Earn up to 2.25% on select ISA terms and boost your savings
Grow your savings faster with a great rate. For a limited time we have boosted our rates for select ISA terms.
PLUS, the more you save the better the rate. With larger deposits and transfers into a ISA and the longer the term you select, the bigger the boost to your interest rate. Promotional rates will apply to both registered and non-registered contracts, and will be available as of January 21st, 2021 for the following terms:
|Length of Term||Rates for Investments up to $49,999||Rates for Investments of $50,000 to $99,999||Rates for Investments of $100,000 to $199,999||Rates for investments of $200,000 and over|
What is an ISA?
An Individual Savings Annuity (ISA) is an investment offered through the Canadian insurance industry. Similar to Guaranteed Investment Certificates (GICs), it offers payment to you at the maturity of the investment. Prior to maturity, it allows you to grow savings with a number of investment term options, including a daily interest account and various guaranteed interest accounts. An ISA may be registered as a RRSP, providing immediate tax credits and deferring tax on interest earned.
Most importantly, once you have made your investment, the interest rate** won’t change. On top of that, a ISA offered by an insurance company offers extras such as:
- Bonus Interest: You could potentially gain an additional 3/4% bonus rate for Guaranteed Interest Accounts with a value exceeding $50,000, $100,000 or $200,000. (Bonuses apply to subsequent deposits and reinvestments. Bonuses are not part of the policy contract and may be changed at any time).
- Estate Protection: Upon your death, funds remaining in your account may go directly to your beneficiary; they are not subject to probate fees. Registered funds left to a spousal beneficiary continue to defer income tax until they are received as income.
- Potential Creditor Protection: When you name an eligible or irrevocable beneficiary, your ISA may be safeguarded from creditors.
- RRSP and TFSA eligible
- No front-end charges.
When you choose to purchase an investment with FaithLife Financial, you automatically become a member. As a member, you are eligible to take advantage of our unique member benefits. We offer these opportunities to help our members be wise with money and live generously.