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Compare the best CIBC savings accounts

Want to open a CIBC savings account? Why not compare your options? Find the highest-earning savings accounts in Canada from multiple banks in seconds.

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CIBC savings accounts

Rates updated:

Toronto, ON
×

Viewing

All account types

with a balance of

$5,000
1.25%

$63 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$0.00
E-transfer
$0.00

Featured

1.25%

0.05% after 120 days

$22 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$5.00
E-transfer
$5.00
0.05%

$3 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$0.00
E-transfer
$1.50
0.05%

$3 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$0.00
E-transfer
$0.00

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The best savings accounts in Canada

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About CIBC

CIBC is one of the Big Five banks in Canada. CIBC has three business units: retail and business Banking, wealth management, and capital markets. As a CIBC client, you can access your account via online banking, CIBC’s mobile solutions, telephone banking, bank machines, and you can also visit one of CIBC’s 1,070 branches located within Canada.

 

Compare CIBC savings accounts

CIBC has a number of savings accounts tailored towards different needs. All accounts listed are insured by the CDIC.

 

CIBC eAdvantage Savings Account

The CIBC Tax Advantage Savings Account is a tax-free savings account that allows you to earn interest on your money immediately and make automatic deposits. You need to make a minimum investment of just $25 to open this account. The account also offers tax-free withdrawals, which can be made at any time.

 

CIBC Tax Advantage Savings Account

The CIBC Tax Advantage Savings Account is a tax-free savings account that allows you to earn interest on your money immediately and make automatic deposits. You need to make a minimum investment of just $25 to open this account. The account also offers tax-free withdrawals, which can be made at any time.

 

CIBC Advantage for Youth

This account is tailored to customers ages 0 to 18. CIBC Advantage for Youth savings account holders receive unlimited transactions and a relatively competitive interest rate compared to other youth account providers.

 

CIBC Premium Growth Account for Seniors

The CIBC Premium Growth Account for Seniors pays a modest interest rate, has no monthly fees and you can receive Interac e-Transfers at no cost. You also get two free transactions a month but have to pay $1.50 for each additional transaction. The CIBC Premium Growth Account for Seniors is only available for those aged 60 or older.

 

CIBC Premium Growth Account

The CIBC Premium Growth Account is a simple savings account that’ll earn you moderate interest on the money you deposit into this account. Transactions including withdrawals, transfers, payments, and debit purchases are subject to transaction fees but there are no monthly fees.

 

CIBC Bonus Savings Account

The CIBC Bonus Savings Account has no monthly fees and requires no minimum balance. If you’re looking to earn a little bit more interest with a CIBC savings account, the interest rate for the CIBC Bonus Savings Account will double if you keep a minimum balance of $3,000. Similar to the CIBC Premium Growth Account, many transactions will be subject to service fees, but the CIBC Bonus Savings Account will give you one free transaction each month.

 

Other CIBC products

CIBC also offers credit cards, mortgages, personal loans, and investment products.

 

Get the best savings account

Banking with CIBC can be simple and convenient as it has more than 1,100 branches across Canada, and provides online, mobile, and telephone banking services. However, if you're looking for other premium interest rates, take a look at our savings account comparison tool which compares rates from banks across the country.

Mikael Castaldo, Senior Business Manager of Everyday Banking

Mikael is a Senior Business Manager at Ratehub.ca and the driving force behind our Everyday Banking Team. He knows everything there is to know about the best credit cards and bank accounts, and works closely with Canada’s top financial institutions - from banks to credit unions - to help ensure our over 1,200,000 monthly users get matched with the right plastic. A numbers guy at heart, having worked as a strategy consultant at the Boston Consulting Group, he’s found himself right at home as a personal finance expert at Ratehub.ca.

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Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.

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