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Our Savings Calculator will help you get to your savings goal faster by showing you how much you need to save and suggesting some convenient ways to grow your savings. CIBC advisors can help you with a personalized savings plan suited to your financial situation.
To meet your savings goal you will need to increase your contribution to .
Based on the information you provided you will need to increase your contribution to .
Due to the short time frame, you may want to consider a line of credit, which can help you reach your goal.
Look at your expenses to see if you can find some additional funds to boost your savings. Build your savings with a CIBC Bonus Savings Account.
If you keep your current contributions you will meet your savings goal by .
Start your savings with the Premium Growth Account.
A savings account offer can make your money work harder for you. Maximize your savings with a CIBC eAdvantage Savings Account, which pays high interest when your balance is $5,000 or more.
If you keep your current contributions you will have $ by .
Maximize your earnings by having your money grow tax free. Consider the CIBC TFSA Tax Advantage Savings Account. With this account you can earn a competitive, guaranteed high interest rate tax-free and you have access to your money anytime.
You may benefit from higher interest products such as GICs or Managed Portfolio Solutions. Talk to a CIBC advisor who can help you with a customized savings plan suited to your financial situation.
PLEASE NOTE: This calculator provides general information only; it does not provide specific tax advice. We recommend that you consult a CIBC advisor when planning for your financial goals. Amounts projected by the calculator are based on the information you enter and a variety of estimates and assumptions. Actual earnings and other factors will vary over time. As a result, CIBC cannot guarantee the results. You should repeat the analysis periodically with updated information and when important changes occur in life circumstances, needs or resources.
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