Step Saver

Sunrise Step Saver

Sunrise Credit Union offers this 5-year tiered interest term deposit

Minimum deposit of $1000
Minimum deposit for Youth/HeadStart is $100

Investment Options
• 5 years
• Starting July 01, 2018 – eligible for use with TFSA, RSP, RIF, LIRA and LIF
 
Features
• Fully redeemable
• If redeemed prior to the first anniversary, no interest will be paid
• Interest rate is guaranteed for each of the 5 years

Interest
• Interest is paid in accordance to current rate sheet
• Interest is paid annually to member account or compounded

Example of Interest calculations:
Year 1 - 2.60%
Year 2 - 3.00%
Year 3 - 3.15%
Year 4 - 3.50%
Year 5 - 5.00%

Approximate Effective rate is 3.45% in this example.

$1000 deposit with compounded interest (example only)
Year 1 @ 2.6%    =  $1026.00
Year 2 @ 3.0%       =  $1056.78
Year 3 @ 3.15%      =  $1090.06
Year 4 @ 3.50%     =  $1128.21
Year 5 @ 5.00%     =  $1184.62        

To view current rates, click here.

Pricing
• No administration fees
 

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