CIBC Business Overdraft - Fees and Details

Fee summary

Monthly fee¹:

$9.50

Plus other charges or fees, if applicable.

Setup fee:

$0

Renewal fee:

$0

Interest

Variable interest rate:

Pay interest only on the amount you use — up to the approved limit. The interest you pay is specified in your agreement with us. Current interest rates are subject to credit approval.

Secured overdraft interest rate:

Canadian dollar borrowings - CIBC Prime Rate² + 0.5% per year

U.S. dollar borrowings - CIBC U.S. Base Rate³ + 0.5% per year

For a secured business overdraft, either you or a guarantor can pledge a cash equivalent (such as a cashable GIC) to secure your overdraft. To do so, you or the guarantor will sign CIBC’s Standard Securities Pledge Agreement (in Quebec, a moveable hypothec). Costs related to the pledge will be charged to you or the guarantor.

Unsecured overdraft interest rate:

Canadian dollar borrowings - CIBC Prime Rate² + 5% per year

U.S. dollar borrowings - CIBC U.S. Base Rate³ + 5% per year

Repayment

Variable rate overdraft:

Pay interest only on outstanding balances.

CIBC Discretionary Business Overdraft

If we allow an overdraft, or an overdraft that exceeds your approved limit, you're responsible for paying discretionary business overdraft fees and interest. If you haven't made prior arrangements with us, we may refuse an overdraft, or an overdraft that exceeds your approved overdraft limit. We may return your cheque or pre-authorized debit and ask you to pay a non-sufficient funds (NSF) fee.

Discretionary business overdraft fee⁴:

$5.00

Discretionary business overdraft interest⁵:

Interest is charged on any overdraft amount that's not approved or exceeds your overdraft limit. The interest rate is a variable rate that's equal to CIBC's Standard Overdraft Rate as declared by CIBC from time to time. The current Standard Overdraft Rate is 21% per year.

Business overdraft fees and details

Fee summary

Monthly fee1:

Setup fee:

Renewal fee:

Interest

Variable interest rate:

Secured overdraft interest rate:

Unsecured overdraft interest rate:

Repayment

Variable rate overdraft:

CIBC Discretionary Business Overdraft

Discretionary business overdraft fee4:

Discretionary business overdraft interest5:

Monthly fee¹:

Discretionary business overdraft fee⁴:

Discretionary business overdraft interest⁵: