Canadian Imperial Bank Usa:
Online Certificate of Deposit - 4.31% 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 | 4.31% |
| Term Length | 12 Month |
| Minimum deposit amount | $1,000.00 |
| 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 |
| Minimum To Earn | $0.00 |
| 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. |
Recent Rate Changes
| Date | APY |
|---|---|
| December 3, 2024 | 4.31% |
| November 17, 2024 | 4.43% |
| November 17, 2024 | 4.56% |
| September 25, 2024 | 4.56% |
| September 25, 2024 | 4.81% |
| September 18, 2024 | 4.81% |
| August 16, 2024 | 5.06% |
| January 9, 2024 | 5.51% |
| November 21, 2023 | 5.66% |
| August 20, 2023 | 5.36% |
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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