Choose Alberta RRSP - Prime Rate

Earn a guaranteed 2.55%1 interest rate plus a potential one-time bonus that’s tied to the Alberta economy.

Interest rate

Guaranteed + Bonus

Offline Purchase Instructions

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Details

Overview

The Choose Alberta RRSP is a unique 27-month non-redeemable Guaranteed Investment Certificate (GIC) in a Registered Retirement Savings Plan (RRSP) that provides tax deferral advantages while saving for your retirement.

The full amount of your original investment amount (the principal) and the interest you earn are fully guaranteed, with possibility of a one-time bonus tied to the Bank of Canada Prime Rate upon maturity.

You are eligible to contribute to an RRSP if you are currently working in Canada and you are under the age of 71, have contribution room and, file income tax with the Canadian government.

Here's how it works:

  1. Deposit at least $500.
  2. Earn interest, calculated annually, for the 27-month term.
  3. On the 15th day of the month before your GIC matures, we'll pull the Bank of Canada Prime Rate published here and use that to calculate your specified bonus rate.
  4. When your term is up receive your guaranteed rate of return. Your one-time bonus will be paid out within 30 days of your investment maturing.

 

Click here to see the bonus rates and view a payment example >

Pricing

  • Interest earned
    Guaranteed 2.55%1 (calculated annually) + One-time bonus
    Click here for bonus details
  • Fees
    No fees, but if you redeem early, a penalty may apply and you will not receive the one-time bonus
  • Term Range
    27 months
  • Minimum Balance
    $500
  • Cashability
    Non-cashable during term of the investment. Only redeemable in the event of death.
  • Investment Plan
    An RRSP is one of the best ways to save for retirement and save on taxes at the same time. An RRSP is a government-approved account specially designed to help you save money for your retirement. There is a limit to how much you can invest each year, and that limit—called an RRSP contribution limit—is based on your income.

Additional Information

  • Other features

    Unique one-time bonus based on Bank of Canada Prime Rate.

    Any contribution you make (up to your annual limit) is tax deductible, offering you immediate tax savings.

    Your contribution room never expires, so you can carry it forward.

    You can put part or all of your RRSP contributions into a plan in your spouse's or common-law partner's name.

    The interest you earn on your contributions stays in your RRSP. You don't pay tax on it until you take it out of the plan. Even though you can withdraw RRSP money whenever you like, the idea is to keep your money in the plan until you retire. Usually withdrawals are treated as income, which means you'll pay tax on the money when you withdraw it.

    In the year you turn 71, your RRSP matures. Don't worry about getting a big tax bill. You have a number of retirement income options that allow your retirement savings to continue to grow in a tax-sheltered environment. Only payments to you from your plan are immediately taxed. So you can spread the tax on withdrawals over your retirement years.

  • Additional Options
    Also available non-registered or TFSA
  • Notes
    1 - Annual interest rate effective as of October 16, 2018. Rate subject to change without notice. Visit atb.com/rates or any ATB branch for current rates. Choose Alberta GICs are subject to availability. ATB Financial reserves the right to withdraw this offer at any time.

Details

Overview

The Choose Alberta RRSP is a unique 27-month non-redeemable Guaranteed Investment Certificate (GIC) in a Registered Retirement Savings Plan (RRSP) that provides tax deferral advantages while saving for your retirement.

The full amount of your original investment amount (the principal) and the interest you earn are fully guaranteed, with possibility of a one-time bonus tied to the Bank of Canada Prime Rate upon maturity.

You are eligible to contribute to an RRSP if you are currently working in Canada and you are under the age of 71, have contribution room and, file income tax with the Canadian government.

Here's how it works:

  1. Deposit at least $500.
  2. Earn interest, calculated annually, for the 27-month term.
  3. On the 15th day of the month before your GIC matures, we'll pull the Bank of Canada Prime Rate published here and use that to calculate your specified bonus rate.
  4. When your term is up receive your guaranteed rate of return. Your one-time bonus will be paid out within 30 days of your investment maturing.

 

Click here to see the bonus rates and view a payment example >

Pricing

  • Interest earned
    Guaranteed 2.55%1 (calculated annually) + One-time bonus
    Click here for bonus details
  • Fees
    No fees, but if you redeem early, a penalty may apply and you will not receive the one-time bonus
  • Term Range
    27 months
  • Minimum Balance
    $500
  • Cashability
    Non-cashable during term of the investment. Only redeemable in the event of death.
  • Investment Plan
    An RRSP is one of the best ways to save for retirement and save on taxes at the same time. An RRSP is a government-approved account specially designed to help you save money for your retirement. There is a limit to how much you can invest each year, and that limit—called an RRSP contribution limit—is based on your income.

Additional Information

  • Other features

    Unique one-time bonus based on Bank of Canada Prime Rate.

    Any contribution you make (up to your annual limit) is tax deductible, offering you immediate tax savings.

    Your contribution room never expires, so you can carry it forward.

    You can put part or all of your RRSP contributions into a plan in your spouse's or common-law partner's name.

    The interest you earn on your contributions stays in your RRSP. You don't pay tax on it until you take it out of the plan. Even though you can withdraw RRSP money whenever you like, the idea is to keep your money in the plan until you retire. Usually withdrawals are treated as income, which means you'll pay tax on the money when you withdraw it.

    In the year you turn 71, your RRSP matures. Don't worry about getting a big tax bill. You have a number of retirement income options that allow your retirement savings to continue to grow in a tax-sheltered environment. Only payments to you from your plan are immediately taxed. So you can spread the tax on withdrawals over your retirement years.

  • Additional Options
    Also available non-registered or TFSA
  • Notes
    1 - Annual interest rate effective as of October 16, 2018. Rate subject to change without notice. Visit atb.com/rates or any ATB branch for current rates. Choose Alberta GICs are subject to availability. ATB Financial reserves the right to withdraw this offer at any time.
  • Contact Us
  • 1-844-642-7940
  • Monday - Friday 9am - 6pm
  • Saturday 9am - 5pm

Important Information

Interest rate

Guaranteed + Bonus

Offline Purchase Instructions

You May Also Like

  • Contact Us
  • 1-844-642-7940
  • Monday - Friday 9am - 6pm
  • Saturday 9am - 5pm