Citizens Bank of Canada and Inhance Investment Management have launched a new high interest savings account that allows individuals to deposit their cash with security and convenience while providing them with a competitive annual interest rate of 3.85% and the ability to hold the deposits in their investment portfolios.

Deposits in a Citizens Inhance Cash Multiplier Account are held in an account opened at Citizens Bank of Canada, which means the funds are eligible for Canada Deposit Insurance Corporation coverage.

“We are very excited to be embarking on this joint venture with our sister company, Citizens Bank,” said Kerry Ho, Chief Executive Officer of Inhance. “There is a real demand for this product in the market today and we are pleased to be able to offer a new alternative for investors.”


“This is a natural product extension for us and we see a need for it in the market place. We believe this is an excellent option for a client’s cash deposits,” said Jason Farris, president and CEO, Citizens Bank, in a news release.

The account is available for purchase through eligible investment advisors across the country, with a minimum initial deposit of $5,000.

Citizens Bank of Canada is a Schedule I bank that offers 24 hour, seven-days-a-week service through the Internet and telephone. It is a wholly owned member of the Vancity Group.

Inhance Investment Management Inc. is a Canadian investment management company dedicated to being a leader in evolving the responsible investment arena. Inhance is a member of the Vancity Group.