Combination Savings
There when you need it. Growing when you don't.
Combining the earning power of a GIC with the flexibility of a savings account.
How it works
The Combination Savings Account is only available for new deposits during limited-time sales periods. To qualify for the rate offer, all you have to do is maintain a minimum balance of $5000. Our limited-time sales periods occur in January, April, July, October of each calendar year. During this time, special rates are unlocked for two weeks and deposits can be made.
Special Rate
For every 3-month period that you’re able to keep a minimum of $5,000 saved, the Combination Savings Account pays a special rate. Interest is calculated daily on the closing balance, and paid monthly to your account. The offer rate is paid for a specific term following the sales period, and new special rates are unlocked every three months, so start saving!
Check back in January for the next sales period.
|
Tiers |
Rate |
|
$0 - $4,999 |
0.05% |
|
$5,000 - $99,999 |
2.20% |
|
$100,000 - $249,999 |
2.30% |
|
$250,000 - $499,999 |
2.40% |
|
$500,000 + |
2.50% |
Transactions, Withdrawals & Deposits
You can open a Combination Savings account any time during a sales period, and can make deposits in the branch, online, by e-transfer or wire transfer. The account is intended to be used as a flexible addition to your savings portfolio, and you can use it to make bill payments, online transfers to other YNCU accounts, or withdrawls at any time. Some conditions apply, please contact us for more details.
Some Restrictions Apply
Certain transactions are not allowed with a Combination Savings account, including loan payments, ATM access, debit card transactions, and transfers to accounts at other financial institutions. The bonus rate applies to a minimum balance of $5,000 and no additional funds can be deposited until the next sales period. If the balance drops below $5,000 during the period, the interest rate that will be paid is 0.05%. Service fees apply to transactions, but there is no monthly fee.
*Bonus rate applies to a minimum balance of $5000. If the balance drops below $5000 during the period, the interest rate that will be paid is 0.05%. Certain transactions are not allowed including loan payments, ATM access, debit card transactions, and transfers to accounts at other financial institutions.
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2024 Your Neighbourhood Credit Union Limited. All rights reserved.
Your Neighbourhood Credit Union (YNCU) is a licensed credit union operating in, and under the laws of, the province of Ontario. Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA) .
