Canadian Imperial Bank Usa:
Online Certificate of Deposit - 5.51% APY

• The minimum deposit is $1,000. The maximum deposit is $5,000,000.
• Interest is compounded and credited to your account on a monthly basis.
• We may charge a 30 day penalty if you withdraw your CD funds before maturity.


Fee and Feature Guide

Certificate of Deposit
Interest Rate
APY 5.51%
Term Length 12 Month
Minimum deposit amount $25,000.00
Maximum deposit amount N/A
Balance Requirements
Minimum Opening Deposit $1,000.00
Minimum Balance to Avoid Fees $0.00
Minimum Required Balance $25,000.00
Fees
Early withdrawal penalty 30 days interest
Monthly Maintenance Fee N/A
Foreign ATM Fees N/A
Insufficient Funds Fee $35.00
Incoming Wires N/A
Statements
Paper Statements Yes
Online Statements Yes
Online and Telephone Banking
Online Banking Yes
Telephone Banking Yes
Mobile Banking Yes
Deposit Checks with Mobile Device Yes
Free Bill Pay Yes
Online Bill Payments Required Yes
Account Opening
Open Online Yes
Insured by F.D.I.C.

Customer Reviews for Canadian Imperial Bank USA (23)


  • July 23, 2023

    Online Savings Rates

    easy to work with but the rate isn't competitive. not even the leading savings rate banks are competitive versus short us treasuries.

  • July 18, 2023 |

    Online Savings Rates

    The 30-day early withdrawal penalty on a 1-yr cd is really tough to beat. I had been a big fan of these No Penalty CDs at Ally and CIT, but this is a far better rate and the risk-reward makes perfect sense. I've also opened an account with Forbright which has a 3 month Early Withdrawal Penalty. I think Ally is 2 months but they are not rate competitive. 2 or 3 months is very fair. These other players that charge six months are just hoping for you to have a misfortune or to get out quickly if rates go higher.

  • May 30, 2023 |

    Online Savings Rates

    One year at 5.28% with a 30 day Early Withdrawal Penalty is tough to beat, (except in the Treasury market where I can get the same terms and it is state tax free).

  • October 3, 2022 |

    Online Savings Rates

    The rate is not always competitive (but I am checking now on October 3, 2022 and it is above Ally, Barclays, Marcus, Synchrony). I still give CIBC an A+. It is all about transfers. Theirs are easy, reliable.

  • May 19, 2022 |

    Online Savings Rates

    I was a long time customer. I took balances down below $200 in 2020 in order to buy a house during pandemic. I had always planned to deposit again in a rising rate environment. I logged back on today and kaboom, they took all my money in fees for having a low balance. I also have accounts with some of the others (Marcus, Ally, CitizensAccess). I recommend those ones and not this one as they would never steal from me.


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