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Special GIC Offer

Get 4.5% on a 1-year cashable GIC! Rate applies to registered TFSA and unregistered deposits, too.

Call 416-207-9239 or email invest@parama.ca

The Small Print:  New deposits transferring from another financial institution only. Rates are subject to change at any time. Cashable GICs are subject to a 60 day investment period before redemption can be made. Fixed term GICs are non-redeemable. To buy a Parama GIC you must be or become a member. Becoming a new member requires a visit in person to one of our west end Toronto branches. Please call for an appointment.

Other terms and rates are available for RRSP, TFSA, RRIF and Unregistered savings. CLICK TO SEE THEM

Terms & Conditions:

PARAMA Offer

  • PARAMA Credit Union’s offer (“the offer”) is available to Members only, for registered or unregistered deposits.  If applicable, the Member must meet the requirements for holding a registered retirement savings plan.
  • This special offer is for new deposits only.
  • Cashable GICs are subject to a 60 day investment period before they can be redeemed, and therefore might not be suitable for your investment timeline. Other investments or savings accounts might be better for YOU.
  • The offer is available in branch or by virtual meeting/phone to new and existing Members.  Learn about Membership here, or give us a call. Transfers and deposits to new registered plans require original signatures. A deposit into an existing plan does not require an original signature and may be done by virtual meeting/phone.
  • If registered funds are being transferred from another financial institution, the T2033 transfer form must be signed - if account is registered.
  • PARAMA will pay up to $100 in compensation for transfer charges for RSP funds transferred from another financial institution. Account minimum applies..
  • If applicable, it is the Member’s responsibility to verify that they have adequate contribution room in their registered product (TFSA) prior to making an investment. Contribution room is the maximum amount you can contribute and is comprised of unused contribution amounts and withdrawals from previous years. Anyone who exceeds their contribution limit is subject to a tax penalty from the Canada Revenue Agency (CRA).
  • The offer rate is an annual percentage rate. Interest is paid annually. 
  • Your deposits are safe and sound. Eligible deposits in registered accounts have unlimited coverage through FSRA.  Eligible deposits (not in registered accounts) are insured up to $250,000. Read more about Ontario Credit Union deposit insurance here:  https://www.fsrao.ca/consumers/deposit-insurance-and-credit-unions
  • Rates can change at any time, so don't wait to take advantage of this rate special.

Daily Interest Premium Savings  Maintain maximum flexibility with your funds. Deposit and withdraw whenever you need - and never worry about carrying a certain balance just to benefit from this rate.  

Get our Everyday Chequing Account for all your banking needs! Download and fill out our account opening package, email it to us and we'll be in touch to get you started. Or call one of our branches.

Save in Euro or US$, too!  Protect your savings from fluctuations in currency rates. Our US and Euro savings accounts are no fee accounts paying a very competitive rate.