CIBC AgriInvest Account
Savings
Description:
The CIBC AgriInvest Account is a savings account specifically designed to assist farmers in managing AgriInvest funds, providing the support needed to plan for unexpected farming expenses.
Comments on Funding:
This account offers the following features and benefits:
-Monthly Fee: $0
-Interest Rate: 1.25% on your entire balance;
– No minimum balance (Earn interest on every dollar);
– Overdraft protection and cheques aren’t allowed on this account.
Product Benefits:
– Qualify for matching contributions: The Government of Canada matches your first annual deposit up to the maximum allowed amount.
– Get a competitive interest rate: Earn interest on your entire account balance and save even more;
– Access funds anytime: Withdraw money from your account when you need it most.
Continuous Intake
Eligibility:
Applicants must be eligible farmers participating in the Government of Canada’s AgriInvest program.
Application Steps:
Applicants must set up a meeting and visit a CIBC Banking Centre.
Documentation Needed:
1. Bring your signed Account Initiation Form, your Participant Identification Number (PIN) and Deposit Notice, which you get from the Government of Canada.
2. Bring 2 pieces of valid ID to your appointment.
Other Things to Note:
Make your government-matching deposit:
1. Review your Deposit Notice to find out the maximum amount you can deposit each year.
2. Open your account with us and make your deposit within 90 days from the date you receive your Deposit Notice.
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Maurice