Term Deposits

Are you looking to make more guaranteed money, but do not need it right away? Then make the smart choice by investing your money in a term deposit. Term deposits pay a higher rate of interest than regular savings and chequing accounts.

While you can take money out of a savings or chequing account at any time, term deposits are non-redeemable, meaning you must wait until it matures before withdrawing your money. In the event of a family emergency, Moya Financial may allow you to redeem your term deposit prior to maturity with an interest penalty. 


Deposit Insurance

As of January 1, 2016, special rules apply to your total insurable deposits with Moya Financial Credit Union exceeding $250,000. This is due to the amalgamation of Krek Slovenian Credit Union and Slovenia Credit Union.

The new rules are as follows:

  • Term deposits remain insured until maturity;
  • Demand deposits (savings and chequing accounts) remain insured until withdrawn;

All deposits in registered savings plans (RRSPs, RIFs, TFSAs) remain fully insured until withdrawn.

Further information on deposit insurance coverage, visit Deposit Insurance Corporation of Ontario (DICO).


Click here for the Redeemable Term Deposit Info Sheet.

Click here for the Non-Redeemable Term Deposit Info Sheet.


If you would like more information or are ready to invest in a Term Deposit, please contact us today!


Call or visit our Main Branch and speak with one of our Wealth Advisors.
Tel: 416 255 1742 | E-mail: main@moyafinancial.ca