† This is a combined bonus and regular annual interest rate paid on new deposits made to a CIBC TFSA Tax Advantage Savings Account®. The bonus and/or regular rates may change at any time without prior notice. The regular interest rate is earned on the full daily closing balance and paid monthly. For eligible accounts opened before the offer period, the bonus rate is earned only on the portion of the account’s daily closing balance that exceeds the closing balance on November 15, 2020. For eligible accounts opened during the offer period, the bonus rate is earned on the full daily closing balance. Bonus interest rate offer expires March 31, 2021. Bonus interest is calculated daily and paid monthly. Other conditions apply. TFSA holder is solely responsible for knowing what their TFSA contribution room is and not over-contributing, otherwise, penalty taxes may apply.
Read the full terms and conditions for the CIBC TFSA Tax Advantage Savings Account offer (PDF, 110 KB) Opens in a new window..
1 Make sure you stay within your contribution room. If you overcontribute to your TFSA, the extra amount will be taxed at 1% for every month it’s in your TFSA. For details, visit the Canada Revenue Agency Opens in a new window..
2 Your TFSA contribution room is the maximum amount that you can contribute to your TFSA. Since 2009, your TFSA contribution room accumulates every year you’re 18 years or older and a resident of Canada with a valid SIN at any time in the calendar year.
3 This does not apply to withdrawals to correct over-contributions.
4 A $100 fee applies if you transfer all or part of your TFSA funds to another financial institution.
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