• A minimum deposit of $500 is required ($100 minimum deposit for YouthSavers or trust accounts).
• 1 - 5 Year Term Deposits are non-redeemable.
• Interest will be paid annually to your deposit account of choice.
• Additional interest payment options are available to suit your budget upon request - semi-annual (.125% less) and monthly (minimum $5,000 deposit, .25% less).
• If you prefer to reinvest the interest earned on your deposit rather than take the payment, interest can automatically compound annually.
• It's easy to keep track - your regular statement of account indicates your principal investment, the interest rate, term, maturity date and date of next interest payment. Details are also accessible at anytime through online banking.

• A minimum deposit of $500 is required ($100 minimum for YouthSavers trust accounts).
• Monthly interest payments (at .25% less) are available for minimum deposits of $5,000.

Cashable as follows:

• 0 - 90 days – no interest paid.
• 91 - 364 days - No penalty; interest will be paid for the number of days on deposit at the full interest rate in effect on the date of the deposit. At maturity, it will renew once again as a cashable one year term deposit.

It makes good dollars and sense to set up a payroll deduction or automatic transfer to deposit into a PayDay Term Deposit that allows you to systematically build your savings over time. Many members enjoy the convenience of painlessly saving by having a set amount deducted right from their pay cheque. They also appreciate the discipline of a term deposit product with minimal (but some) restrictions on access.

Features

• Minimum $1,000 commitment (savings goal)1 year term
• Purchase of the term deposit is paid for through payroll deduction/AFT or automatic funds transfer from a Tandia account
• Interest is calculated on the daily balance and paid at maturity
• Cashable any time after 90 days with full interest
• At maturity, your PayDay Term Deposit will rollover to a Cashable 1 Year Term Deposit.

Round up and save

A nice complement to a PayDay Savings Program is Round Up and Save – linked to your Tandia debit card, all of your purchases using debit will be rounded up to the nearest dollar and deposited into a Tiered Interest Savings Account. Why not save as much as you can without feeling the pinch?

Get started now

The process is easy. Choose a goal of how much you’d like to save over a one year period (minimum $1,000) and then divide it by the number of pays you have for that time frame. Call us with this PayDay savings amount and the date you’d like to start and then, watch it grow!

• A minimum deposit of $1,000 is required and it is non-redeemable.
• Short Term Deposits are non-redeemable.

About our Index Linked Term Deposits

An Index Linked Term Deposit presents a safe way to participate in Canadian Equity markets, with a return based on the average growth of the major market indices. Your principal is guaranteed, yet you can benefit from the potential for a higher return.

Features

• Minimum $500, non-redeemable
• No commissions, management or administration fees
• Index Linked Term Deposits are RRSP and TFSA eligible
• At Tandia Financial Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority
• Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA)

​3-year Index-Linked Term Deposits (ILTD) Performance

5-year Index-Linked Term Deposits (ILTD) Performance

About our Step Term Deposit

A Step Term Deposit is an excellent investment alternative in times of low interest rates, as you are assured that each year your interest will increase. As with all our term deposits, the principal and return is guaranteed and it qualifies for deposit insurance protection.

Premium 3-Year Term Deposit

• Minimum $1,000 investment 
• 3 year term with rates that increase each year
• Non-redeemable
• Convertible to 4 or 5 year term anytime
• RRSP, RRIF and TFSA eligible

5-Year Step Term Deposit

• Minimum $1,000 investment 
• 5 year term with rates that increase each year
• Fully or partially cashable on each anniversary date (some conditions apply)
• RRSP, RRIF and TFSA eligible