Hot Deals

[CIBC] CIBC eAdvantage Savings Account 2.1% Interest

  • Last Updated:
  • Aug 6th, 2020 8:50 pm
[OP]
Sr. Member
Jan 8, 2012
638 posts
417 upvotes
Williams Lake

[CIBC] CIBC eAdvantage Savings Account 2.1% Interest

Didn't see it, if a repost, my profound apologies.

CIBC eAdvantage Savings Account

0.20 base interest rate (which is subject to change at any time)
2.30 bonus interest rate for 120 days from opening date of account
1 million CAD maximum


Base rate now 0.10% and bonus rate reduced to 2.00%.

Interest calculated daily and paid monthly

No monthly account fee

$5 transaction fee
free transfers with other CIBC accounts

You're eligible for this offer if this is your first eAdvantage Savings Account.
Also, you have to be a Canadian resident who has reached the age of majority in your province or territory.

I could not find an end date for this promo.

BTW, for those of you having trouble getting past CIBC's address system, you can call in and they will open the account for you.
Last edited by wudtsilake on Aug 4th, 2020 2:12 pm, edited 1 time in total.
94 replies
Member
Jul 17, 2012
202 posts
109 upvotes
Van, BC
Thanks OP. Easily opened online with my existing CIBC accounts.
Member
May 18, 2017
428 posts
207 upvotes
Toronto, Ontario
What does $5 transaction fee entail?

If i transfer my money from and to my tangerine account, it'll cost $5 each way...?
Sr. Member
User avatar
Aug 5, 2007
803 posts
243 upvotes
whatyoulookinatbud wrote: What does $5 transaction fee entail?

If i transfer my money from and to my tangerine account, it'll cost $5 each way...?
Yes. From the fine print:
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 personal bank account(s) and to your CIBC Personal Line(s) of Credit (except same-day transfers done over-the-counter in CIBC Banking Centres which will be treated as a transaction), and transfers to your CIBC Credit Card account(s). For all accounts, transfers to CIBC-branded loans (excluding CIBC Personal Lines of Credit), mortgages and investments (registered and non-registered) are free.
Deal Addict
User avatar
Aug 11, 2009
3012 posts
350 upvotes
Don't be nosey
Can I open a rrsp account?
PSN: RunOrDie226
add me!
Deal Addict
Dec 25, 2017
1659 posts
1090 upvotes
whatyoulookinatbud wrote: What does $5 transaction fee entail?

If i transfer my money from and to my tangerine account, it'll cost $5 each way...?
If directly between that account and Tangerine, it should incur a $5 charge. This offer would go great with the $300 welcome bonus offer on their Chequing account.

If you insist on not opening a Chequing account, you can open an additional CIBC Bonus Savings Account. It includes one free transaction per month. You can transfer between the two savings accounts to you can get one free deposit or one free withdraw per month. (Not sure if the bonus savings has free transaction between CIBC accounts, if it does, then unlimited deposits and one free withdraw.).

Just make sure that you link the Bonus Savings account in Tangerine or whatever bank account that supports external accounts/EFT transfers. You transfer funds to the eAdvantage Savings to earn interest and the Bonus Savings to move your money.
Deal Fanatic
User avatar
Nov 7, 2006
7437 posts
377 upvotes
Toronto
Looks like only for anyone who never has an eAdvantage account
Deal Addict
Oct 4, 2009
2583 posts
1444 upvotes
Montreal
You're eligible for this offer if this is your first eAdvantage Savings Account.
Please add this to title.
Deal Addict
Mar 28, 2008
1416 posts
302 upvotes
ON
Topramen wrote: Thanks OP. Easily opened online with my existing CIBC accounts.
Is it instant online if you already have an existing account?
Newbie
Jun 30, 2018
76 posts
40 upvotes
sprdave wrote: Is it instant online if you already have an existing account?
Yes, it was instant for me when I opened in Feb. I already had chequing account with them.
Sr. Member
Dec 25, 2013
981 posts
614 upvotes
Toronto
If it wasn't for the $5 transaction fee it's great but two transfers and that's a nice chunk of interest right there gone..

No thanks
Deal Addict
Mar 28, 2008
1416 posts
302 upvotes
ON
whatyoulookinatbud wrote: What does $5 transaction fee entail?

If i transfer my money from and to my tangerine account, it'll cost $5 each way...?
mrelusive wrote: Yes. From the fine print:
Where does it say deposits count as an transaction?

Usually for personal accounts, deposits don't count as transactions for fee purposes.

Top

Thread Information

There are currently 2 users viewing this thread. (1 member and 1 guest)

vekktorious