CIBC Cashable Escalating Rate TFSA GIC

The CIBC Cashable Escalating Rate TFSA GICoffers guaranteed premium returns, interest rates that increase each year, and access to your money on each anniversary date or up to 7 days after.

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

Type

Cashable

Minimum investment

$500

Terms available

3 and 5 Years

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
  • Other than during the annual redemption period referred to above, if a GIC is redeemed before maturity to transfer funds to a TFSA at another financial institution, no interest will be paid and a transfer fee will apply

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 TFSA funds to another financial institution, in which case a $100 fee will apply.

For RRIF/LIF portfolios

We recommend the CIBC Escalating Rate RRIF GIC  and CIBC Escalating Rate LIF GIC .

Interested in an RRSP GIC?

Consider a CIBC Cashable Escalating Rate RRSP GIC .

Interested in a non-registered GIC?

Consider a CIBC Cashable Escalating Rate GIC .

Is it for you?

The CIBC Cashable Escalating Rate TFSA GIC could be for you if any of the following apply:

  • You want attractive rates over a three- or five-year term
  • You want the option of cashability each year
  • You seek the benefit of an escalating interest rate each year
  • You want a guaranteed return and 100% protection of your investment


Useful information:

  • Principal and interest are conveniently automatically renewed into a CIBC Cashable Escalating Rate TFSA GIC for the same term unless you instruct otherwise prior to maturity

Interested in purchasing or contributing to a CIBC TFSA GIC?

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