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CIBC Escalating Rate LIF GIC

The CIBC Escalating Rate LIF GIC offers guaranteed premium returns and rates that increase each year to maximize growth within your CIBC LIF.

With CIBC Escalating Rate LIF GICs, you deposit money with us at guaranteed interest rates. Your original investment amount is always guaranteed in full.

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

Minimum investment $500 per LIF GIC (minimum balance of $5,000 is required to open a CIBC LIF account)
Terms available 3 and 5 years
Access to funds
  • Cashable, in whole or in part, with no interest penalty in order to make scheduled payments or lump-sum cash withdrawals1
  • LIF Payments can be received: annually, semi-annually, quarterly, or monthly
Interest
  • Rate increases each year of the term
  • Interest is compounded annually and paid at maturity
Fees There are no fees, unless you transfer all or part of your LIF funds to another financial institution, in which case a $25 fee will apply

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

Is it for you?

CIBC Escalating Rate LIF GIC could be for you if any of the following apply:

  • You want a guaranteed return and 100% protection of your investment
  • You seek a premium rate of interest
  • You value the stability and security of a fixed term investment for some or all of your LIF portfolio

Key benefits


Flexible
  • Available on any transfers into a CIBC LIF (with the exception of CIBC RRSP GICs converted to a CIBC LIF GIC prior to maturity)
  • Also available on CIBC LIF GIC renewals
Convenient
  • Automatically renews into a CIBC Escalating Rate LIF 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 Escalating Rate LIF GICs are not available in Self-Directed LIFs and cannot be combined with any other offer.

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

    Income payments will then be drawn from CIBC Escalating Rate LIF 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 LIF 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 LIF GIC that is redeemed before maturity.

  • If an income payment would result in any CIBC LIF GIC having a remaining balance below $500, then the full remaining balance will be redeemed and transferred into your LIF 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 LIF GICs cannot be cashed prior to maturity to change investment options, to purchase another GIC or to transfer funds to a LIF at another financial institution. LIFs are subject to a maximum annual payment amount set by law.