CIBC Savings Accounts
In addition to your day-to-day expenses like shopping, bills and rent, you will have expenses in the future. You may want to visit your home country, buy a new car, or give your child a university education. When you put money into a savings account, you earn interest on that money. The sooner you start to save, the more interest you will earn and the faster your money will grow. To help grow your savings, you can even set up automatic deposits into your account.
CIBC has several savings accounts you can choose from. Interest rates will vary depending on the account’s features.
Earn high interest on every dollar. Set up regular, repeating transfers and reach your savings goals sooner. Plus, you can transfer to your other CIBC personal accounts for free when you use CIBC Online Banking, CIBC Mobile Banking, CIBC Telephone Banking and at CIBC ATMs. Interest is calculated on each day’s closing balance and paid monthly.
Give your child age 18 or younger a head start on saving with unlimited banking and free unlimited INTERAC e-Transfers®. Interest is calculated daily and paid out monthly.
If you regularly receive or make payments in U.S. dollars, this may be the right account for you. With this type of account, you can put in or take out U.S. dollars without changing currencies, and earn interest on every dollar. You can take out U.S. cash from any CIBC Banking Centre or CIBC U.S. currency bank machine. There is no monthly fee.