La Capitale High-Interest Savings Account - Promotions details and conditions

Get up to $55 when you open your first La Capitale High-Interest Savings Account 

  • $30 will be paid directly into your account when you open your first La Capitale High-Interest Savings Account using promotion code INSURE30 when registering. This promotion does not apply to the La Capitale High-Interest TFSA.
  • $25 will be paid directly into your account when you enrol in payroll deduction for the first time (participating employees only) OR $20 when you set up a periodic deposit for the first time. This promotion does not apply to the La Capitale High-Interest TFSA.
  • You cannot benefit from these offers if you have already participated in a similar promotion.
  • The interest rates are subject to change at any time and without notice.
  • Interest applicable to the La Capitale High-Interest Savings Account is calculated daily on the closing balance and paid monthly.
  • 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 block deposits made by cheque or electronic funds transfer for seven business days. Deposits made by payroll deduction will not be blocked.
  • To open a La Capitale High-Interest Savings Account, you must agree to the Terms of Use for the account.

 

Up to a 2.50% interest rate on new deposits

Promotional rates

  • La Capitale High-Interest Savings Accounts: 2.00%
  • La Capitale High-Interest TFSAs: 2.50%

Promotional Periods

  • From November 4, 2021, to January 31, 2022, for La Capitale High-Interest Savings Accounts
  • From November 4, 2021, to February 28, 2022, for La Capitale High-Interest TFSAs

Eligibility

  • Eligible customers: All those who hold La Capitale High-Interest Savings Accounts or High-Interest TFSAs
  • Eligible deposits: All net deposits totalling less than $100,000 made in the eligible account(s) that increase the overall balance posted on November 3, 2021.
  • Types of eligible accounts: La Capitale High-Interest Savings Accounts and High-Interest TFSAs

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 customers 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 November 3, 2021.

Additional interest

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

Example

On November 4, 2021, the current rate posted by La Capitale for eligible High-Interest Savings Accounts was 0.45%. The difference between the promotional rate of 2.00% and the current rate of 0.45% is equal to 1.55%. The additional interest payable in this case is therefore 1.55% (2.00% - 0.45% = 1.55%).

The additional interest accrued daily is therefore equivalent to the net new deposit in dollars multiplied by (0.0155 ÷ 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 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 in new net deposits made to the eligible account. The current interest rate of the eligible account posted by La Capitale will apply to the remaining amount.

Transfers between La Capitale High-Interest Savings Accounts and High-Interest TFSAs are not considered new deposits eligible for the promotional rate.

Example

A client transfers $2,000 from a La Capitale High-Interest Savings Account to a La Capitale High-Interest 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 November 3, 2021. In that event, only the remaining amount of the balance posted on November 3, 2021, will be eligible for additional interest.

Limits

  • 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 of seven business days on deposits made by cheque or electronic fund 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.