The Flexible Rate GIC is for you if:
- You have at least $1,000 to invest
- You plan to invest for 1 year
- You might need access to your money before maturity
- Principal and interest can be automatically renewed or deposited into your bank account
- This GIC is issued by CIBC and qualifies as collateral for loans
- You can access your money at any time.
- Depending on how much you invest, there is a minimum withdrawal amount if you want to withdraw before the GIC matures.
- Simple interest is paid at maturity
- Larger balances are generally rewarded with higher interest rates
- In the event of early withdrawal 30 days or more after the issue date, full interest to the date of redemption is paid
- If you withdraw funds within the first 29 days, no interest is paid