CIBC RRIF GIC

A Registered Retirement Income Fund (RRIF) GIC allows funds transferred from an RRSP to remain tax-sheltered while continuing to earn tax-deferred income, as long as those funds remain in your RRIF.

The CIBC RRIF GIC allows you to safely lock in your investment for 6 months to 5 years, with guaranteed principal and interest, as well as to access your funds any time (a legislated minimum amount must be withdrawn each year).

		Call Telephone Banking1 or visit your branch.

Minimum investment	$500 per RRIF GIC (minimum balance of $5,000 is required to open a CIBC RRIF account)
Terms available	6 months to 5 years - 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 over a year, interest is compounded on each anniversary 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

		Consider a CIBC Short-Term GIC or CIBC Long-Term GIC.

Is it for you?

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

• You want the safety and security of a fixed rate of return
• You want to keep making active investment decisions to maximize growth inside your plan
• You want to be able to change the amount you withdraw at any time, or take out a large lump sum if you wish (a legislated minimum amount must be withdrawn each year)

Key benefits

Saves you money	You earn tax-sheltered, compound interest Compound interest can be renewed with maturing principal. Or, if you prefer, when the GIC matures, compounded interest can be put into a RRIF Daily Interest Savings Account An existing CIBC RRSP GIC can be transferred "intact" before maturity to a CIBC RRIF
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

• 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.

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