RRSP/RRIF convertible term deposits

Parking that pays you instead.

Vancity deposits help support

Electrification of transport, homes and businesses.

Time Horizon

1 year


Low risk, guaranteed return

Options for


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Show me the goods.

This term deposit is great for:
Meeting your RRSP contribution or RRIF withdrawal deadlines while earning higher returns than a savings account.

How it works:
Park your money in this deposit and earn a competitive interest rate while you decide when and how to invest your funds further. At any time, switch your investment for free to another term deposit or investment product offered by Vancity.

The term deposit will automatically renew at maturity unless specified otherwise.

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Earning interest.

You'll earn simple interest at maturity or at conversion. The interest gets reinvested with your principle if you renew the term deposit or goes into the new investment when you convert.

Length of deposit

Minimum balance

12 months


Deposits are 100% guaranteed by CUDIC
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Ask the pros.

Our pros with some advice on this term deposit.

When should I use a convertible term deposit?

The convertible term-deposit is meant to be a place to temporarily put money that you plan to invest so you can meet RRSP or RRIF deadlines. If there’s time before your deadline, talk to our investment pros to get the most out of your savings.

What if I want to invest longer?

Mutual funds* introduce risk but could potentially earn more than term deposits if you're investing longer than 5 years. The best portfolios include a mix of investments so you can get potentially higher returns and the access you need. Let's chat! Our professional advice is always free.

How do I withdraw from my term deposit?

To withdraw from a term deposit, please call us, visit a branch or send us a secure message in Online Banking with your request.

Term deposits have different conditions around withdrawing before maturity which will affect the interest you earn.

Non-redeemable term deposits cannot be withdrawn before maturity.

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Let's get saving.


Members can open non-registered term deposits or add a term deposit to an existing TFSA, RRSP, FHSA, RRIF or RDSP in Account Services.

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New to vancity or opening a new TFSA, RRSP, FHSA, RRIF or other registered account? Let's chat.

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