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[CIBC] 3% interest on New Balance for eSavings account until Mar 31, 2019

  • Last Updated:
  • Nov 10th, 2018 3:29 pm
[OP]
Newbie
Sep 11, 2018
2 posts
31 upvotes

[CIBC] 3% interest on New Balance for eSavings account until Mar 31, 2019

CIBC eAdvantage® Savings Account interest

regular rates 1.05% + bonus rates 1.95%* start from October 16, 2018

* The bonus and regular rates may change at any time without prior notice. The regular interest rate is earned on the full daily closing balance when the balance is $5,000 or more. For eSA accounts opened before the offer period, the bonus rate is earned on the portion of the account’s daily closing balance that exceeds the closing balance as at October 15, 2018 (the “New Balance”) up to a New Balance limit of $5,000,000. For eligible eSA accounts opened during the offer period, the bonus rate is earned on the full daily closing balance up to a balance limit of $5,000,000. Bonus interest rate offer expires March 31, 2019. Interest is calculated daily and paid monthly. Other conditions apply.

https://www.cibc.com/en/personal-bankin ... count.html
82 replies
Sr. Member
Aug 24, 2011
876 posts
284 upvotes
Montreal
Just got an email for exact same offer with tangerine.
Newbie
User avatar
May 27, 2017
26 posts
59 upvotes
Winnipeg, MB
Smiling Face With SunglassesMoved all savings from EQ to CIBC!
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Sr. Member
Jan 3, 2013
513 posts
153 upvotes
Mississauga
joshua18 wrote:
Oct 16th, 2018 3:18 pm
Just got an email for exact same offer with tangerine.
I called Tangerine today to see if they can match 3%. Agent said Marketing dept. would call me back within 2 business days. If they don't offer it to me I will move all my money out of Tangerine to CIBC since I already have several products with CIBC.
Jr. Member
Mar 24, 2010
142 posts
19 upvotes
Vancouver
I am interested, what is the best way to transfer money in and out without fees? Do they have a free chequing account.

I guess I can put money in by e-Transfer but it looks like the limits are only $3000 per day and $10000 per week!

If I just bring them a cheque, I can't tell what the fee is for them to deposit it in that account.
Newbie
User avatar
May 27, 2017
26 posts
59 upvotes
Winnipeg, MB
ElDudeorino wrote:
Oct 16th, 2018 4:37 pm
I am interested, what is the best way to transfer money in and out without fees? Do they have a free chequing account.

I guess I can put money in by e-Transfer but it looks like the limits are only $3000 per day and $10000 per week!

If I just bring them a cheque, I can't tell what the fee is for them to deposit it in that account.
Check out their 'Smart Account'. The monthly fee can be waived if your balance is $3,000 or more, and you make a recurring direct deposit or 2 pre-authorized payments each month.

https://www.cibc.com/en/personal-bankin ... count.html
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Deal Fanatic
User avatar
Oct 19, 2003
5086 posts
193 upvotes
Ugh. I just opened an eSavings account last week. This sucks.
This space for rent.
Deal Addict
User avatar
May 22, 2006
1721 posts
346 upvotes
Toronto
They charge $5 for transactions.. i.e. transferring money out? Did I read that right?
Deal Addict
Jan 29, 2017
1245 posts
916 upvotes
GunnerX wrote:
Oct 16th, 2018 7:48 pm
Ugh. I just opened an eSavings account last week. This sucks.
RBC also has a 3% promo and Tangerine seems to be matching 3% for 6 months as well.
Deal Fanatic
May 23, 2003
9168 posts
841 upvotes
GTA
ElDudeorino wrote:
Oct 16th, 2018 4:37 pm
I am interested, what is the best way to transfer money in and out without fees? Do they have a free chequing account.

Most of these high rate interest accounts let you link another bank account. You can then initiate a draw from that account in one shot. I know that tangerine said there is 2 million dollar limit on a single transfer. Not sure if the other institution has their own limits that could effect it or only the bank initiating the draw.

So, I am guessing CIBC will let you link with a void cheque to another account.
Sr. Member
User avatar
Jan 10, 2006
862 posts
60 upvotes
905
Anything to note when comparing this to Meridian's 3.15%? It's for 6 months plus it includes TFSA.
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Jr. Member
Feb 2, 2008
138 posts
7 upvotes
esq05 wrote:
Oct 16th, 2018 8:34 pm
They charge $5 for transactions.. i.e. transferring money out? Did I read that right?
A transaction includes cheques, withdrawals, transfers, pre-authorized payments, bill payments (including CIBC Credit Cards and CIBC Personal Lines of Credit) and debit purchases. For CIBC eAdvantage Savings Accounts, a transaction does not include transfers to your other CIBC bank account(s) using the transfer function on CIBC Online Banking, CIBC Mobile Banking, CIBC Telephone Banking and at CIBC ATMs. For all accounts, transfers to CIBC-branded loans (excluding CIBC Personal Lines of Credit), mortgages and investments (registered and non-registered) are free. Other fees (in addition to any transaction fee) include: withdrawals from non-CIBC bank machines, Interac e-Transfer transactions (the Interac e-Transfer fee is waived for CIBC Smart Accounts, CIBC PremierService Accounts and for clients who are enrolled in CIBC Advantage for Youth, CIBC Smart for Students, CIBC Smart for Seniors (on the CIBC Smart Account) and CIBC Advantage for Students (on the CIBC Everyday Chequing Account) and transactions in foreign currency (including cheques written in currencies other than the account currency).
Member
User avatar
Nov 19, 2014
469 posts
384 upvotes
Medicine Hat, AB
Sundin wrote:
Oct 16th, 2018 9:06 pm
Anything to note when comparing this to Meridian's 3.15%? It's for 6 months plus it includes TFSA.
It's a good deal, but Meridian isn't covered by CDIC if you care about that:
http://www.cdic.ca/en/about-di/what-we- ... mbers.aspx

I think it's covered by something else, but just something to keep in mind if it goes bankrupt :)

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