CIBC Save-Up GIC
CIBC Save-Up GIC lets you schedule regular contributions from your everyday CIBC bank account into a short-term investment.
With a CIBC Save-Up GIC, you decide how often and how much you want to contribute. Your interest is calculated with each contribution, so you benefit from continuous compounding. When it's time to cash out, your accumulated contribution amount and all earned interest are returned to you on your next scheduled contribution date.
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Call Telephone Banking1 or visit your branch. | |
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| Type | non-redeemable |
| Minimum investment | $500 initially, followed by regular deposits of as little as $25 to as much as $10,000 |
| Terms available | 30 to 90 days (contribution cycle) - View terms available now |
| Access to funds | on any contribution date |
| Interest | calculated and added to your principal on each contribution date |
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Is it for you?
The CIBC Save-Up GIC could be for you if any of the following apply:
- You want a secure investment.
- You need a simple "hassle-free" way to save for a specific goal (car, tuition, home purchase or renovation), or just for a rainy day.
- You like the discipline of a regular investment plan.
- You want to keep funds separate from your everyday bank account and earn a higher rate of interest than a regular savings account.
Useful information:
- Once you have accumulated a significant amount in your CIBC Save-Up GIC, consider transferring all but $500 to another GIC that earns a higher interest rate.
- The maximum value of the Save-Up GIC is $250,000 (principal and interest).
1 To buy through Telephone Banking, you need to have a CIBC bank account or CIBC GIC already.
Rates
Investing information
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