withdraw from your RRIF GIC at any time, subject to withholding tax, so you’re secure in knowing you have the money if you really need it. The minimum withdrawal amount is $1000. You must maintain a minimum balance of $1000, or you have the option to cash your entire RRIF GIC at the early withdrawal rate. Withdrawals from RRIF Cashable GICs made prior to the maturity date will earn the early-withdrawal interest rate on the funds withdrawn, calculated back to the date of deposit.
  • Choose to reinvest your compound interest back into your RRIF GIC, or pay it annually to your RRIF High-Interest Savings Account.
  • Minimum deposit is only $1,000.
RRIF High-Interest Savings Accounts
  • Be worry free with both your RRIF deposit and interest 100% guaranteed without limit.
  • Maintain maximum flexibility. With the High-Interest Savings Account, your money is always available to you.
  • Benefit from competitive rates which are consistently higher than most conventional financial institutions.
  • Get interest that’s calculated daily and paid monthly back into your savings account.
  • No maintenance fees, and no minimum balance.

Information about your RRIF is available any time through Online Banking and Telephone Banking, and through e-statements which are produced twice yearly in January and July.

For more information about Outlook RRIFs, contact us.

Open a RRIF Plan | Purchase another RRIF GIC | Transfer in an existing RRIF

 

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Rates effective
Dec 30, 2016

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  • 1.70% Savings Accounts
  • 1.85% 1 Year Cashable GIC
  • 1.95% 2 Year Cashable GIC
  • 2.05% 3 Year Cashable GIC
  • 2.20% 4 Year Cashable GIC
  • 2.35% 5 Year Cashable GIC
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Our deposits are 100% guaranteed

All your Outlook Financial deposits and interest are 100% guaranteed without limit, no matter where you live. Read more…