| Deposits FDIC Insured | Yes |
| Insured Bank | CIBC Bank USA |
| FDIC Certificate # | 33306 |
| Date Established | 1991 |
| Assets | $54.85 billion |
| Loans | $32.85 billion |
| Deposits | $43.88 billion |
| Capital | $9.18 billion |
For a more detailed analysis of CIBC Bank USA's financial condition and a description of what these numbers mean, please visit the Financial Details section.
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Agility Savings Account
|
5.01% | $1,000 | 500,000 |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 9 Month CD
|
5.11% | $25,000 | - |
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|
| 13 Month CD
|
5.36% | $25,000 | - |
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|
| 18 Month Online CD
|
4.47% | $25,000 | - |
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|
| 24 Month Online CD
|
4.45% | $25,000 | - |
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|
| 30 Month CD
|
4.25% | $25,000 | - |
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|
CIBC has lowered the online savings rate offered at its US subsidiary to 1.35% APY. With some analysts suggesting that a major Canadian bank could be in trouble as a result of the collapse in oil prices, it seems like an important time to maintain your deposits within FDIC limits with this bank.
CIBC has lowered its online savings rate from 0.90% APY to 0.80% APY.
CIBC, the Canadian bank that is trying to compete in the US online market, has dropped its online savings rate from 0.62% to 0.52%.
They have also dropped their 12-month CD rate to 0.50%.
CIBC US has discontinued offering its one-year CD product. They offered 5.51% APY and the product only had a 1-month early withdrawal penalty. It has been replaced with other products that are not as compelling.
Parent Bank Initiatives:
CIBC is a lender to carbon intensive industries but has implemented and continues to follow a plan to reduce the carbon intensity of its loan book. The bank has also launched a renewables and energy transition lending group.
Updated April 3, 2024
Canadian Imperial Bank USA Climate Score: C
Canadian Imperial Bank USA Climate Score Info: CIBC is aggressively reducing its oil and gas lending, but has further to go and should be disclosing more about its plans to lend to major renewable energy projects in Canada and the US.
Customer Reviews for Canadian Imperial Bank USA (23)
ytr0171
July 23, 2023
easy to work with but the rate isn't competitive. not even the leading savings rate banks are competitive versus short us treasuries.
Is this review helpful? Yes:1 / No: 0
Bob Woods
July 18, 2023 |
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.
Is this review helpful? Yes:1 / No: 0
CD rate is tough to beat
May 30, 2023 |
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).
Is this review helpful? Yes:3 / No: 0
SheKnows
October 3, 2022 |
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.
Is this review helpful? Yes:0 / No: 0
FredU
May 19, 2022 |
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.
Is this review helpful? Yes:3 / No: 0
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