CIBC Personal Loan

This loan helps you achieve your goals now - take a vacation, buy furniture, make an investment - and know your loan will be paid off within a set period of time.

When you have a specific purpose in mind, a CIBC Personal Loan can provide the funds to make it happen. You have the flexibility to choose either fixed or variable interest rates, the frequency of your payments, and the term over which you'd like to repay the loan.

Apply online, call Telephone Banking at
1-866-525-8622 or visit one of our branches.

Is it for you?

CIBC Personal Loan could be for you if any of the following apply:

You want to renovate or purchase a big-ticket item for your home
You find it easier to budget with a specific monthly payment amount
You want a lower rate by securing your loan against the equity in your home or other assets
You want to establish your credit rating

Key benefits

Saves you money	Pay off all or part of the loan at any time without penalty Cut interest costs by making more frequent payments Securing your loan may lower your interest rate, and may give you access to more money
Convenient	A fully automated process speeds approvals An Electronic Funds Transfer (EFT) can automatically make scheduled payments from your CIBC account, at no charge You can also make payments in person at any CIBC branch
Flexible	Fixed or variable interest rate Weekly, bi-weekly, semi-monthly or monthly payments to coincide with your pay period Borrow a minimum of $3000

Useful information:

There are no costs to apply.
Variable Rate Loans are based on CIBC Prime* lending rate.

Optional Creditor Insurance for CIBC Personal Loans is available as follows:

Life Insurance for CIBC Personal Loans**

Do you...

Have personal liability for a CIBC personal loan (as a borrower or co-borrower)?
Need protection for your family in the case of an unforeseen event?

Then consider Life Insurance for CIBC Personal Loans, it might be the right product for you.

Life Insurance for CIBC Personal Loans protects your family or dependents by reducing or paying off the outstanding principal balance of your insured CIBC personal loans, plus up to 6 months of accrued loan interest as charged by CIBC between the date of death and the date the claim benefit is paid, should you or your insured co-borrower die.

Disability Insurance for CIBC Personal Loans**

Do you...

Have personal liability for a CIBC Personal Loan (as a borrower or co-borrower)?
Think you would not be able to make your loan payments if you were unable to earn your usual salary?

Then consider Disability Insurance for CIBC Personal Loans, it might be the right product for you.

Disability Insurance for CIBC Personal Loans makes your loans regular payment amount of principal and interest, as documented on your CIBC Personal Borrowing Agreement, or if renewed, the latest Loan Renewal Agreement document, plus any applicable insurance premiums on your insured CIBC Personal Loan(s) in the event that you are unable to work due to a disability.

CIBC Payment Protector Insurance for CIBC Personal Loans**

Do you...

Have a personal liability for a CIBC Personal Loan (as a borrower or co-borrower)?
Worry about making your loan payments if you were unable to earn your usual salary as a result of disability or job loss?

Then consider CIBC Payment Protector Insurance for CIBC Personal Loans, it might be the right product for you.

CIBC Payment Protector Insurance for CIBC Personal Loans combines Disability Insurance and Job Loss Insurance into one insurance package (described below):

Job Loss
The Insurer pays the interest payable on the loan to CIBC until you are no longer eligible for Job Loss benefits, up to a maximum period of six months for each Job Loss occurrence. Any insurance premiums owing during the Job Loss claim period are waived. This means that the Loan's scheduled payments will be delayed for the Job Loss claim period and the term of the loan will be extended by the time period of each delay. You will be responsible for the loan's scheduled payments (including principal, interest & insurance premiums) during the extended period of the loan.
Disability
Makes your loans regular payment amount of principal & interest, as documented on your CIBC Personal Borrowing Agreement, or if renewed, the latest Loan Renewal Agreement document, plus any applicable insurance premiums on your insured CIBC Personal Loan(s) in the event that you are unable to work due to a disability.

For information on any of the insurance products above, call Telephone Banking toll-free at 1-866-525-8622 or visit your branch.

Trademarks and Disclaimers

Applicants must meet all CIBC lending criteria. Certain conditions and restrictions apply. Products and their features may change at any time. This is a general description only; for more information and product terms and conditions, consult product brochures or call 1-866-525-8622.

* CIBC Prime is the variable rate of interest per year declared from time to time to be the prime rate for Canadian dollar loans made by CIBC in Canada. The interest rate on your loan will change whenever CIBC Prime varies.

** Underwritten by The Canada Life Assurance Company. A detailed summary of the terms, conditions, limitations, exclusions and other provisions are contained in your Certificate of Insurance, which you receive upon enrolment.

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