Vancity Community Investment Bank (VCIB) High Interest Savings Account
Savings
Description:
The High Interest Savings Account enables businesses to earn competitive, tiered interest on their short-term savings.
Comments on Funding:
This account offers the following features and benefits:
Features:
1. Includes up to 10 free* transactions a month.
2. Interest calculated daily on closing balance and paid monthly. For details on their interest rates, visit https://vancitycommunityinvestmentbank.ca/rates/.
3. Access funds through online banking only – no cash, ATM/debit, cheque, or branch services.
4. Have confidence that your savings will circulate to support positive social environmental change.
Benefits:
1. Competitive interest rates that increase with outstanding balances.
2. Convenient, flexible access to cash when needed through funds transfers and bill payments.
3. No minimum deposit required or monthly fees.
4. Deposits are eligible for deposit insurance by Canada Deposit Insurance Corporation (CDIC).
Continuous Intake
Eligibility:
The applicant must be a purpose-driven business, a non-profit or a charity.
Application Steps:
Applicants must contact VCIB and get in touch with a Business Banking representative.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
