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The interest rate for a cash deposit is set at the beginning of the calendar
quarter in which it is received.
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Residential deposits - the rate prevailing on Government of Canada one year
Treasury Bills;
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General Service and industrial deposits - the rate prevailing on two year
Government of Canada bonds.
Interest on all cash security deposits is compounded semi-annually as long as
any portion of the deposit remains.
Residential, General Service and industrial Accounts are reviewed periodically
and deposits will be refunded as a credit to the Account for which the deposit
was held if the Customer has established a satisfactory payment history.
Residential Customer deposits are reviewed twelve months after a deposit is
made, General Service and industrial Customer deposits are reviewed twenty-four
months after a deposit is made. If the Customer has established a satisfactory
payment history then the security deposit is refunded. Otherwise an extension
may be required. Interest on security deposit extensions is calculated at the
interest rate prevailing at the time of the extension.
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