Evoluterm GIC

Because it offers flexibility and accessibility

Evoluterm offers a great deal of flexibility by providing access to part of your capital each year. Your principal is divided into three or five equal portions, each with a different maturity date (either one, two and three-year terms, or one, two, three, four and five-year terms), which can be automatically re-invested for a three or five-year term.

This GIC is also ideal if you’re looking for a simple, hassle-free way to stagger your investment maturities. Because different parts are renewed at different times, you can take advantage of potential interest rate increases when market rates fluctuate.

 

 

Quick view

NON-REGISTERED


Minimal Investment

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Rate

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Simple interest rates

Compound interest rates

RRSP


Minimal Investment

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Interest

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Rate

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Compound interest rates

Additional information
 

Non-Registered

Interest payment options

Monthly: Calculated and payable on the deposit date ($2,500 minimum investment).
Semi-annually: Calculated and payable on the deposit date ($2,500 minimum investment).
Annual: Calculated and payable on the anniversary date, or compounded annually the anniversary date and payable at maturity. 

N.B.: Only the annual interest payment option is available when an investment is made online.

Access to funds

> Not redeemable during the period of the term for each respective portion.
> Each certificate matures on a different date and that portion of your capital can be used as you wish at that time.
> If you don't need to access your funds, that portion of your funds is automatically reinvested for a three or five-year term.


The interest rates posted are the interest calculated annually. For monthly interest, the rate is reduced by 0.125%. For semi-annual interest, the rate is reduced by 0.05%.

RRSP

Interest payment options

Compounded annually on the anniversary date and payable at maturity.
 

Transferability

Cannot be transferred to an RRIF.
 

Access to funds

> Not redeemable during the period of the term for each respective portion.
> Each certificate matures on a different date and that portion of your capital can be used as you wish at that time.
> If you don't need to access your funds, that portion of your funds is automatically reinvested for a three or five-year term.


Compounded annually on the anniversary date and payable at maturity.

> Authorization to renew at maturity: At maturity, unless otherwise notified by the depositor, the GIC and any renewal thereof will be renewed for the same amount (including accrued and unpaid interest) and for the desired term* at the interest rate in effect at that time. The depositor has 10 business days following the date of issuance of the renewed deposit type instrument to cancel it.

> To know the charges related to a TFSA and RRSP, please consult the brochure to this purpose, being: Fees - Your Guide to Personal Banking Solutions, section "Registered Plans".

National Bank is a member of the Canada Deposit Insurance Corporation (CDIC).


*Equivalent to the initial term, or any other term, available within the product chosen and specified by the depositor.

> To know our process of notification of charge increases or the introduction of new fees, please consult our brochure to this purpose, being: General Information and Agreement, section "Notice of Changes to Fees Listed in Your Guide to Personal Banking Solutions".

> To know our process in dealing with complaints relating to the processing of charges for a product, please click here.

> To contribute, you need a National Bank account. To open an account, please visit one of our branches.

 

 

Find out more 

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RRSPs and taxes

Contributing to an RRSP allows you to reduce the fiscal impact of your investments. First by diminishing the amount owed in taxes for the RRSP contribution year, then by keeping the invested amount sheltered from taxation until retirement.

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RRSP ot TFSA?

RRSPs and TFSAs were designed to meet different objectives. The RRSP is a vehicle to help save for retirement, while the TFSA was created to help save for more short-term projects, like buying a car.

See details

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