Online Term Deposit Renewals

FAQs

How do I renew my term deposits online?

Renewing online is easy as 1-2-3:

  1. Simply log into online banking and on the ‘My Accounts screen, select the term deposit or account that’s maturing
  2. Then, on the ‘Account Activity’ screen, click the green ‘Renew Now’ button that appears
  3. Fill in the renewal form and submit - that’s it!

When will the ‘Renew Now’ button appear?

The “Renew Now” button will appear for eligible term deposits renewing within the next 30 days.

What types of accounts can be renewed online?

Non-Registered, TFSA, RRSP and RRIF accounts are all eligible.

Which products are eligible to be renewed online?

Eligible products are: One to Five Year Term Deposits, 18 - 23 Month Term Deposit, Rate Builder, Flexi Term Deposit and the Flexi-Withdrawal Term Deposit.

Which products are not eligible for the online term renewal?

Products that are not eligible for renewal online include: Market Tracer term deposits, Nest Egg term deposits, all short term deposits under one year, Investment and Special Shares.

What happens if I want to redeem a term deposit account?

If you’d like to redeem or cash out a term deposit or transfer the funds to a cash holding account (e.g. 18 month RSP term deposit to RSP Investment Savings Account), you’ll need to visit an Alterna branch.

What happens if I change my mind?

If you change your mind after submitting your online term renewal request, simply call us. A knowledgeable Contact Centre representative will be pleased to help. Or, visit your local Alterna branch to change the instructions regarding the term deposit

What happens if I select an incorrect term deposit renewal choice?

If you happen to select an incorrect term deposit renewal instruction, someone from our Contact Centre will reach out to you to help you make the appropriate investment choice.

Will I receive a notification of receipt of the request?

Yes, you’ll receive an online confirmation upon successful submission of the term deposit renewal request, as well as an e-mail confirming your submission.

Will I receive confirmation when my request has been processed?

Yes, you’ll receive an e-mail within 2 business days after your request has been processed.

Who can I contact if I have any questions?

Please call our Contact Centre. Our representatives would be pleased to help.