1 The annual rates shown are for at-maturity interest payment option and may change without prior notice. Rates are fixed for each GIC’s term. The minimum investment is $500. To open a CIBC RRIF or LIF account, you need a minimum balance of $5,000.
Interest calculation: For terms of 1 year or less, simple interest is paid at maturity. For terms over 1 year, compound interest is calculated annually and paid at maturity. If a GIC is redeemed before maturity to transfer funds to the same account type at a different financial institution, no interest will be paid and a transfer fee will apply.