Deposit Broker Products

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Deposit Broker Products

Guaranteed Investment Certificates (GIC)

VersaBank provides its Guaranteed Investment Certificates (GICs) through a comprehensive network of authorized deposit brokers, investment advisors, and securities dealers nationwide. GICs are available exclusively in nominee name. Our GICs feature flexible terms ranging from 30 days to 5 years and offer competitive, guaranteed interest rates, enabling you to enhance your clients' portfolios with diversified, low-risk investments.

Please note that VersaBank does not offer its GICs directly to consumers.

Our fixed-term non-registered GICs provide a safe and secure investment option, eligible for CDIC insurance. They offer a guaranteed rate of return and are transferable*.

GICs are low-risk fixed-income products that appeal to risk-averse investors or those seeking conservative investments. Our GICs are suitable for investors looking for low-risk investments eligible for CDIC insurance, with a guaranteed rate of return and security of the principal amount, and who do not require immediate access to funds.

GIC Benefits and Information:

CDIC Insurance: Our GICs offer the security of deposits eligible for CDIC insurance, subject to any rules, laws, or limitations of the CDIC.
Low-Risk Investment: GICs provide a guaranteed return, making them a low-risk investment.
Laddering Strategy: You can create a laddering strategy by staggering the maturity dates of your GICs at different intervals to maximize returns while avoiding risk and taking advantage of varying interest rates.
Flexible Terms: GICs offer flexible terms from several months to several years, making them a strong option for short-, medium-, and long-term goals.
Portfolio Balance: Low-risk investments like GICs can help balance your portfolio and reduce overall risk.
Principal Security: GICs can increase your savings while keeping your principal secure.
Taxation: Non-registered GICs are subject to taxation.

For more information about our GICs refer to GIC Terms & Conditions and Disclosures and Information.

* A nominal fee may apply.

Products no longer offered

This information is for your clients who currently have the investment products listed below. These products are no longer available.

Registered Retirement Savings Plans (RRSP)

Registered fixed-term RRSPs provide the benefit of tax-protected earnings to help build your retirement savings, along with a deduction on your current tax return. Our registered GICs offered fixed terms from one to five years, providing a safe and secure investment option with a guaranteed rate of return, and are eligible for CDIC insurance.

An RRSP is a registered investment product designed to help save for retirement. Our RRSPs are suitable for risk-averse investors who wish to plan for retirement to maintain their lifestyle and achieve their goals, reduce income taxes through deductible RRSP contributions, and allow their accumulated interest to grow tax-free.

RRSP Benefits and Information:

CDIC Insurance: Our RRSPs offer the security of deposits eligible for CDIC insurance, subject to any rules, laws, or limitations of the CDIC.
Tax Reduction: You can reduce your taxable income now and only pay tax when you make withdrawals.
Retirement Savings: Build your savings for a comfortable retirement in the future.
Contribution Room: Unused contribution room is carried forward.
Contribution Limits: The maximum you can contribute each year is set by the Canadian government and depends on your income.
Maturity: An RRSP plan matures at the end of the calendar year in which the holder turns 71.
Spousal Contributions: Contributions can be made to a spousal RRSP.
To learn more about RRSPs refer to Registered Retirement Savings Plan (RRSP) - Canada.ca

For more information about our RSP refer to RSP Terms & Conditions and Disclosures and Information.

Tax-Free Savings Account (TFSA)

The Tax-Free Savings Account (TFSA) was introduced by the Government of Canada in 2009 to help Canadians save and invest their money. Our TFSA offered fixed term GICs ranging from one to five years, providing a safe and secure investment option with a guaranteed rate of return, and is eligible for CDIC insurance.

A TFSA is a registered investment vehicle designed to help you save for goals, whether they are long-term or short-term, big or small. Our TFSA is suitable for risk-averse investors who wish to set money aside and accumulate tax-free income. It can be used to save for specific goals such as purchasing a new car, completing renovations, taking a vacation, building an emergency fund, or supplementing long-term retirement savings. Since you can withdraw funds from your TFSA without tax implications, it is ideal for both short- and long-term goals.

TFSA Benefits and Information:

Tax-Advantaged Savings: Our TFSA is a Canadian registered tax-advantaged account that helps depositors earn income tax-free.
Eligibility: Canadian resident who is the age of majority or older in their province or territory. Must have a valid social insurance number (SIN). To learn more about eligibility refer to The Tax-Free Savings Account (TFSA) - Canada.ca.
CDIC Insurance: Our TFSA offers the security of deposits eligible for CDIC insurance, subject to any rules, laws, or limitations of the CDIC.
Tax-Free Growth: Zero tax on your investment growth or withdrawals.
Contributions: Contributions to a TFSA are not tax deductible for income tax purposes.
Contribution Room: TFSA contribution room grows each year, and unused contribution room is carried forward. To learn more about a contribution room refer to Contributions - Canada.ca
Non-Deductible Contributions: Contributions made to your TFSA are not tax-deductible.
No Maximum Age Limit: There is no maximum age limit for contributing to a TFSA.
Annual Contribution Limit: The annual TFSA contribution limit for 2025 is $7,000.
To learn more about TFSAs refer to The Tax-Free Savings Account (TFSA) - Canada.ca.

For more information about our TFSA refer to TFSA Terms & Conditions and Disclosures and Information.

If you would like to learn more about our Deposit Broker Network and our deposit products, please contact our Deposit Services team toll free at 800-213-4282

Deposit Insurance

VersaBank is a member of the Canada Deposit Insurance Corporation (CDIC). VersaBank deposit products are eligible for deposit insurance subject to the maximum coverage limitations as outlined by the CDIC.

For more information about what’s covered and how it works, click the digital symbol.

Additional details can be found on CDIC, Regulators & Helpful Links