CIBC Variable Rate GIC

About the CIBC Variable Rate GIC

With a CIBC Variable Rate GIC, you deposit money with us for 1 year. At the end of the term, we return your deposit, guaranteed. During the term, your annual interest rate will automatically be adjusted one day after the CIBC Prime Rate changes and you will have the flexibility to withdraw funds at any time - with full interest earned - after 30 days.

Type
cashable

Minimum investment
$1,000

Terms available
1 year

Access to principal
You can access your money at any time. Prior to maturity, there is a minimum withdrawal amount based on your original investment.

Interest

• The interest rate is linked to the CIBC Current Prime Rate and will change one day after the CIBC Prime Rate changes
• Simple interest is paid at maturity
• Larger balances are generally rewarded with higher interest rates
• In the event of early withdrawal, full interest earned is paid after only 30 days
• If you withdraw funds within the first 30 days, no interest is paid

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