

10:54 am
September 30, 2017

6:48 am
September 30, 2017

3:58 pm
September 30, 2017

12:15 pm
January 28, 2015

Well I pulled all my money out of Alterna a few years back due to lagging rate. They are now offering 5% for 1-5 years, so I was reading their term deposit eterms and i quote
1 – 5 Year Term Deposits & 1 – 5 Year eTerm Deposits:
1. Minimum deposit of $500. $100 minimum deposit if under 19 years of age (excluding eTerm Deposits)
2. No withdrawal prior to maturity
3. Annual compound interest paid monthly or annually and at maturity
To me it looks like they will pay the interest out monthly as does Motive .I will phone tomorrow to confirm . Getting close to retirement it's nice to have a monthly stream of cash
12:30 pm
April 6, 2013

If interest compounds or is credited annually, how does Alterna Bank pay it out during the months of year #1, before any accrued interest is added to the deposit balance?
They should correct the wording to "Interest (a) paid out monthly, (b) paid out annually, or (c) compounded annually and paid at maturity" if that is what they mean.
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