CIBC has around 1,070 branches in different locations in Canada and is considered one of the Big Five banks in the country. It offers clients three business options such as capital markets, retail and business banking, and wealth management. You can make use of their services by online banking, mobile banking, telephone banking, and using ATMs. All savings accounts are backed by Canada Deposit Insurance Corporation (CDIC) insurance.
You can start this account with a minimum deposit of $25 and begin to earn interest right away. You won’t incur any taxes on this account and use the no-charge withdrawals facility at any time.
CIBC Advantage for Youth:
This savings account is designed to target clients of ages between 0 and 18 years. Users can make limitless transactions and earn rates of interest that are more attractive as compared to competing banks.
CIBC Premium Growth Account for Seniors:
Available for citizens of ages 60 and above, this savings account has no-cost Interac e-Transfers or usage fee. Although you may earn only a modest rate of interest, you can avail of other benefits such as two free transactions a month with $1.50 fee for each subsequent transaction.
CIBC Premium Growth Account:
You’ll earn only a modest interest rate on this savings account. But, you can avail of no monthly charges. Debit purchases, payments, withdrawals, and transfers can incur transaction charges.
CIBC Bonus Savings Account:
You need not maintain a minimum balance in this account. However, you can avail of the tiered interest rate system that allows you to earn double the interest on minimum balances of $3,000. While there are no monthly charges, and one free transaction each month, you’ll incur fees on other transactions.
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