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You're only completely locked in for the first year. From year 2 through year 5, you can cash in at any time, but lose the last 3 months of interest. After that, you're free to cash in whenever without penalty, or it will be automatically cashed in after a total of 30 years.

https://web.archive.org/web/20221028091214/https://www.treas...

(I'd link to TD directly, but it looks like it's being hammered right now.)

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That's still not a great deal for people looking to preserve capital and invest after a crash. It's very likely that the worst of the market declines will be within the next year. Markets are forward-looking, so once they realize that there will be long-term economic pain, they correct quickly. Oftentimes the steepest stock recovery is during the worst of the unemployment pain.

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