Expired Hot Deals

[CIBC] Warm? 2.3% interest on CIBC savings acounts

  • Last Updated:
  • Feb 15th, 2018 1:09 pm
[OP]
Newbie
Jan 28, 2008
88 posts
34 upvotes
Ontario

[CIBC] Warm? 2.3% interest on CIBC savings acounts

Most people here probably have Tangerine or Simplii, which this will not compete with.
I am forced to keep a CIBC account so I saw this deal: 2.3% interest until March 31, 2018 on RRSP, TFSA, and Savings accounts.
I pay $4.95 fee monthly for CIBC. I think the only good thing about CIBC is competitive (I think) global money transfers.
I did a quick search to see if this is posted anywhere.

TERMS:
* This is a combined bonus and regular annual interest rate paid on new deposits made to a CIBC eAdvantage Savings Account (“eSA”) when the account balance is $5,000 or more. The bonus and/or regular rates may change at any time without prior notice. The regular interest rate is paid on the full daily closing balance when the balance is $5,000 or more. Bonus interest is earned on the first $5,000,000 of new balances until March 31, 2018 and only on days when net new deposits exceed the closing balance as of October 16, 2017. Bonus interest rate offer expires March 31, 2018. Interest is calculated daily on each day’s final balance and paid monthly. Other conditions apply. For more information, review the Terms and conditions (PDF, 80 KB) .
2 replies
Deal Addict
User avatar
Feb 18, 2013
1842 posts
10739 upvotes
psommerfeld wrote: I am forced to keep a CIBC account
I'd love to know what's forcing you to use CIBC, haha.
Jr. Member
Feb 20, 2017
142 posts
268 upvotes
This offer is terrible on all 3 key points:
- not the best interest rate (vs Simplii 3%, Tangerine 2.5%)
- very short time limit (vs EQ Bank 2.3% non-promotional)
- only on "new balance" compared to balance on Oct 16, 2017 (ridiculous)

Added together, makes this offer colder than the current weather in Alberta.

Since savings accounts don't have fees anyway, it doesn't matter if you already have a chequing account with CIBC.

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