CIBC LIF Daily Interest Savings Account

The CIBC LIF Daily Interest Savings Account (DISA) provides you access to your retirement income savings at any time (subject to the legislated limits on how much may be withdrawn each year).

A Life Income Fund (LIF) is a retirement income option for locked-in RRSPs and LIRAs and offers a flexible alternative to a life annuity. Like a RRIF, you must withdraw a minimum amount each year. But, there is also an annual maximum on your withdrawals. The aim of this legislated amount is to ensure that the LIF provides income for life.

Minimum investment

There is no minimum investment amount; however, a minimum balance of $5,000 is required to open a CIBC LIF account

Access to funds

Any time (as long as you withdraw at least the minimum amount you are required by law to withdraw each year and do not exceed the maximum annual withdrawal limit set by law)


Interest is earned on each day's final balance and paid semi-annually, with tax deferred compounding


There are no fees, unless you transfer all or part of your LIF funds to another financial institution, in which case a $100 fee will apply

Key benefits

Saves you money

  • Deposit funds any day of the month and you'll start earning interest right away


Easily keep track of your account with quarterly statements sent to you

Is it for you?

The CIBC LIF DISA could be for you if any of the following apply:

  • You want to earn competitive daily interest savings rates
  • You prefer to manage your own investments
  • You want to be able to change the amount you withdraw at any time, or take out a large lump sum if you wish (subject to the legislated minimum and maximum annual amounts)

Useful information

  • Choose the schedule for your regular income LIF payments so that your cash flow needs are covered.

Interested in applying for a CIBC LIF DISA?

Call Telephone Banking or visit your branch Opens in a new window..

1-800-465-3863 toll free

Interested in a TFSA GIC?

Consider a CIBC TFSA Tax Advantage Savings Account or a CIBC Flexible TFSA GIC.

Interested in a non-registered GIC?

Consider a CIBC Flexible GIC.