FAQ Category: High Interest Terms

How do I open a term deposit?

You can get started online in just a few steps by opening an account here: Open your term deposit

Why choose a term deposit instead of a savings account?

A term deposit option typically offers higher interest rates than a regular savings account, making it a great choice when you’re comfortable setting aside funds for a fixed period.

What do I need to get started?

You’ll need a minimum deposit of $1,000 to open a term deposit and start earning interest.

How is interest calculated on a term deposit?

Interest is calculated based on your term and is typically compounded annually, helping your savings grow over time.

Can I access my money before the term ends?

It depends on the term you choose:

Is my money safe in a term deposit?

Yes—your deposit is 100% guaranteed through the Deposit Guarantee Corporation of Manitoba, so you can save with confidence.

How long can I invest in a term deposit?

With Hubert, you can choose terms ranging from 1 to 5 years, so you can pick the timeline that fits your savings goals.

What is a term deposit in Canada?

A term deposit in Canada is a secure way to grow your savings by locking in your money for a set period in exchange for a guaranteed interest rate. You’ll get your original deposit back at the end of the term, along with earned interest.