BPWCCUL UCOLSA Registered Retirement Savings Plan
BPWCCUL's RRSP with a guaranteed rate of 0.5% above the call deposit rate (currently yielding 0.85%), with semi-annual interest payments.
RetirementRRSPSemi-annual Interest
Rates verified: N/A
About This Product
The BPWCCUL UCOLSA Registered Retirement Savings Plan requires a minimum opening balance of BBD $100.00 with no monthly service fee. It offers 0.85% Interest Rate.
✓ Benefits
- Guaranteed rate formula (call deposit rate + 0.5%) automatically tracks rate changes.
- Current yield of 0.85% is higher than most BPWCCUL deposit products.
- Interest paid twice yearly in June and December for predictable returns.
- Tax-advantaged vehicle designed for long-term retirement saving.
- No monthly service fee
⚠ Considerations
- Cannot be used as security for a loan (unlike BPWCCUL's other savings and investment accounts).
- Early withdrawal incurs a 25% withholding tax plus a BBD $25 processing fee.
- Withdrawals at maturity are subject to Income Tax Act provisions.
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