† This is a combined bonus and regular annual interest rate paid on new deposits made to a CIBC RRSP Daily Interest Savings Account. The bonus or regular rates may change at any time without prior notice. The regular interest rate is earned on the full daily closing balance and paid monthly. For eligible accounts opened before the offer period, the bonus rate is earned only on the portion of the account’s daily closing balance that exceeds the closing balance on April 24, 2022 for TFSA and April 25, 2022 for RRSP. For eligible accounts opened during the offer period, the bonus rate is earned on the full daily closing balance. New deposits may not exceed the maximum allowable by law. Bonus interest rate offer expires March 31, 2023 for TFSA and March 31, 2023 for RRSP. Bonus interest is calculated daily and paid monthly and earned only until March 31, 2023 for TFSA and March 31, 2023 for RRSP. RRSP annuitant is solely responsible for knowing what their RRSP contribution room is and not over-contributing, otherwise, penalty taxes may apply and RRSP contributions may not be deductible. Tax references are based on assumption that tax rules are followed by account holder. Other conditions apply.
Read the full terms and conditions for the CIBC RRSP Daily Interest Savings Account offer (PDF, 115 KB) Opens in a new window.
Interest is calculated on the full daily closing balance and is paid monthly. The interest rates quoted are annual rates. The Regular Interest Rate may change at any time without prior notice.
1 Interest is calculated on each day’s final balance and paid monthly. Your entire account balance earns the rate displayed for your balance’s highest tier.
2 Rates are fixed for each GIC’s term. The minimum investment is $500 and maximum is $999,999. The maximum investment for online purchases is $999,999. To open a CIBC RRIF or LIF account, you need a minimum balance of $5,000.
Interest calculation: For terms of one year or less, simple interest is calculated and paid at maturity. For terms over a year, compound interest will be calculated annually and paid at maturity. If a GIC is redeemed before maturity to transfer funds to the same account type at another financial institution, no interest will be paid and a transfer fee will apply.
A Bonus Rate RRSP GIC will automatically reinvest into a Bonus Rate RRSP GIC for the same term. You can change reinvestment instructions anytime by visiting a CIBC Banking Centre Opens in a new window.. Changes can also be made by calling CIBC Telephone Banking at 1-800-465-3863 Opens your phone app.. For terms of 1 year or less, simple interest is calculated and paid at maturity. For terms over a year, compound interest will be calculated annually and paid at maturity.
3 Rates are fixed for each GIC’s term. The minimum investment is $500 and maximum is $999,999. The maximum investment amount for online purchases is $999,999.
Interest calculation: If funds are withdrawn or transferred within 29 days of purchase, no interest will be paid on those funds. 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. Simple interest is calculated and paid at maturity. If redeemed 30 days or more from the issue date, interest will be paid from the issue date to the date of redemption. For terms of 1 year or less, simple interest is calculated and paid at maturity. For terms over a year, compound interest will be calculated annually and paid at maturity.
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