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The 0.01% interest rate offered with this savings account is about 0.12% lower than the market average interest rate. A high-yield savings account will provide better returns on your deposits.
1 CIBC Prime is the variable rate of interest per year declared from time to time to be the prime rate for Canadian dollar loans made by CIBC in Canada. The interest rate on the line of credit component of your CIBC Home Power Plan will change whenever CIBC Prime varies. CIBC Prime rate was RDS%rate[1].PRIME.Published(null,null,null,null)(#O2#)% on RDS%SYSTEM_DATE(#M# #d#, #Y#)%. On July 16, 2018, your rate will revert to the ongoing interest rate stipulated in your CIBC Home Power Plan â Line of Credit and Mortgage Loan Terms and your CIBC Line of Credit Statement of Disclosure.