The CIBC Redeemable GIC guarantees your principal and interest, while giving you the option to cash out at any time.
With the CIBC Redeemable GIC, you deposit money with us for 1 day to 7 years*, and earn a guaranteed rate of interest. At the end of the term, we return the full amount of your deposit - guaranteed - plus interest. If you decide you need your money back sooner, you have the option to withdraw your funds any time, at specified early redemption rates.
You have the flexibility to access your money at any time prior to maturity, at specified redemption rates
With partial early withdrawals, a certain amount must remain on deposit
On 1 to 364-day terms, interest is paid at maturity
On 1 to 7-year* terms, interest can be monthly, quarterly, semi-annual, annual, or at maturity
Is this GIC right for your business?
The CIBC Redeemable GIC could be right for your business if any of the following apply:
You want the option to withdraw your funds at any time
You want a secure investment
Larger balances are generally rewarded with higher interest rates
For terms of less than 1 year, simple interest is paid at maturity
For terms of 1 year or more, simple interest is paid when you select the monthly, quarterly, semi-annual or annual interest payment option; or, compound interest is calculated annually and paid at maturity
If you need access to some but not all of your funds, consider placing some money in a Redeemable GIC, and the rest in a Long-Term GIC