1 The interest rate on Canadian dollar Business Overdrafts will change whenever CIBC's Prime Rate changes. CIBC's Prime Rate is the variable rate of interest per year declared by CIBC from time to time to be its prime rate for Canadian dollar loans made by CIBC in Canada. Personal guarantee required.
2 U.S. overdrafts are available to qualified customers in amounts up to the U.S. dollar equivalent of the approved CDN dollar credit limit. The interest rate on U.S. dollar variable rate overdrafts will change whenever CIBC's U.S. Base Rate changes. CIBC's U.S. Base Rate is the variable rate of interest per year declared by CIBC from time to time to be its base rate for U.S. dollar loans made by CIBC in the United States. Personal guarantee required.
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Products and their features may change at any time. This is a general description only. All loan, line of credit and Business Overdraft applicants must meet CIBC's lending criteria and are subject to credit approval. Limits will depend on an assessment of the application. Some conditions and restrictions apply.