Business Chequing Accounts Interest Rates
| CAD and USD Business Chequing Premium | USD Business Chequing Elite | CAD Business Chequing Elite | |
|---|---|---|---|
| Interest Rate | Effective September 15, 2012 | Effective June 4, 2018 | Effective June 4, 2018 |
| First $20,000.00 (balance between $0.00 and $20,000.00) | 0.00% | 0.00% | 0.00% |
| Next $30,000.00 (balance between $20,000.01 and $50,000) | 0.00% | 0.10% | 0.10% |
| Over $50,000.00 (balance $50,000.01 and above) | 0.00% | 0.10% | 0.20% |
| Interest calculation | Daily, on closing balance | Daily, on closing balance | Daily, on closing balance |
| Interest payment | Monthly | Monthly | Monthly |
| Monthly Administrative Fees and Rebates | $5.00 | $24.95 Free with minimum Daily closing balance of $20,000.00 | $24.95 Free with minimum Daily closing balance of $20,000.00 |
All interest rates are expressed on a per annum basis and are subject to change any time without notice. Interest on Business Chequing Elite Account is calculated on daily closing balance and paid monthly on portions of the balance within each tier based on the interest rate for that tier. The first interest payment is credited in the month following the month in which the account is opened.
Fees are charged, and interest is paid, in the currency of the account.
Refer to Disclosure Statement of Fees and Charges for Business Accounts