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[CIBC] CIBC : esavings Promo Interest 2.3%

  • Last Updated:
  • Nov 6th, 2017 4:07 pm
[OP]
Newbie
May 24, 2010
79 posts
41 upvotes

[CIBC] CIBC : esavings Promo Interest 2.3%

CIBC has started a saving account promo of 2.3% interest until March 31, 2018. It can be useful for those that have maxed tangerine, EQ or lives in Quebec.

https://www.cibc.com/en/personal-bankin ... count.html

Warning, minimum of $5000 needed

Here are the terms and conditions:
https://www.cibc.com/content/dam/person ... 018-en.pdf
32 replies
Member
Jan 29, 2017
496 posts
479 upvotes
Interesting, seems like a lot of people here are expecting a good promo from CIBC for Simplii come Nov 1st. Anything less than this promo will be met with anger. :)
Deal Addict
May 21, 2004
1217 posts
359 upvotes
GTA
Originally I thought, sure, 2.3% is good. $5,000 balance... OK, I can live with that. Then you get into the FEES.... They charge for almost everything! Hmmm... Transfer your money to another CIBC account is free, yeah. But other transactions, such as Cheques, Withdrawals (including ATM), Transfers, Pre-authorized payments, Bill payments, Debit purchases, all incur $5 for each transaction! OUCH.
Member
Jan 31, 2008
357 posts
89 upvotes
Toronto
Britex wrote:
Oct 17th, 2017 2:57 pm
Originally I thought, sure, 2.3% is good. $5,000 balance... OK, I can live with that. Then you get into the FEES.... They charge for almost everything! Hmmm... Transfer your money to another CIBC account is free, yeah. But other transactions, such as Cheques, Withdrawals (including ATM), Transfers, Pre-authorized payments, Bill payments, Debit purchases, all incur $5 for each transaction! OUCH.
This is a savings account. You’re suppose to combo this with a chequing account and do your “banking” there. Free transfers to other cibc accounts ...
Jr. Member
Apr 11, 2012
113 posts
20 upvotes
Mississauga
Is this offer also available for existing eAdvantage saving account holder? The terms and conditions are kind of confusing to me.
If I transfer from my chequing to my existing eADV saving, will I able to take advantage of this offer?
Sr. Member
Jan 23, 2003
900 posts
40 upvotes
Mississauga
lilpoorpk wrote:
Oct 17th, 2017 3:17 pm
This is a savings account. You’re suppose to combo this with a chequing account and do your “banking” there. Free transfers to other cibc accounts ...
Yes, but I think his point is, it's a bad deal unless you already have a CIBC account because the fees will negate your extra interest gains. Yes, you can have a chequings account, but you need a minimum balance to waive the fees, which means you're not earning interest on that amount.

I'm using EQ Bank which offers the same 2.3% with no fees + 5 free interac transfers (comes in handy). For those who do decide to sign up with EQ Bank, don't forget to use a referral code for $25 bonus.
[OP]
Newbie
May 24, 2010
79 posts
41 upvotes
jaggu2001 wrote:
Oct 17th, 2017 4:28 pm
Is this offer also available for existing eAdvantage saving account holder? The terms and conditions are kind of confusing to me.
If I transfer from my chequing to my existing eADV saving, will I able to take advantage of this offer?
It's like tangerine's offers. Balance over the value at October 16th qualify for 2.3%. I don't know what is the regular interest (0.10%)?
[OP]
Newbie
May 24, 2010
79 posts
41 upvotes
frozenmelon wrote:
Oct 17th, 2017 4:51 pm
EQ bank still the hotter deal.
Only if you don't live in Quebec and have less then $100 000 to invest.
Jr. Member
May 3, 2008
133 posts
46 upvotes
Markham
Is this by invitation only or everyone with existing account qualifies too?
[OP]
Newbie
May 24, 2010
79 posts
41 upvotes
wongmb wrote:
Oct 17th, 2017 6:01 pm
Is this by invitation only or everyone with existing account qualifies too?
Seems to be everyone. I just stumbled on the page while checking if I could pay my line of credit with this account.
Sr. Member
Dec 7, 2009
752 posts
312 upvotes
Toronto and points e…
Thanks OP. Opened an account today and moved some tangerine money in.
Deal Addict
Jun 28, 2013
2128 posts
689 upvotes
YUL/YVR
For those that have maxed out EQ, etc offers, Manulife Bank offers 2.25% chequing account until April 30 2018. No minimum balance required.
Sr. Member
User avatar
Aug 1, 2008
807 posts
65 upvotes
Toronto
Sweet. I already have an EAS and have been slowly dumping money into it lol

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