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CIBC GICs review

Best for: New CIBC GIC buyers who want a promotional 1 or 2-year rate, or registered savers using a CIBC Investment Account.

By the CreditLab research team · Checked October 15, 2026

GIC

CIBC GICs

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The bottom line

CIBC’s Bonus Rate GIC pays a promotional 3.00% for 1 year and 3.20% for 2 years on new purchases, against posted rates of 2.45% and 2.55%. Registered savers can get 3.00% to 3.60% for 1 to 5 years on Non-Redeemable GICs in a CIBC Investment Account. The Flexible GIC is CIBC’s cashable choice at a 2.15% promotional rate, and CIBC charges no GIC fees.

Pros & cons

Pros

Promotional 3.00% 1-year and 3.20% 2-year rates
Higher registered-plan rates in a CIBC Investment Account
Flexible GIC can be cashed with interest after 29 days
No fees, and terms in RDSP and LIF plans

Cons

Promotional rates exclude renewals
Posted Bonus Rate GIC rates for 3 to 5 years are modest
Short terms are sold only at a banking centre or by phone
Monthly interest pays 0.25% less unless you’re 60 or older

LAB REPORT

Good value on a new 1 or 2-year GIC while the promotion runs, and worth checking the Investment Account rates if you’re saving in a registered plan. Plan ahead for renewal.

Suits you if

You’re buying a new 1 or 2-year GIC.
You save in an RRSP or TFSA at CIBC.
You want a cashable GIC with a promo rate.

Look elsewhere if

You want the promotional rate on a renewal.
You want a 30-day term bought online.

Credit Lab Expert

Our detailed review

CIBC GIC rates by term

We read these rates from CIBC’s website and rate service, last checked October 15, 2026. CIBC’s feed dates the Bonus Rate GIC rates to September 25, 2026. GIC rates change often, so confirm with CIBC before you buy.

CIBC’s main non-registered product is the Bonus Rate GIC. On the 1 and 2-year terms, CIBC adds a promotional bonus to the posted rate for personal clients buying new GICs, with interest paid at maturity. The bonus doesn’t apply to renewals, and CIBC doesn’t state an end date.

1 year: 3.00% promo (2.45% posted)
2 years: 3.20% promo (2.55% posted)
18 months: 2.50%; 3 years: 2.60%; 4 years: 2.70%
5 years: 2.75% posted
Short terms (30 to 270 days): 2.00% to 2.60%

Registered plan rates and how interest is paid

CIBC GICs can be held in a TFSA, RRSP, FHSA, RRIF, RESP, RDSP or LIF. CIBC posts higher rates on Non-Redeemable GICs held in a registered CIBC Investment Account: 3.00% for 1 year, 3.10% for 18 months, 3.20% for 2 years, 3.30% for 3 years, 3.40% for 4 years and 3.60% for 5 years, from a $500 minimum. Bonus Rate RRSP, TFSA, RRIF and LIF GICs are also available.

In non-registered accounts, terms under 1 year pay simple interest at maturity. Longer terms pay monthly, semi-annually or annually, or compound annually and pay at maturity. Monthly payouts pay 0.25% less (except for clients 60 and older) and semi-annual 0.125% less. Registered GICs over 1 year compound annually and pay at maturity.

Cashable, escalating and other CIBC GICs

The CIBC Flexible GIC is cashable on a 1-year term. It posts 2.00%, or 2.15% with the promotion on new purchases, and pays no interest on money withdrawn within 29 days. In a registered Investment Account, the CIBC Redeemable GIC pays 2.15% for 1 year; CIBC doesn’t publish its early redemption schedule on the rates page.

CIBC’s Escalating Rate GIC steps from 2.25% to 3.55% over 5 years, and the cashable version can be cashed on each anniversary. Other choices include the EasyBuilder ladder, a Variable Rate GIC at 1.75%, market-linked GICs and a USD Non-Redeemable GIC at 4.00% for 1 year.

Deposit insurance and how to buy

CIBC is a member of CDIC, and its GICs are eligible for CDIC coverage up to $100,000.

You can buy through CIBC Online Banking if you’re registered for Online and Mobile Banking and have a CIBC personal bank account. You can also call 1-800-465-3863 or visit a CIBC Banking Centre. Short terms and Bonus Rate RRIF and LIF GICs are sold only at a banking centre or by phone. Bonus Rate GICs renew into the same term, so check your renewal rate.

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Frequently Asked Questions

What is the CIBC Bonus Rate GIC promotion?

CIBC adds a promotional bonus to the posted rate on new 1 and 2-year Bonus Rate GICs. The 1-year pays 3.00% (2.45% plus 0.55%) and the 2-year pays 3.20% (2.55% plus 0.65%). It’s for personal clients and doesn’t apply to renewals.

Why are CIBC’s RRSP GIC rates higher?

CIBC posts separate rates for Non-Redeemable GICs held in a registered CIBC Investment Account. These run from 3.00% for 1 year to 3.60% for 5 years, above the posted Bonus Rate GIC rates.

Does CIBC have a cashable GIC?

Yes. The CIBC Flexible GIC is a 1-year cashable GIC paying 2.15% with the current promotion. You earn no interest on money withdrawn within 29 days of purchase.

Can I buy a 90-day CIBC GIC online?

No. CIBC sells its 30, 90, 180 and 270-day terms only at a banking centre or by phone. Longer Bonus Rate GICs can be bought through CIBC Online Banking.

Does CIBC charge less for monthly GIC interest if I’m a senior?

CIBC’s monthly payout rate is normally 0.25% lower than the annual rate, but that reduction doesn’t apply to clients 60 and older. Semi-annual payouts are 0.125% lower.

Does CIBC offer a US dollar GIC?

Yes. The CIBC USD Non-Redeemable GIC is held in a CIBC Investment Account, with terms from 1 month to 5 years. It pays 4.00% for 1 year and 4.10% for 5 years.

Are CIBC GICs insured?

Yes. CIBC is a CDIC member and says its GICs are eligible for CDIC coverage up to $100,000.

Sources

Rates come from CIBC GICs’s own site, checked October 15, 2026. GIC rates change often and can differ for registered accounts or larger deposits, so confirm the rate before you buy. See our methodology.