CIBC RRSP GIC (Redeemable)

The CIBC RRSP GIC (Redeemable) guarantees your principal and interest, while giving you the option to cash out at any time.

With the CIBC RRSP GIC (Redeemable), you deposit money with us for a period of 9 months to 3 years, and earn a guaranteed interest rate. At the end of the term we return the full amount of your deposit plus interest - guaranteed. If you need your money back sooner, you can withdraw your funds any time, at specified early redemption rates.

Interested in purchasing or contributing to a CIBC RRSP GIC?

Call Telephone Banking1 at 1-800-465-3863 or visit one of our branches.

Purchase or Contribute
Type cashable
Minimum investment $500
Terms available 9 months to 3 years
Access to funds You can withdraw some or all of the funds on any business day prior to maturity at specified early redemption rates.
  • For terms of one year and less, simple interest is paid at maturity.
  • For terms over 1 year, interest is compounded annually and paid at maturity.
Fees There are no fees unless you transfer all or part of your RRSP funds to another financial institution, in which case a $100 fee will apply.

Interested in a non-registered GIC?
Consider a CIBC Redeemable GIC.
For RRIF/LIF portfolios

We recommend the CIBC RRIF GIC and LIF GIC.

Interested in an TFSA GIC?
Consider a CIBC TFSA GIC (Redeemable).

Is it for you?

The CIBC RRSP GIC (Redeemable) could be for you if:

  • You want a secure RRSP investment.
  • You are setting registered funds aside to meet your future retirement goals.
  • You want the option to withdraw your funds at any time.

Useful Information

  • While redeemable GICs generally pay less interest than non-redeemable GICs, they do allow you to cash out before maturity, at early redemption rates. If you may need access to some but not all of your funds, consider placing some money in a CIBC RRSP GIC (Redeemable), and the rest in a CIBC RRSP GIC (Non-Redeemable). This maximizes your interest rate earnings, while giving you the liquidity you need. Other GICs offering early access include the CIBC Flexible RRSP GIC or CIBC Cashable Escalating Rate RRSP GIC.

1 To buy through Telephone Banking or online, you need to have a CIBC bank account or CIBC GIC already.