Products & Rates

Why RRIFs?

When you convert your RRSP into a RRIF, your investment continues to earn interest tax-free, and your only taxable portion is the amount you take out of the RRIF as income. There’s a minimum annual withdrawal amount specified in Canada Revenue Agency legislation, but you also have the flexibility to take out more if you need it.

The minimum amount of money you must withdraw each year is determined by a schedule based on your age or the age of your spouse. The latest you are allowed to take your first payment is December 31st in the year you turn 72. That payment must be at least the full annual minimum amount for that year.

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Rates effective
Aug 5, 2020

  • 1.50% Savings
  • 1.70% 1 Year Term
  • 1.75% 2 Year Term
  • 1.85% 3 Year Term
  • 1.95% 4 Year Term
  • 2.10% 5 Year Term
View all rates