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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
- Principal and interest are conveniently automatically renewed unless you instruct otherwise prior to maturity
- Available as a non-registered CIBC Cashable Escalating Rate GIC or as a CIBC Cashable Escalating Rate TFSA GIC
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.
Tools and Resources
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RRSP GICs
- Flexible
- Cashable Escalating Rate
- Redeemable
- Bonus Rate
- Escalating Rate
- Market Linked GICs
- Non-Redeemable
