Certificates of Deposit

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COD

The wise investment instrument

This account is designed for investors who are willing to leave their funds untouched for a fixed period while earning high interest.

Certificates of Deposit (CDs) are designed for investors who want to fix investments for a specific period to achieve better yields through competitive interest rates. These are available in:

  • Trinidad & Tobago Dollars - (Minimum investment amount TT$1,000.00)
  • United States Dollars - (Minimum investment amount US$1,000.00)
  • Canadian Dollars - (Minimum investment amount CAD$1,000.00)
  • Great Britain Pounds - (Minimum investment amount £1,000.00)
  • Euro Dollars (Minimum investment amount € 1,000)

Convenient term options – 1 month, 3 months, 6 months and 12 months

TT$ Republic Certificate of Deposit
TERM Below $49,999.99 $50,000-$99,999.99 $100,000-$249,999.99 $250,000-$500,000 $500,000.01 & Over
90 days 0.10% 0.10% 0.10% 0.20% 0.20%
180 days 0.10% 0.10% 0.15% 0.35% 0.35%
1 year 0.35% 0.35% 0.45% 0.95% 1.05%
2 years 0.65% 0.65% 0.85% 1.15% 1.25%
3 years 0.85% 0.85% 1.05% 1.30% 1.40%
US$ Republic Certificate of Deposit

US$ Money Market Account: 0.05%

Sterling £ Republic Certificate of Deposit

Sterling £ Money Market Account: No interest is earned on this account.

CAD Republic Certificate of Deposit
CAD Money Market Accounts, CAD3,000 and over - 0.10%
TERM RATE - £1000.00 and over

3 months

0.10%

6 months

0.15%

12 months

0.15%

Euro € Certificate of Deposit

No interest is earned on this account.

What you will need

Before visiting our branches, ensure you have the following documents:

Identification Requirements if you are:
  • New and Existing Republic Bank Customer
  • Non-Resident or Foreign Based National
One (1) form of Identification which clearly states your nationality (e.g. National Identification Card or Passport).

Kindly note the following:
  • Where a Drivers License has been presented which does not explicitly state your nationality, you would be required to provide another form of Identification such as your National ID, Passport or any other document that validates your nationality, for instance your Birth Certificate
  • If you have dual nationality, you are to provide one (1) form of Identification stating the nationality relating to each country of which you are a national.
For New and Existing Republic Bank Customers

Recent Utility Bill and Authorization Letter, if the utility bill is not in your name
Job Letter
Pay slip
Reference Letter (In some cases)
Required Deposit for opening
To ensure that you have all the documents needed to open the account, kindly contact any one of our conveniently located branches before your appointment date. Our friendly branch staff will be happy to assist you.

For Non-Residents or Foreign Based Nationals

Utility Bill in the customer’s name valid for three (3) months (Telephone, Electricity, Water, Cable/Internet)
N.B. Where the utility bill is not in the customer’s name, the customer can submit the lease agreement, where available, or a letter from the landlord addressed to the Bank.
Proof of income:

  1. Salaried individuals - Job Letter and a recent payslip dated within the last three (3) months
  2. Self-Employed individuals will be required to submit further financials;
    • Up-to-date Audited Financial Statements (for the last three (3) years) OR
    • Management Accounts (for the last three(3) years) OR
    • Statement of Affairs and Statement of Income & Expenditure (these are available at the Sales Department upon request)
    • For a start-up entity*: An opening Balance Sheet & Cash Flow projections
Reference letter from the customer’s bankers abroad (not required where a non-national has proof of legal status and has been residing in Trinidad and Tobago for over five (5) years)
Where applicable, Work Permit/ CSME Certificate/ Other official document granting permission for employment/ Letter of enrollment/acceptance from Institution in Trinidad & Tobago (for Students only)

*Start-up entity refers to entities which have been in operation for less than three (3) years.
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