CIBC Business Investment Growth Account

Amount:

Type:

Savings

Description:

The CIBC Business Investment Growth Account is a convenient financial solution that empowers businesses to grow their funds, enabling them to achieve their business goals.

Comments on Funding:

This account offers the following features and benefits:
-Monthly Fee: $0;
-Interest Rate: 1.50% to 2.00% based on daily closing balance;
– No minimum balance;
-Transactions:
a) $1.00 for each self-service credit transaction;
b) $1.25 for each full-service credit transaction;
c) $5.00 for each debit transaction.

Product Benefits:
– Get a competitive interest rate (Earn more interest on higher account balances);
– Easily transfer funds between your business accounts;
– Withdraw money from your account when you need it.

Deadline:

Continuous Intake

Eligibility:

Applicants must be businesses, including a sole proprietorship, a partnership, a corporation or incorporated association, and unincorporated associations.

Application Steps:

Applicants must complete the application form online or complete the form and visit a CIBC Banking Centre and bring 2 pieces of valid ID to their appointment.

Documentation Needed:

Specific documentations must be provided based on the type of business structure.

Other Things to Note:

1. Full-service refers to transactions performed in a CIBC Banking Centre, through a CIBC Telephone Banking representative, through a CIBC Business Contact Centre representative, or through the regular Wallet Depository Service.
2. Self-service refers to cheques written as well as transactions performed through an ATM, Point of Sale terminal, ABM-Wallet Combo Depository Service, CIBC Telephone Banking Automated Service, CIBC Business Contact Centre Automated Service, CIBC Online Banking, SmartBanking® for Business (SmartBanking), CMO, CIBC eDeposit for cash, or CIBC eDeposit for cheques.

Maurice

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Canada to identify and maximize funding to grow their business.

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