‡ This is a combined bonus and regular annual interest rate paid on new deposits made to a CIBC TFSA Tax Advantage Savings Account® and/or a CIBC RRSP Daily Interest Savings Account. The bonus and/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 November 15, 2020. For eligible accounts opened during the offer period, the bonus rate is earned on the full daily closing balance. Bonus interest rate offer expires March 31, 2021. Bonus interest is calculated daily and paid monthly. Other conditions apply. TFSA holder or RRSP annuitant is solely responsible for knowing what their TFSA or RRSP contribution room is and not over-contributing, otherwise, penalty taxes may apply and RRSP contributions may not be deductible.
Read the full terms and conditions for the CIBC TFSA Tax Advantage Savings Account offer (PDF, 110 KB) Opens in a new window..
Read the full terms and conditions for the CIBC RRSP Daily Interest Savings Account offer (PDF, 25 KB) Opens in a new window..
1 A transaction includes cheques, withdrawals, transfers, pre-authorized payments, bill payments (including CIBC Credit Cards and CIBC Personal Lines of Credit) and debit purchases. For CIBC eAdvantage Savings Accounts, a transaction does not include transfers to your other CIBC personal bank account(s) and to your CIBC Personal Line(s) of Credit (except same-day transfers done over-the-counter in CIBC Banking Centres which will be treated as a transaction), and transfers to your CIBC Credit Card account(s). For all accounts, transfers to CIBC-branded loans (excluding CIBC Personal Lines of Credit), mortgages and investments (registered and non-registered) are free. "CIBC-branded” means any brand that has CIBC in its name and is offered by CIBC or its Canadian affiliates (and does not include CIBC Bank USA). Other fees (in addition to any transaction fee) include: withdrawals from non-CIBC bank machines (rebated for CIBC Smart Plus Accounts except the 2.5% administration fee on the converted amount of foreign currency ATM withdrawals), wire payments, Interac e-Transfer transactions (the Interac e-Transfer fee is waived for CIBC Smart Accounts, CIBC Smart Plus Accounts and for clients who are enrolled in CIBC Advantage for Youth, CIBC Smart for Students, CIBC Smart for Seniors (on the CIBC Smart Account) and CIBC Advantage for Students (on the CIBC Everyday Chequing Account)) and transactions in foreign currency (including cheques written in currencies other than the account currency).
2 Interest is calculated on each day's final balance and paid monthly. When each day's final balance falls in any of the first four tiers, your entire account balance earns the rate displayed for your balance's highest tier. The rate for the final tier only applies to the portion of the balance falling in that tier.
3 Interest is calculated on the full daily closing balance and is paid monthly. The interest rates quoted are annual rates. Interest rates may change at any time without prior notice.
4 You'll pay a $100 fee if you transfer all or part of your TFSA or RRSP funds to another financial institution.