CIBC AgriInvest Account

The CIBC AgriInvest Account is an interest bearing account with no monthly account fees or day-to-day transaction fees. It is designed specifically for farmers participating in the Canadian federal government's AgriInvest Program.

As part of the program, the government will send an AgriInvest Account Initiation Form to all eligible farmers with an AgriInvest Personal Identification Number (PIN). This PIN is required to open a CIBC AgriInvest Account. For each eligible year, you will receive a Deposit Notice indicating the maximum allowable deposit that can be made by the deadline date in order to take advantage of the government's "matching" contribution feature.

You have the flexibility to withdraw the funds at any time from the account; however, withdrawals up to the government's matching contribution and any interest accrued are subject to taxation.

Key benefits

Matching Contributions

  • Your first annual deposit is matched by the government up to the maximum allowable amount

Pays Tiered Interest

  • The account provides monthly interest which is paid at the end of each calendar month.
  • Higher balances generally earn higher rates of interest

Convenience

  • Have access to your account 24 hours a day, 7 days a week through electronic banking channels

Record-Keeping Options

  • Printed account statements are available at the calendar quarter month ends (i.e. March, June, September, December)1
  • Detailed reporting and eStatements are available through CMO2

Is it for you?

Consider CIBC's AgriInvest Account if you:

  • Are a farmer or producer and are eligible to participate in the AgriInvest Program


Information you need to know:

  • The AgriInvest Personal Identification Number (PIN) indicated on the Account Initiation Form is mandatory when opening an AgriInvest Account
  • The AgriInvest deposit must be made by the deadline date indicated on the Account Initiation Form in order to receive the government's matching contribution
  • Only the initial deposit made into the CIBC AgriInvest Account will be matched by the government. Any excess or subsequent contributions can be accepted and will receive interest. They will not however be matched with additional government contributions
  • The CIBC AgriInvest Account pays interest on a tiered balance basis:
    • Calculated on the monthly average account balance
    • Paid at the end of each month
    • Rates of interest are determined by balance levels (i.e. tiers)
    • For a complete listing of tiers and corresponding interest rates please see Rates
  • Option available to add your CIBC AgriInvest Account to your CIBC Business Convenience Card for easy access to accounts through CIBC Telephone Banking and CMO
  • CIBC AgriInvest Accounts are for use by eligible farmers who participate in the government's AgriInvest program
  • Partners in a Partnership must each open a CIBC AgriInvest Account as an Individual to participate in the AgriInvest Program
  • No coin or foreign currency allowed through bank machine deposits
  • Overdraft protection is not permitted
  • Cheques are not permitted on the account

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