CIBC eAdvantage® Savings Account
As of October 22, 2026, the CIBC eAdvantage® Savings Account pays 4.60% for new clients for 3 months, then 0.20% base interest.
CDIC insuredRates verified October 22, 2026
Calculate your CIBC interest
Conditions: New account special for 3 months; regular base 0.30% (<$100k) or 0.60% ($100k+)
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Key account terms
A flexible savings account that rewards regular saving with 'Smart Interest'.
- Monthly fee
- $0
- Minimum deposit
- $0
- Transactions
- Fees Apply
- Transfer speed
- Instant (Internal)
Pros and considerations
What we like
- Good for regular savers
- Reliable big bank security
- Instant internal transfers
Watch out for
- Bonus requires $200/mo contribution
- Low base rate
- Transaction fees apply
Frequently Asked Questions
Everything you need to know about CIBC's savings rates, terms, and account features.
What is Smart Interest?
Bonus interest earned when you save $200 or more in a month.
Is CIBC deposit-insured and safe?
Yes. With CIBC, eligible deposits are insured up to $100,000 per category by the Canada Deposit Insurance Corporation (CDIC). This protection guarantees that your principal deposit and accumulated interest remain safe against institutional failure.
How is interest calculated and paid on the CIBC eAdvantage® Savings Account?
Interest is calculated daily based on your account's closing balance and deposited directly into your balance on the final business day of each month, compounding your yield monthly.
Can I withdraw my money from CIBC at any time?
Yes. Unlike a GIC (Guaranteed Investment Certificate) which locks in funds for a predetermined duration, this high-interest savings account offers complete liquidity. You can transfer money out at any time without penalty or loss of earned base interest.
How is interest earned at CIBC taxed in Canada?
In non-registered accounts, interest earned is treated as regular taxable income by the Canada Revenue Agency (CRA). CIBC will issue a T5 tax slip if your annual interest exceeds $50 (or upon request for lower amounts). If held inside a TFSA, interest is 100% tax-free.
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