About the CIBC Cashable Escalating Rate RRSP GIC

With the CIBC Cashable Escalating Rate RRSP GIC, you deposit money with us for 3 or 5 years, at guaranteed interest rates that increase each year. Your original investment amount is always guaranteed in full - even if you withdraw prior to maturity.


Is it for you?

The CIBC Cashable Escalating Rate RRSP GIC could be for you if:

  • You want competitive rates over a 3 or 5 year term
  • You want the option of cashability each year
  • You seek the benefit of an escalating rate each year
  • You want a guaranteed return and 100% protection of your investment


Useful Information

CIBC Cashable Escalating Rate RRSP GIC (3 year)

Investment Amount

Year 1

Year 2

Year 3

Effective Yield

$500 - $999,999

RDS%rate[4].RCSTEPRATE.Published(1_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RCSTEPRATE.Published(2_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RCSTEPRATE.Published(3_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RCSTEPRATE.Published(null,500.0_-_999999.99_CAD_Balance,11,1)(#R#)%

CIBC Cashable Escalating Rate RRSP GIC (5 year)

Investment Amount

Year 1

Year 2

Year 3

Year 4

Year 5

Effective Yield

$500 - $999,999

RDS%rate[4].RATE5RESC.Published(1_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RATE5RESC.Published(2_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RATE5RESC.Published(3_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RATE5RESC.Published(4_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RATE5RESC.Published(5_null_null_Year_T,500.0_-_999999.99_CAD_Balance,1,1)(#O3#)% RDS%rate[4].RATE5RESC.Published(null,500.0_-_999999.99_CAD_Balance,11,1)(#O3#)%

Access to funds

  • You can withdraw all or some of your money (minimum $500) on each anniversary date - or up to 7 days after and still earn interest.
  • At least $500 in principal must remain on deposit after a partial withdrawal; otherwise, the full balance of the GIC will be redeemed.
  • If you redeem within 7 days after an anniversary date, you get interest to the redemption date based on the preceding year's (years') interest rate(s) disclosed at the time of purchase.

Interest

  • Rate increases each year of the term.
  • Interest is compounded annually and paid at maturity.

Fees

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