Promotion details and other conditions

3.00% interest rate on new deposits

Promotional Periods: 

  • From October 17, 2019 to January 31, 2020 - La Capitale High-Interest Savings Account
  • From October 17, 2019 to February 28, 2020 - La Capitale High-Interest TFSA Account

Eligibility

  • Eligible clients: All La Capitale High-Interest Savings Account and/or La Capitale High-Interest Savings Account TFSA holders
  • Eligible deposits: All net deposits totalling less than $100,000 made in the eligible account(s) that increase the overall balance posted on October 16, 2019.
  • Type of eligible accounts: La Capitale High-Interest Savings Account or La Capitale High-Interest TFSA Account

The promotional interest rate

The promotional interest rate is obtained by adding the current interest rate of the eligible account and the additional interest rate applicable to new deposits during the promotional period. It is offered to clients who hold an eligible account during the promotional period.

During the promotional period, La Capitale will calculate the additional interest on eligible new net deposits, for eligible accounts, each time the account balance surpasses the balance posted on October 16, 2019.

Additional interest

The additional interest is the difference between the promotional rate and the current interest rate assigned to the account, listed by La Capitale in the Client Centre's summary of accounts, for eligible accounts.

Example

On October 16, 2019, the current rate posted by La Capitale for the eligible account is 1.15 %. The difference between the promotional rate of 3.00% and the current rate of 1.15% is 1.85%. The additional interest payable is therefore 1.85% (3.00% - 1.15% = 1.85%).

The additional interest accrued daily corresponds to the net new deposit in dollars multiplied by (0.0185 ÷ 365).

The additional interest applicable to the eligible account(s) during the promotional period is calculated daily, on your closing balance, and paid monthly in the first account opened for each type of eligible High-Interest account. The additional interest payment will appear on your monthly account statement during the promotion.

Example

For this type of account eligible for the promotion, you hold three sub-accounts for different projects in which you make new deposits eligible for the promotion. The additional interest will be calculated daily for all the sub-accounts that make up the type of account eligible for the promotion, but will be paid in a single instalment at the end of each month of the promotional period in the first sub-account you created. If the eligible account type is closed during a promotional month, the additional interest accrued during the month in which the account is closed will not be paid.

The additional interest will be paid only on the first $100,000 of new net deposits made into the eligible account. The current interest rate of the eligible account posted by La Capitale will apply to the remaining amount.

Transfers made between two different La Capitale High-Interest Savings Accounts will not be considered two new deposits eligible for the promotional rate.

Example

A client transfers $2,000 from one La Capitale High-Interest Savings Account to a La Capitale High-Interest Savings AccountTFSA that is eligible for the promotion. The $2,000 will not be considered a new deposit eligible for the promotion.

No additional interest will be paid on transfers to external accounts that are later redeposited into an eligible account, unless these deposits increase the overall balance of the eligible account posted on October 16, 2019. In that event, only the amount that exceeds the balance posted on October 16, 2018 will be eligible for additional interest.

Limitations

  • The promotional and current interest rates are subject to change at any time and without notice.
  • The additional interest will be paid only on the first $100,000 in new net deposits made to the eligible account.
  • In order to open a La Capitale High-Interest Savings Account, you must be age 18 or older and be a resident of Quebec.
  • The bank account you link to your La Capitale High-Interest Savings Account must be active and held at a Canadian financial institution.
  • We will place a hold for seven business days on deposits made by cheque or electronic funds transfer. No holds are placed on deposits made by payroll deduction.

To open a La Capitale High-Interest Savings Account or La Capitale High-Interest Savings Account TFSA, you must agree to the Terms of Use for the account.