CIBC Variable Rate GIC
The CIBC Variable Rate GIC guarantees your principal, while offering you a variable interest rate that is linked to the CIBC Prime Rate and the option to cash out early prior to maturity.
With a CIBC Variable Rate GIC, you deposit money with us for 1 year. At the end of the term, we return your deposit, guaranteed. During the term, your annual interest rate will automatically be adjusted one day after the CIBC Prime Rate changes and you will have the flexibility to withdraw funds at any time – with full interest earned – after 30 days.
Type
cashable
Minimum investment
$1,000
Terms available
1 Year
Access to funds
You can access your money at any time. Prior to maturity, there is a minimum withdrawal amount based on your original investment.
Interest
- The interest rate is linked to the CIBC Prime Rate and will change one day after the CIBC Prime Rate changes
- Simple interest is paid at maturity
- Larger balances are generally rewarded with higher interest rates
- In the event of early withdrawal, full interest earned is paid after only 30 days
- If you withdraw funds within the first 30 days, no interest is paid
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Is it for you?
The CIBC Variable Rate GIC could be for you if any of the following apply:
- You want a variable rate investment
- You want the flexibility to withdraw funds at any time
- You want a secure investment
Useful information
- Principal and interest can be automatically renewed or deposited into your bank account
- This GIC is issued by CIBC and qualifies as collateral for loans
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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