April 5, 2018
I received an email from CIBC today:
Your CIBC eAdvantage® Savings Account bonus interest offer is ending on March 31, 2019. To help you keep growing your savings, we’re offering you a new and exclusive rate of 2.40% interest on the eligible deposits you’ve already made.
Plus, you can continue to earn this great rate on additional deposits you make between April 1 and October 31, 2019, when your account balance is $5,000 or more. Limits apply.*
Reach your savings goals even faster by setting up recurring transfers to your CIBC eAdvantage Savings Account. Visit the Transfer Funds tab in CIBC Online Banking to set one up today.
* Combined bonus and regular annual interest rate paid on net new deposits made to a CIBC eAdvantage® Savings Account. Bonus and/or regular rates may change at any time without notice. Interest rates are calculated daily and paid monthly; bonus interest is earned only on the first $5,000,000 of new balances and only on days when net new deposits exceed the closing balance as of October 15, 2018. Regular interest is earned when the account’s closing balance is $5,000 or more. Any new deposits that you make that exceed the October 15, 2018 closing balance will continue to earn a combined bonus and regular interest rate of 2.40% from April 1 to October 31, 2019. Regular interest and bonus interest will continue to be calculated in the manner set out above. Other conditions apply.
Terms and Conditions for the CIBC eAdvantage® Savings Account
Bonus Interest Offer
Your balances earn the rates shown here:
Current as of April 1, 2019
Balance Interest Rate
Daily Closing Balances up to $4,999.99 0% Regular Interest
Daily Closing Balances $5,000 or over Current Regular Interest Rate
New Balances (defined below) up to the first $5,000,000 1.35% Bonus Interest Rate
The following Terms and Conditions explain in detail how bonus interest can be earned on a CIBC
eAdvantage Savings Account.
1. The CIBC eAdvantage Savings Account (the “eSA”) Bonus Interest Offer (the “eSA Offer”) begins
on April 1, 2019 and continues until October 31, 2019 (the “eSA Offer Period”). The eSA Offer is
only available to selected eligible and existing eSAs opened on or prior to March 31, 2019.
2. An eSA is eligible to earn Bonus Interest on the portion of the account’s daily closing balance that
exceeds the closing balance as at October 15, 2018 (the “New Balance”). If an eSA is overdrawn as
at October 15, 2018, the October 15, 2018 closing balance is deemed to be zero.
3. An eSA opened on or after April 1, 2019 is not eligible to earn Bonus Interest under the eSA Offer.
Bonus Interest and Regular Interest
4. Bonus Interest is calculated daily at the current rate on each day’s New Balance and paid monthly,
for an eligible eSA.
Regular interest (“Regular Interest”) is calculated daily at the current rate on each day’s full closing
balance when the final balance is $5,000 or more, and paid monthly. Bonus Interest is payable on the
first $5,000,000 of New Balances for an eligible eSA during the eSA Offer Period.
Bonus Interest may be referred to as “Promotional Interest” on record keeping (i.e. CIBC Online
Banking, ABMs, etc.).
For current Regular and Bonus Interest rates, ask at any CIBC banking centre or visit cibc.com.
Regular and/or Bonus Interest rates may change at any time without prior notice.
5. Bonus Interest will not be paid on funds that are transferred during the eSA Offer Period from an
eSA opened prior to the eSA Offer Period to another CIBC personal bank account and then back to an
6. Any balances that become eSA balances when another CIBC personal bank account is converted to
an eSA during the eSA Offer Period will not earn Bonus Interest. “Converted” is a term used to
describe when any CIBC personal bank account (such as a CIBC Premium Growth Account) is changed
into an eSA, either directly or indirectly, without changing the original account number.
7. There can only be one eSA Offer on each eSA. This eSA Offer cannot be combined with any other
offer on your eSA. CIBC, in its sole discretion, may change these terms and conditions or withdraw
this eSA Offer at anytime without notice. CIBC reserves the right, in its sole discretion, to disqualify,
limit or revoke this eSA Offer in respect of any CIBC client who it determines or believes is abusing or
manipulating this eSA Offer. CIBC staff (including retirees) and clients younger than 19 are not eligible
for this eSA Offer. This eSA Offer is not transferable and will only apply to the customer to whom it
® Registered trademark of CIBC
September 30, 2017
March 29, 2019
March 30, 2017
March 30, 2019
September 30, 2017
... so without email, everybody else fall back to 1.2% $5,000 min balance ?
eAdvantage regular interest is 1% as per CIBC website today. Anybody know if combined bonus and regular interest sustained at 2.40% ? ... I don't have an eAdvantage, just curious.