† Promotional Interest Offer
The following Terms and Conditions explain in detail how promotional interest can be earned on new and existing CIBC Business Investment Growth Accounts.
Promotional Offer Period
1. The CIBC Business Investment Growth Account (the “BIGA”) Promotional Interest Offer (the “BIGA Offer”) begins on July 1, 2025 and continues until October 31, 2025 (the “BIGA Promotional Offer Period”).
Promotional Interest and Regular Interest
2. Promotional Interest is calculated daily at the current rate and paid monthly based on the following criteria:
- If a BIGA is opened during the BIGA Promotional Offer Period, it is eligible to earn Promotional Interest on the end of day final balance from the date the BIGA is opened for the duration of the BIGA Promotional Offer Period.
- If a BIGA was opened before the Promotional Offer Period, it is eligible to earn Promotional Interest on the portion of the account’s end of day final balance that exceeds the end of day final balance as at June 30, 2025. If a BIGA is overdrawn as at June 30, 2025, Promotional Interest will be applied to new balances after overdrawn funds have been cleared.
Regular interest (“Regular Interest”) is calculated daily at the current rate on each day’s end of day final balance, and paid monthly.
Regular Interest may be referred to as “Daily Credit Interest” and Promotional Interest may be referred to as “Promo Interest” on record keeping (such as CIBC Online Banking).
Regular and/or Promotional Interest rates may change at any time without prior notice. For current Regular and Promotional Interest rates, visit the CIBC Business Account Rates page.
Restrictions
3. BIGA and BIGA Offer are available to eligible Small Business, Private Wealth, and Commercial Banking – Independent Business clients.
4. Promotional Interest will not be paid on funds that are transferred during the BIGA Promotional Offer Period:
- From a BIGA opened prior to the BIGA Promotional Offer Period to a BIGA that is opened during the BIGA Promotional Offer Period, or
- From a BIGA opened prior to the BIGA Promotional Offer Period to another CIBC bank account, and then back to a BIGA.
5. The Promotional Interest rate is earned on the first $5,000,000 in excess of the end of day final balance on June 30, 2025, or end of day final balance as of the date the BIGA is opened, for accounts opened during a campaign. Balances in excess of the first $5,000,000 will receive regular annual interest only. If multiple BIGAs are owned by a client, all account balances will be aggregated, for the purpose of calculating Promotional Interest.
General Terms and Conditions for Interest on Deposit Accounts
6. Interest will be credited to your account effective as of the last business day of the calendar month and will be reflected in your account records and available to you two business days after the end of the calendar month.
7. Interest rates quoted are annual.
8. The interest rate for each balance tier applies only to the portion of the balance which is in that tier. Interest rates and balance tiers are subject to change without prior notice and are on display at any banking centre.
1 Other fees may apply to the operation of your account. To learn more, refer to pages 6 to 12 in Business Account Service Fees (PDF, 245 KB) Opens in a new window..
2 Transactions include any debits and credits to your account (excluding CIBC interest credits and fee debits). Debits include, without limitation, withdrawals, cheques, pre-authorized payments, bill payments, Interac Direct Payments, Interac e-Transfer payments, direct deposits and transfers to other accounts. Credits include, without limitation, deposits, pre-authorized payments, bill payments, Interac Direct Payments, Interac e-Transfer payments, and direct deposits and transfers from other accounts (except transfers from CIBC business accounts). Additional charges may apply including, without limitation, Interac e-Transfer, “Items Deposited” and “Currency Supplied” fees where applicable.
3 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.
4 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.
5 eStatements are available for Canadian and U.S. dollar CIBC business accounts. eStatements are available once a month at month end on CIBC Online Banking or based on your preferred statement cycle on CIBC SmartBanking for Business (SmartBanking) or CIBC Cash Management Online (CMO). To view eStatements on CIBC Online Banking, you must be a Signatory or Co-Signatory and registered for CIBC Online Banking. To view eStatements on SmartBanking or CMO, you must be registered for the platform, entitled to one or more business accounts and entitled to eStatements. Included with CMO monthly Maintenance fee.
6 If there is no account activity, a statement may not be produced. If no statement is produced, the printed statement fee will not apply.
7 Other than CIBC Telephone Banking.
8 This means ATMs not displaying the CIBC name or logo. Some ATMs may levy additional surcharges.
9 CIBC U.S. Dollar Current Account cheques payable by CIBC through its clearing agent to U.S. payees. This service is only available to clients with a CIBC U.S. Dollar Current Account.
10 Three dormant (inactive) account notices will be sent to you, the first after two years, the second after five years and the third after nine years. Charges will only be levied if you do not complete and return the acknowledgement on the notice, or reactivate your account, within the time frame specified on the notice.
11 Fees also apply to wire payments initiated in any other way. To learn more, talk to your CIBC business advisor.
12 Other fees and charges may also apply as a result of a deposit being charged back to your account.
Trademarks
General terms and conditions
- Cheques or debits transacted at your CIBC Banking Centre may not be included with the account statement.
- Cheques deposited will be credited subject to final payment. We undertake to exercise reasonable diligence to collect cheques, but are not responsible for any delay, notice or failure to collect.
- You may make deposits at any CIBC Banking Centre which accepts over-the-counter business deposits (each a “depository location”). All deposits made at a depository location will be credited to one or more of your accounts (each a “designated account”). Your branch of account for any deposits made at a depository location will continue to be the CIBC Banking Centre which maintains the designated account to be credited with your deposits. Each deposit made at a depository location, through a teller processing for same day value, will be processed for credit to the related designated account as of the same business day. Deposits made through a teller not processed for same day value will be processed for credit as of the next business day. Saturdays, Sundays and holidays that CIBC is closed are not business days for this purpose. Cash withdrawals are not permitted and cheques cannot be cashed or certified at depository locations other than your branch of account. You authorize CIBC to debit your designated account for any returned item pertaining to deposits previously processed.
- In most cases, deposits, withdrawals and other transactions done at a CIBC Banking Centre or CIBC ATM after 6:00 p.m. local time, and any telephone banking and online banking transactions done after 6:00 p.m. Eastern Time will be processed the next business day.
- Monthly account, transaction and items deposited fees are calculated for the calendar month up to and including the final business day of the month. Such fees are dated the final calendar day of the month but are not posted until the second business day in the following month.
- U.S. dollar coins deposited or exchanged will be treated as if they are Canadian dollar coins.
- All fees are subject to GST/HST/QST and PST where applicable.
- Please note: In some instances, different charges or interest rates, separately negotiated between CIBC and the individual client, may apply. Other terms and conditions applicable to your account are set out in the account agreements or in the agreement respecting the particular service.
- Charges for services not contained in this summary may be obtained from a CIBC business advisor.
- Digital or electronic representations of cheques and other Instruments, or the relevant information from the cheque or instrument, may be made or captured and used by financial institutions involved in the exchange and clearing of payments in Canada and elsewhere, in which case the original paper item may be destroyed and not returned to you. CIBC is entitled to act upon such a representation or information for all purposes as if it were the original paper item. CIBC and other financial institutions may reject any cheque or other instrument that does not comply in all respects with all applicable bylaws, regulations, rules and standards of CIBC and the Canadian Payments Association.