The high-interest product to manage your cash flow efficiently!
Your money is redeemable at any time without penalty, which allows you to take advantage of your savings when you need them:
- advantageous interest rate which varies with market conditions
- Interest calculated on the daily closing balance and compounded monthly.
- capital and interest fully guaranteed by the Québec government, with no limit on the amount
- minimal initial deposit of $10
For a concrete way to save, sign up for periodic bank withdrawals or payroll deductions.
|Type of interest:||Compound.|
|Payment of interest:||Monthly capitalization (on the 15th of the month). Accrued interest calculated daily on the day’s balance.|
|Interest rate:||Variable interest rate depending on market conditions, regardless of the amounts accumulated.|
|Minimum purchase amount:||Minimum purchase of $10.|
|Purchase limit:||Maximum amount held of $7 000 000 for general or limited partnerships and legal persons established for a private interest or in the public interest acting on their own account, except in the case of a transfer resulting from a succession.|
|Authorized purchasers:||Persons or groups of persons or of properties, domiciled in Québec and subject to the rules of Québec law (natural persons, general or limited partnerships, legal persons, successions of persons, foundations and personal or social trusts).|
|Redemption:||Total or partial, any time the account holder wants: minimum amount of $10 or balance of the product. A holdback may apply to new amounts received, that is, within 3 business days for any amount of less than $100 and 10 business days for any amount equal to or greater than $100|
|Eligible accounts:||Investment Savings Account, tax‑free savings account (TFSA), registered retirement savings plan (RRSP), registered retirement income fund (RRIF), locked‑in retirement account (LIRA) and life income fund (LIF).|
|Assignment and transfer:||The units are assignable and transferable only under the conditions and in the cases provided for in the Regulation respecting savings products (CQLR, chapter A-6.001, r. 9), in particular in the event of divorce or death of the participant.|
|Hypothec:||Allowed in favour of financial institutions if the units are held in an Investment Savings Account or TFSA.|