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The RSP Step-Up GIC is a 5-year, RRSP eligible product that provides you with peace of mind because your investment will grow over the life of the term with interest rates that are guaranteed to ‘step-up’ or increase each year. The RSP Step-Up GIC offers flexibility with penalty free redemptions on the 3rd or 4th anniversary date. Your deposit can be redeemed (with no interest) at other times during the term. *Minimum deposit of $500 required. |
Features:
- Deposits are held in Canadian dollars
- Low minimum deposit of $500
- No penalties if redeemed on the 3rd or 4th anniversary dates or on the Maturity Date. No interest paid on redemptions during the 1st and 2nd year.
- Interest is calculated daily. When held until maturity, you will receive the Issue Rate of interest for each applicable year compounded annually, on the anniversary date (or next business day).
- Rates are guaranteed to increase every year (provided you redeem on the 3rd or 4th anniversary date or at maturity)
- Secure investment to add to your portfolio
- Auto-renewal at maturity is not available
RSP Step-up GIC
Updated 2012-01-05
| Year | Issue Rate | Redemption Rate |
| Year 1 | 0.90% | 0.00% |
| Year 2 | 1.10% | 0.00% |
| Year 3 | 2.00% | 2.00% |
| Year 4 | 2.50% | 2.50% |
| Year 5 | 5.10% | 5.10% |
| 5 Year yield | 2.32% | - |
| $500 minimum deposit. No penalties if redeemed on the 3rd or 4th anniversary dates or on the Maturity Date. No interest paid on redemptions during the 1st and 2nd year. Interest is calculated daily. When held until maturity, you will receive the Issue Rate of interest for each applicable year compounded annually, on the anniversary date (or next business day). |
| Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. |
