Town of Kerrobert Council Meeting Minutes March 2026
Town Invests Reserves In Royal Bank Cashable GIC
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Description
Council approved investing reserve funds in a Prime Linked Cashable GIC with Royal Bank earning 2% interest on deposits between $5,000 and $250,000, with a minimum 29-day term. This action aligns municipal reserves with a short-term interest-bearing product.
Contract Details
Vendor
ROYAL BANK
Agency
Town of Kerrobert, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
March 25, 2026
Contract Term
Minimum 29 calendar days, deposit range $5,000 to $250,000 at 2% interest
Renewal Info
Cashable GIC requires a minimum of 29 days before redemption; no automatic renewal terms are specified in the minutes.
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