Term Deposits

Preparing for a significant investment? Rest assured, term deposits are a proven and reliable method to earn a fixed return on your savings. Whether you're planning for a new car, a house, or that dream vacation you've always imagined, term deposits can help make it a reality. Trust in our financial advice, as we guide you towards achieving your financial goals.

Saving for a big purchase requires careful planning, and term deposits allow you to do just that. With a fixed interest rate, you can estimate the amount your savings will grow over the investment period. This helps you create a realistic budget and determine how long it will take to reach your savings goal.

Short Term Deposits

A secure investment option that offers a guaranteed return at competitive rates. Minimum deposit of $500.00 required.

  • Terms available for 30, 60, 90, and 180 days
  • Interest rate guaranteed, and paid at maturity
  • Redeemable prior to maturity
  • Automatic renewal option offered. Short Term Deposits can be automatically renewed at maturity for the same amount (plus interest earned) and the same term, at the prevailing interest rate.
  • No service charges

Long Term Deposits

Want certainty and flexibility with your investments? With our long-term deposit options, you can rest assured that your investments will grow steadily over a set period that works for your goals. Choose from a range of terms that go from 12 months to five years and watch your savings grow!

Whether you have specific financial goals or simply want to build a solid nest egg, our long-term deposit options offer the stability and growth potential you need. Invest with Luminus Financial and enjoy the peace of mind that comes with consistent returns on your investment.

  • Unlike mutual funds or stocks, which can go up or down, you are guaranteed a highly competitive interest rate. Thus, you know how much your investments will be worth at the end of their term
  • You can use your term deposit within your RRSP
  • Eligible deposits are insured by the FSRA up to an aggregate maximum limit of $250,000 except for Registered deposits which have unlimited coverage.

Index-linked Term Deposits (subject to availability)

A secure investment option that offers a return based on the performance of the S&P/TSE 60 Index Funds. Make a minimum deposit of only $500.00.

  • 3 or 5 year terms available
  • RRSP eligible
  • No service charges

Please click below to check the performance on your index linked term deposits:

Escalator Term Deposits

A secure investment option that offers a guaranteed return at a competitive rate. A minimum deposit of only $500.00 is required to get started.

  • Rates increase after each year
  • RRSP eligible
  • Interest is compounded annually
Are deposits insured with Luminus Financial?

For registered products including, LIRA, LIF, RRSP, RRIF, RESP and TFSA:

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). At Luminus Financial Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits in all registered accounts with Ontario Credit Unions have unlimited deposit insurance coverage through the Financial Services Regulatory Authority (FSRA).

For other eligible deposits:

Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). At Luminus Financial Credit Union, eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) with Ontario Credit Unions are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).

For more information about deposit insurance, view the FSRA Deposit Insurance Brochure.