5 Year Special Redeemable RRSP

Features

  • redeemable after 30 days with no interest penalty
  • interest is paid annually
  • automatically renews for a like term

Benefits

  • funds are accessible at any time
  • principal and earnings grow tax-sheltered
  • RRSP investments result in Income Tax savings
  • eligible for Personal or Spousal RRSP contribution
  • anyone with earned income subject to Canadian taxation, including non-residents, may contribute

Restrictions

  • minimum deposit of $500.00
  • if redeemed prior to 30 days, no interest is paid
  • when you withdraw money from your RRSP, government regulations require tax to be withheld
  • at the end of the calendar year in which you reach the age of 71 you must purchase a Retirement Income Option or withdraw your RRSP funds

Notes