Promotions details and conditions

La Capitale Stow & Grow Account

2.30% interest rate on new deposits

 

Eligibility

Eligible clients: All La Capitale Stow & Grow Account and/or La Capitale Stow & Grow TFSA holders

Type of eligible account:

  • La Capitale Stow & Grow Account

Promotional Period: Septemer 6, 2016 to December 31, 2016

  • La Capitale Stow & Grow TFSA

Promotional Period: Septemer 6, 2016 to December 31, 2016

Eligible deposits: All net deposits totalling less than $100,000 made in the eligible account(s) that increase the overall balance posted on September 5, 2016.

 

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 September 5, 2016.


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 September 6, 2016, the current rate posted by La Capitale for the eligible account is 0.80 %. The difference between the promotional rate of 2.30% and the current rate of 0.80% is 1.50%. The additional interest payable is therefore 1.50% (2.30% - 0.80% = 1.50%).

The additional interest accrued daily is: net new deposit in dollars multiplied by (0.015 ÷ 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 Stow & Grow 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.

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 Stow & Grow Accounts will not be considered as new deposits eligible for the promotional rate.

Example

A client transfers $2,000 from one La Capitale Stow & Grow Account to a La Capitale Stow & Grow TFSA 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 September 5, 2016. In that event, only the amount that exceeds the balance posted on September 5, 2016 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 Stow & Grow Account, you must be age 18 or older and be a resident of Quebec.
  • The bank account you link to your La Capitale Stow & Grow 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 Stow & Grow Account or La Capitale TFSA, you must agree to the Terms of Use for the account.