High Interest Business Savings Account New Deposits Promotion – Terms and Conditions

Version Date: April 7, 2025

By opting-in to participate on or before July 16,2025 you may be eligible to the Coast Capital Savings Federal Credit Union High-Interest Business Savings Account New Deposits Promotion (the “Promotion”).  

During the Promotion Period, you can earn a 3.00% per annum Bonus Interest rate on Eligible Deposits of up to CAD 20,000,000 in your Canadian Dollar Coast Capital High-Interest Business Savings Accounts (“HIBSA”). Bonus interest is earned only from the date you opt-in to the Promotion and until the end of the Promotion Period.

Please read these Terms and Conditions carefully as they will explain how the Promotion will be applied. 

Definitions

The phrases used in these Terms and Conditions; are defined as set out below: 

1. “Bonus Interest” means the additional interest earned on Eligible Deposits of up to CAD 20,000,000 in your HIBSA during the promotion period. See “EXAMPLES” section below for how Bonus Interest earned on Eligible Deposits is calculated. 
2. “Coast Capital” means Coast Capital Savings Federal Credit Union.
3. “Eligible Deposit” means the lower of the New HIBSA Deposits and the New Deposits, calculated daily starting from our close of business on April 29, 2025 and until the end of the Promotion Period. If the lower of the New HISA Deposits and New Deposits is negative, the daily Eligible Deposit will be zero. 
4. “HIBSA” means your Coast Capital Canadian dollar High-Interest Business Savings Account(s) and does not include the Coast Business Savings account, Business Savings Trust account, personal High-Interest Savings Account(s), foreign currency, personal savings or other accounts or accounts under a registered plan such as (but not limited to) Tax-Free Savings Account, Registered Retirement Savings Plan, Registered Retirement Investment Fund or First Home Savings Account. 
5. “HIBSA balance” means the total value, in Canadian Dollars, of your HIBSA. 
6. “New HIBSA Deposits” means the change in the daily closing HIBSA balance, calculated starting from our close of business on April 29, 2025 and until the end of the Promotion Period. 
7. “New Deposits” means the change in the daily closing Total Deposits balance, calculated starting from our close of business on April 29, 2025 and until the end of the Promotion Period. 
8. “Promotion” means this ‘High-Interest Business Savings Account New Deposits Promotion’ running during the Promotion Period. 
9. “Promotion Period” means April 30, 2025 to August 31, 2025 unless we terminate it at an earlier date. Bonus Interest is earned during the Promotion Period only. 
10. “Regular Interest” means interest earned at the standard posted (non-Bonus Interest) interest rate on a HIBSA based at the rate that applies to the balance tier. 
11. “Total Deposits” means, during the Promotion Period, the total value in Canadian dollars of all your eligible business chequing, savings, term deposit, trust and investment accounts under the same business membership number with Coast Capital during the Promotion Period. For the purpose of calculating the total value, any foreign currency account balances will be held at par value. 
12. “We,” “our,” or “us” means Coast Capital and its affiliates. 
13. “You,” “your,” or “yourself” means you, our business member.

How to be eligible for the bonus interest

To be eligible for the Bonus Interest, you must satisfy the following requirements: 

1. You must opt-in to the Promotion by agreeing to these Terms and Conditions on or before July 16, 2025. For clarity, if you opt-in to the Promotion after July 16, 2025, you will not be eligible for the Bonus Interest. Only one signing authority on the business membership is required to opt-in. The opt-in date will be calculated from the date the first signing authority on the business membership opts-in to the Promotion.
2. You must be a current Coast Capital business member, including sole proprietorships. New business memberships (created during the Promotion Period), Quebec residents and businesses registered solely in Quebec are not eligible.
3. You must hold or open a HIBSA with Coast Capital and keep that HIBSA open during the Promotion Period. The following accounts are not eligible for the Bonus Interest: 

1. 1. Coast Business Savings accounts;
   2. Business Savings Trust accounts;
   3. Personal savings or other accounts;
   4. Foreign currency accounts;
   5. Accounts under a Registered Plan such as (but not limited to) Tax-Free Savings Account, Registered Retirement Savings Plan, Registered Retirement Investment Fund or First Home Savings Account;
   6. Accounts held jointly with another entity, business or individual; and
   7. Accounts held by your subsidiary or affiliate.

How to earn and receive bonus interest

To earn Bonus Interest on your Eligible Deposits, you must take the following actions: 

1. Deposit New HIBSA Deposits into your HIBSA account that is eligible for Bonus Interest. 

2. Ensure that your Total Deposits stay at or above your Total Deposits balance on April 29, 2025. 

3. Earn Bonus Interest on Eligible Deposits that are within your HIBSA account at the annual rate of 3.00% from the date you opt-in to the Promotion and until the end of the Promotion Period. Bonus interest is calculated daily on the daily closing balance of Eligible Deposits and is paid monthly. Bonus interest will be earned on Eligible Deposits in your HIBSA, in addition to Regular Interest that is paid on deposits in the HIBSA. The sum of regular interest and Bonus Interest will determine the total interest payable during the Promotion Period. 
4. Bonus Interest payments will be shown as separate transactions from your Regular Interest payments on your monthly HIBSA statements. 
5. If you have multiple HIBSAs under the same business membership: 
   1. Bonus Interest is earned on Eligible Deposits in each HIBSA but will be added together and paid to the HIBSA with the highest balance.
   2. Bonus Interest is earned on Eligible Deposits of up to a combined CAD 20,000,000 across all your HIBSAs. 
6. Any calculated but unpaid Bonus Interest on Eligible Deposits in a HIBSA will be forfeited if that HIBSA is closed before the Bonus Interest is paid. For clarity, if you close your HIBSA during the Promotion Period, you will not be eligible for Bonus Interest even if you subsequently reopen the HIBSA during the Promotion Period.

Restrictions of bonus interest

1. Deposits made to eligible HIBSAs at the close of business day on or before April 29, 2025 are not considered New Deposits eligible for this campaign.
2. Deposits made to eligible HIBSAs at the close of business day on or after September 1, 2025 are not considered New Deposits eligible for this campaign.
3. Total Deposits are calculated based on the holdings in all accounts under your Coast Capital business membership.

Other conditions

1. Except as set out in the Promotion, all regular terms, conditions and Regular Interest applicable to each HIBSA will remain in effect during and after the promotion period. For this and other information on your savings accounts please visit: https://www.coastcapitalsavings.com/business/day-to-day-banking/savings-accounts.
2. Coast Capital reserves the right to refuse or terminate any business member’s participation in this Promotion if Coast Capital has concerns about or discovers abuse of the proper and intended operation of the Promotion, including the moving of funds between business and/or personal memberships.
3. This Promotion may be amended, extended or cancelled at the sole discretion of Coast Capital at any time without prior notice.

Examples

How Bonus Interest is calculated during the Promotion Period:

These examples are provided for illustrative purposes only. Each row represents an example of a change on one day during the promotion period. Figures represent balance changes in respective accounts during the promotion period.

Example #1

Example #2

* Given the New Deposits is a negative number, the Eligible Deposits amount is calculated to be $0.

^‡ Although the Cumulative New HIBSA Deposits and the Cumulative New Deposits amount is $21 million or $21,000,000.00, the maximum Bonus Amount for the Promotion is $20,000,000.