About the CIBC Variable Rate GIC

This is a 1-year term GIC where the annual interest rate is linked to the CIBC Prime Rate. This means that when the CIBC Prime Rate goes up, you earn more interest.

What makes this GIC different?
The interest rate is variable so it changes automatically, one day after CIBC Prime Rate changes. You also get the flexibility to cash your investment at any time.


Minimum investment

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.


  • 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

Is it for you?

This GIC is for you if you:

  • Are saving for something short-term like a wedding or home renovations
  • Might need access to funds within a year so being able to cash out is more important than earning a higher interest rate
  • Don’t have the time or desire to change investments when rates increase

Useful information

  • 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

Won’t need the money for a specific period of time?

Consider a CIBC Special Offer GIC

Want the benefit of investing in the markets, but none of the risk of losing your principle investment?

Consider CIBC Market Linked GICs

Interested in an RRSP GIC?

Consider a CIBC Flexible RRSP GIC

For RRIF/LIF portfolios

We recommend the CIBC RRIF GIC and LIF GIC

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