Meridian rates and fees

¹Interest rates shown are subject to change without notice and are on a per annum basis. Interest is calculated on the closing daily balance and is paid on the last day of each month. Interest is calculated on the closing daily balance and is paid monthly in the same currency as the account for all accounts shown except the RESP account. Interest on the RESP account is calculated on the minimum monthly balance and paid semi-annually (June and December).

²U.S. dollar deposits are not covered by the Financial Services Regulatory Authority (FSRA).

³On approved credit, rates are subject to change without notice. Quoted rate is based on blended payments of principal and interest and is the regulatory Annual Percentage Rate if there is no cost of borrowing other than interest. Interest is calculated half-yearly for fixed rates, and monthly for variable rates, not in advance. Additional premiums may apply in cases of extended amortizations, non-owner occupied, or other instances where application details may warrant it. The interest rate with variable rate mortgages will fluctuate with Meridian Prime Rate, which is currently 4.95%. Where applicable, the Bank of Canada qualifying rate is 5.25%. Builder's pricing applies to posted rates, not to promotional or special rates. For commercial mortgage rates, please speak to your Commercial Relationship Manager.

⁴A High Ratio mortgage is applicable in cases where a borrower places a down payment of less than 20% when purchasing a residential property with a purchase price of under $1,500,000. The borrower must also be eligible for and purchase mortgage default insurance and meet all applicable conditions. Renewals are ineligible. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000 and under $1,500,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Mortgage Rates are applicable to Retail Members Only.

⁵Interest is calculated daily, not in advance, on the outstanding closing balance of the principal sum borrowed and charged monthly. Minimum payment equivalent to monthly interest charged. Additional premiums may apply in instances where application details may warrant it. The Line of Credit interest rate is a variable rate and will fluctuate based on Meridian Prime and LOC Prime. Meridian Prime Lending rate: 4.95%. Meridian LOC Prime Lending rate: 5.45%. Some conditions apply. Rates subject to change without notice.

⁶GIC interest rates expressed are annual interest rates and current as of today’s date. Rates are subject to change without notice. Interest is calculated and accrued daily. Interest is paid at maturity unless otherwise specified. This does not apply to Market-Linked GICs.

⁷Meridian will redeem a cashable term deposit prior to the maturity date. No interest is payable when it is redeemed within the first 90 days. Redemptions after 90 days of the investment’s start date are not subject to an early redemption fee. Interest will be paid to the date of redemption as stated by the predetermined interest rate. Redemptions are only allowed on the full amount of the investment.

⁸Both the 3-year Raise the Rate GIC and the 5-year Raise the Rate GIC are non-redeemable over the life of the product. The initial investment is made at the prevailing rate for the Raise the Rate GIC. Members are eligible to increase the rate once over the life of the 3-year Raise the Rate GIC and twice over the life of the 5-year Raise the Rate GIC. Rate matching is only available against the comparable GICs offered by Meridian. In order to implement a rate increase, the Member must initiate the request. The rate increase will not be automatically implemented. After a rate increase has been exercised, the term and maturity date of the GIC remain the same. The effective date of the rate change will be the date on which the Member requested the change. The exception to this is if a Member requests a rate change on December 30 or December 31, the effective date of the rate change will be no later than January 2 of the following year. Interest is calculated/compounded annually and will be paid annually and at maturity. During the course of the term, if a Member has elected to increase their rate, the annual amount of interest paid for that year will be pro-rated based on the two rates used for that year and the length of the time each rate held. The actual overall yield for the full term of the deposit will be based on a blend of the original contract rate and any elected increases to the rate.

⁹The 3 Year Escalator is cashable in whole or in part on its anniversary date and 30 days thereafter. At all other times this product is non-redeemable. The 5 Year Escalator is transferrable to a non-redeemable term that is at least one year in length on its anniversary date and 30 days thereafter. At all other times this product is non-redeemable. Available for registered (TFSA/RRSP/RRIF) products only.

¹⁰Laddered GIC Strategy Bonus Rates are the interest rate earned when the investment principal is equally distributed across each of the 1 to 5 Year GICs. The Average Rate is calculated by taking the average of the rates for each of the GICs, for example; 1 Year GIC at 3.35%, 2 Year GIC at 3.45%, 3 Year GIC at 3.45%, 4 Year GIC at 3.55%, 5 Year GIC at 3.60% equals an Average Rate of 3.48% before 0.10% bonus. The minimum required investment is $100 per GIC; or minimum $500 per total Ladder Strategy.

¹¹Meridian will redeem a redeemable term deposit prior to the maturity date. No interest is paid when redeemed within the first 30 days. Redemptions after 30 days of the investment’s start date are subject to an early redemption fee equal to 1/3rd of all interest paid and payable from the start of the term to the effective date of the redemption request. Redemptions are only allowed on the full amount of the investment. All interest paid and payable is treated as taxable income. Early redemption fee does not reduce amount of taxable interest.

Deposit Insurance: 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). For more information, visit the FSRA website.