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CIBC Bonus Rate RRIF GIC

The CIBC Bonus Rate RRIF GIC guarantees your principal and offers interest at a premium rate allowing you to maximize growth within your CIBC RRIF.

Interested in applying for a CIBC RRIF GIC?
Call Telephone Banking1 or visit your branch.
1-866-525-8622 toll free

Minimum investment $500 per RRIF GIC (minimum balance of $5,000 is required to open a CIBC RRIF account)
Terms available Selected short and/or long terms offered on a time-limited basis - View terms and interest rates available now
Access to funds
  • Cashable, in whole or in part, with no interest penalty in order to make scheduled payments or lump-sum cash withdrawals2
  • RRIF payments can be received: annually, semi-annually, quarterly, or monthly
Interest
  • For terms of 1 year or less, interest is paid at maturity
  • For terms of more than 1 year, interest is compounded annually and paid at maturity
Fees There are no fees, unless you transfer all or part of your RRIF funds to another financial institution, in which case a $25 fee will apply

Interested in a non-registered GIC?
Consider a CIBC Bonus Rate GIC.

Is it for you?

The CIBC Bonus Rate RRIF GIC could be for you if any of the following apply:

  • You want a secure fixed rate of return and a premium interest rate
  • You value the stability and security of a fixed-term investment for some or all of your RRIF portfolio

Key benefits


Flexible
  • Available on any transfers into a CIBC RRIF (with the exception of CIBC RRSP GICs converted to a CIBC RRIF GIC prior to maturity)
  • Also available on CIBC RRIF GIC renewals
Convenient
  • Automatically renews into a CIBC RRIF GIC of the same term, unless alternate instructions are provided prior to maturity
  • Easily keep track of your account with quarterly statements sent to you

Useful information

  • CIBC Bonus Rate RRIF GICs are not available in Self-Directed RRIFs and cannot be combined with any other offer.

  • Income payments are first drawn from your RRIF Daily Interest Savings Account, then from the CIBC RRIF GIC (Redeemable) or CIBC Bonus Rate RRIF GIC that has the lowest rate of interest, without an interest rate penalty.

    Income payments will then be drawn from CIBC Escalating Rate RRIF GICs, beginning with the GIC that has the lowest effective yield of the remaining term based on the number of days left to maturity.

    Stock Market Advantage RRIF GICs will be redeemed last; if there is more than one such GIC, the GIC with the shortest term to maturity is redeemed first; no interest or earnings will be paid on the portion of any Stock Market Advantage RRIF GIC that is redeemed before maturity.

  • If an income payment would result in any CIBC RRIF GIC having a remaining balance below $500, then the full remaining balance will be redeemed and transferred into your RRIF Daily Interest Savings Account.

Disclaimers

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.

1 To buy through telephone banking, you need to have a CIBC bank account or CIBC GIC already.

2 RRIF GICs cannot be cashed prior to maturity to change investment options, to purchase another GIC or to transfer funds to a RRIF at another financial institution.