Options for your savings in uncertain times
Term deposits for security, safety and predictability.
We are all struggling to find our way forward in this global pandemic. Every day we hear from clients about the financial stress and anxiety they are coping with, in addition to their primary concerns for the health and safety of their loved ones and themselves.
For many, the financial stress centres around a desire for security, safety and predictability for their savings. Market volatility, an economic recession and falling interest rates create a perfect storm of uncertainty.
We’re listening to these concerns, so we can better respond to client needs. One step we’ve taken is to actually raise select deposit rates (despite the recent rate cuts implemented by the Bank of Canada), so we can provide valued clients with a solid rate of return in these uncertain times.
Special rate on two term deposits
Specifically, this includes 1Y non-redeemable term deposits at 2.30%* and cashable FLEXTerms at 1.90%*, if you’d prefer to keep your funds liquid. And as additional assurance, as always, BlueShore member deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.
Another option: market-linked term deposits
A market-linked term deposit is one where the rate of return is linked to the stock market and therefore offers potentially higher growth. However, unlike investing directly in the market, your principal is always guaranteed. You will never lose the original amount of your investment.
But the upside can be significant since the performance of the market determines how much money you'll make at the end of the term. In essence, it takes some of the risk out of investing while capitalizing on the stock market's potential. With today’s market conditions, this may be an excellent product to include in your portfolio.
We’re here for you
Please know that we are here to talk through any questions or concerns you have about your financial plans – whether that’s how to manage right now or what effect the current situation will have on your longer term goals.
Don’t hesitate to contact your BlueShore advisor or our Solution Centre team at 604.982.8000 (1.888.713.6728) if you need assistance or advice.