With a CIBC Long-Term GIC, you deposit money for 1 to 7 years* and earn a guaranteed rate of interest. The longer you keep the money invested, the higher the rate of interest you generally earn. At the end of the term, we return the full amount of your deposit plus interest - guaranteed.
$1,000 ($5,000 if you require monthly interest payments)
Can be paid into your bank account monthly, quarterly, semi-annually, or annually, giving you regular income
Or, interest can be calculated and added to your GIC principal each year, allowing you to earn interest on your interest
Is this GIC right for your business?
The CIBC Long-Term GIC could be right for your business if any of the following apply:
You want a secure investment with guaranteed returns
You want to put funds aside for future goals such as a major purchase
You are willing to lock in your deposit for a longer period so you can earn a higher rate of interest
You will not need access to your money before the GIC matures
Principal and interest can be automatically renewed or deposited into your bank account
For terms of less than 1 year, simple interest is paid at maturity
For terms of 1 year or more, simple interest is paid when you select the monthly, quarterly, semi-annual or annual interest payment option; or, compound interest is calculated annually and paid at maturity
This GIC is issued by CIBC Trust Corporation and qualifies as collateral for loans