RRSP and RRIF Terms

 RRSP & RRIF Terms

Our RRSP and RRIF terms offer you long-term savings that will help you get on the road to retirement quicker and make retirement that much sweeter! You have the option to invest in one to five-year terms* (or the occasional term special!) that offer our highest interest rates. Once you lock your money in, you can sit back and watch your retirement date grow closer!

  • 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.
  • Interest calculated and compounded annually.
  • $1,000 minimum balance required.
  • Two-year to five-year terms non-redeemable.
  • One-year terms redeemable quarterly.

*RRIFs are not eligible for one year terms.

Early Redemption

Any RRSP or RRIF term deposits you purchase after January 15, 2016 are not eligible for early redemption. If you purchased a term prior to then, you can still redeem those deposits prior to their maturity dates! This change won’t affect our one-year quarterly term deposits, so you’re still be able to redeem quarterly with full interest.

Here are the reduced interest rates for early redemption for terms purchased prior to January 15, 2016:

  • Within the first 12 months: 0%.
  • Any time after 12 months (term deposits purchased between May 24, 2012 – January 15, 2016): 1.00%.

If you’re redeeming early, Hubert will adjust the interest accordingly to reflect to the reduced interest rate.

If you do think you may need your funds prior to your term maturing (say you’re on the brink of retiring?), consider a variable rate RRSP. You’ll still earn a great interest rate and save on your taxes, but your funds won’t be locked in.

If you are interested in transferring an existing RRSP to Hubert from another financial institution, please complete the RRSP / RRIF transfer form and send it to us.