The CIBC Cashable Escalating Rate GIC offers guaranteed premium returns, rates that increase each year, and access to your money on each anniversary date or up to 7 days after.
With a CIBC Cashable Escalating Rate GIC, you deposit money for 3 or 5 years, at guaranteed interest rates. Your original investment amount is always guaranteed in full - even if you withdraw prior to maturity.
3 and 5 years
Access to funds
You can withdraw all or some of your money (minimum $500) on each anniversary date - or up to 7 days after -and still earn interest*
At least $500 in principal must remain on deposit after a partial withdrawal; otherwise, the full balance of the GIC will be redeemed
If you redeem within 7 days after an anniversary date, you get interest to the redemption date based on the preceding year's (years') interest rate(s) disclosed at the time of purchase
Rate increases each year of the term
Two interest payment options are available:
Simple interest: paid annually
Compound interest: compounded annually and paid at maturity
Is this GIC right for your business?
The CIBC Cashable Escalating Rate GIC could be right for your business if any of the following apply:
You want superior rates over a three- or five-year term
You want the option of cashability
You seek the benefit of an escalating rate each year
You want a guaranteed return and 100% protection of your investment
Principal and interest are automatically renewed unless you instruct otherwise prior to maturity