CIBC RRIF Daily Interest Savings Account
CIBC RRIF Daily Interest Savings Account (DISA) provides you access to your retirement income savings at any time.
A Registered Retirement Income Fund (RRIF) allows funds transferred from an RRSP to remain tax-sheltered while continuing to earn tax-deferred income, as long as those funds remain in your RRIF. Consider a CIBC RRIF DISA when you need to convert retirement savings to income (a legislated minimum amount must be withdrawn each year).
Is it for you?
The CIBC RRIF DISA could be for you if any of the following apply:
- You want to earn competitive daily interest savings rates
- 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 annual amounts)
- Choose the schedule for your regular RRIF income payments so that your cash flow needs are covered.