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CIBC: 3.25% on 5yr GIC!?
February 28, 2022
1:14 pm
COIN
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bhuc said
Their current 5 year Bonus Rate is still 3.0% and yes the branch has a limited number of bonus top ups of 0.5% they can offer select clients. I know this because I bought a 5 year non registered GIC at 3.5%  

Is the current 5 year GIC now 2.50% (down from 3% down from 3.25%)?

February 28, 2022
1:50 pm
Norman1
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The 3% special rate for the five-year CIBC Bonus Rate GIC is still available for non-registered, RRSP, and TFSA.

2½% for RRIF and LIF though.

February 28, 2022
5:03 pm
COIN
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Norman1 said
The 3% special rate for the five-year CIBC Bonus Rate GIC is still available for non-registered, RRSP, and TFSA.

2½% for RRIF and LIF though.  

Thanks. So, the 2.50% I saw is for RRIF and LIF.

March 4, 2022
12:21 pm
Norman1
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CIBC has ended the special 3% rate on the five-year CIBC Bonus Rate GIC. The rate is now 2½%.

Their 5-year CIBC Escalating Rate GIC is still available for an effective rate of 3.04% per annum.

Investment amount Year 1 Year 2 Year 3 Year 4 Year 5 Effective yield
$500 to $1,000,000,000 1.000% 2.250% 3.500% 3.750% 4.750% 3.0418%
March 4, 2022
1:40 pm
MattS
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I could not get jack from these guys without sitting through a meeting about mutual funds, then they wanted market link funds were so reluctant to allow for me to get 3.25. So I cancelled my last appointment and took the 3.18% at wealth one
The big 5 will never be on your side for anything!!!!
I went through live chats, drop in at branch in Cambridge where I live, booked appointments in Milton branch where I work
They are worse than the borg on star trek… One mind and they were preparing me for assimilation

March 4, 2022
1:42 pm
MattS
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The only satisfaction I got was being able to tell someone to their face calmly and polite way that my recent 3 experiences this RRSP season have re confirmed everything I have ever thought about the big five and I wish to humbly withdraw my application!! They could not have given one rats behind!

March 4, 2022
5:03 pm
hwyc
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Norman1 said
CIBC has ended the special 3% rate on the five-year CIBC Bonus Rate GIC. The rate is now 2½%.

Their 5-year CIBC Escalating Rate GIC is still available for an effective rate of 3.04% per annum.

Investment amount Year 1 Year 2 Year 3 Year 4 Year 5 Effective yield
$500 to $1,000,000,000 1.000% 2.250% 3.500% 3.750% 4.750% 3.0418%

  

Why would you say that, Norman1? I follow the links in this thread & 3% Bonus Rate is still there.

March 4, 2022
6:39 pm
Norman1
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Strange.

The 3% rate is gone from the CIBC Bonus Rate GIC rate tables at Interest Rates on GICs. But, the 3% rate is advertised still at CIBC Bonus Rate GIC!

March 4, 2022
9:10 pm
Loonie
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Don't tell them! LOL

I once got a full percent higher rate for a GIC due to such a discrepancy (at another FI).

March 5, 2022
5:33 am
bhuc
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3.0 % 5 year Bonus rate GIC is still showing on their web page as of today.
https://www.cibc.com/en/personal-banking/investments/gic-rates-arent-high-enough/bonus-rate.html

P.S.
Sorry I should have read Norman1 post a little closer !

March 5, 2022
8:13 am
MattS
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its all a mute point when you have plenty of other options... the seductive lips if an evil temptress!!! It never pays!!

March 5, 2022
8:29 am
cgouimet
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I just noticed something in that table ...

Investment Amount: $500 to $1,000,000,000!

And I was thinking about investing $2B! Sadly out of Luck, I suppose ...

CGO
March 6, 2022
9:53 pm
RetirEd
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"Moot" means of no effect and thus unimportant. "Mute" means not producing sound.
RetirEd.

RetirEd

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