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CIBC and RBC promo savings rates 4.5/4.2%
December 10, 2022
4:06 pm
NCC1701Z
Lower Mainland
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Good place to park some cash for 3-4 months until GIC rates top out

CIBC will require an additional $200/month deposit to get the full 4.5%. $5 fee to withdraw but free to transfer to another acct

https://www.cibc.com/en/special-offers/smart-savings-bonus-interest.html

December 10, 2022
4:52 pm
Doug
British Columbia, Canada
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NCC1701Z said
Good place to park some cash for 3-4 months until GIC rates top out

CIBC will require an additional $200/month deposit to get the full 4.5%. $5 fee to withdraw but free to transfer to another acct

https://www.cibc.com/en/special-offers/smart-savings-bonus-interest.html  

Thanks for the share, but ouch, I don't like those top-line conditions. A requirement to contribute additional funds every month and a $5.00 debit transaction fee.

I think Simplii Financial, a division/branch of CIBC, has a comparable new net money promo offer with less onerous conditions.

Cheers,
Doug

December 10, 2022
5:03 pm
HermanH
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And only for NEW e-savings accounts. Be wary.

December 10, 2022
5:35 pm
NCC1701Z
Lower Mainland
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Doug said

Thanks for the share, but ouch, I don't like those top-line conditions. A requirement to contribute additional funds every month and a $5.00 debit transaction fee.

I think Simplii Financial, a division/branch of CIBC, has a comparable new net money promo offer with less onerous conditions.

 

I didn't like the $5 fee either but you can transfer to a chequing acct free

Simplii is only until Jan 31 so less than 2 months

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