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CIBC

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

  • Last Updated:
  • Mar 26th, 2019 11:08 am
Newbie
Sep 11, 2018
15 posts
242 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
105 replies
Deal Addict
Aug 24, 2011
1120 posts
480 upvotes
MTL/TO
Just got an email for exact same offer with tangerine.
Member
User avatar
May 27, 2017
346 posts
372 upvotes
Calgary, AB
Smiling Face With SunglassesMoved all savings from EQ to CIBC!
TrueRFD
Sr. Member
Jan 3, 2013
919 posts
475 upvotes
Mississauga
joshua18 wrote: 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
175 posts
35 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.
Member
User avatar
May 27, 2017
346 posts
372 upvotes
Calgary, AB
ElDudeorino wrote: 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
TrueRFD
Newbie
Jul 30, 2012
25 posts
34 upvotes
GTA
This does not include registered accounts (tfsa) ?
Deal Fanatic
User avatar
Oct 19, 2003
5504 posts
690 upvotes
Ugh. I just opened an eSavings account last week. This sucks.
This space for rent.
Deal Addict
User avatar
May 22, 2006
2704 posts
1593 upvotes
Toronto
They charge $5 for transactions.. i.e. transferring money out? Did I read that right?
Deal Addict
Jan 29, 2017
3872 posts
2505 upvotes
GunnerX wrote: 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 Guru
May 23, 2003
10229 posts
1652 upvotes
GTA
ElDudeorino wrote: 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
874 posts
63 upvotes
905
Anything to note when comparing this to Meridian's 3.15%? It's for 6 months plus it includes TFSA.
Heatware
100% BST Feedback
Jr. Member
Feb 2, 2008
166 posts
21 upvotes
esq05 wrote: 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).
Deal Addict
User avatar
Nov 19, 2014
1781 posts
2401 upvotes
GPS - error
Sundin wrote: 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 :)
Deal Addict
User avatar
Nov 19, 2014
1781 posts
2401 upvotes
GPS - error
Can anyone get that rate? I'm already with CIBC but no savings accounts ...

Also can I sign up online ?
Deal Addict
User avatar
Mar 23, 2003
4676 posts
1285 upvotes
Hamilton
GunnerX wrote: Ugh. I just opened an eSavings account last week. This sucks.
if you haven't put your money in yet, it still works. Read the terms.
Newbie
Jun 5, 2017
90 posts
103 upvotes
Vancouver
How come I read only up to $5000 not $5000000?
Deal Fanatic
User avatar
Oct 19, 2003
5504 posts
690 upvotes
sidshock wrote: if you haven't put your money in yet, it still works. Read the terms.
Yeah, I already did lol.
This space for rent.
Newbie
Mar 19, 2013
87 posts
27 upvotes
damn how is tangerine people getting them to match? just signed up a week ago for 2.75% 6 months but when i call they always say we cant do that then manager says same thing

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