 |
|
President's Choice Financial services are provided by the direct banking division of CIBC.
President's Choice Financial MasterCard is provided by President's Choice Bank.
The PC points loyalty program is provided by President's Choice Services Inc.
Today's great rates for all products
Choose the rate you'd like to see:
- no fee bank account
- the unbeatable, eatable mortgage™
- Interest Plus™ savings account
- Interest First™ savings account
- the must-have GIC
- Interest Plus™ RRSP
- The World's Best™ RRSP
- the must-have RRSP GIC
- Tax-Free Interest Plus™ savings account
- low-cost borrowing account
- secured borrowing account
- all-purpose loan
- President's Choice Financial MasterCard
- CIBC Bank prime rate
| on the portion of balance between: |
annual interest rate (%) |
| $0.00 - $1,000.00 | 0.05 |
| $1,000.01 - $5,000.00 | 0.10 |
| $5,000.01 - $10,000.00 | 0.15 |
| $10,000.01 - $25,000.00 | 0.25 |
| $25,000.01 and up | 0.50 |
Interest is calculated on the balance of your account at the end of each day and is paid into your account monthly.
Interest is calculated by multiplying the daily interest rate for each tier by the portion of the daily closing balance in that tier.
overdraft
| daily balance | annual rate (%) |
| on all overdraft balances | 19.00 % |
A minimum charge will apply when you use the service, in addition to a fixed interest rate on overdraft balances.
variable rate mortgages:
| term | rate (%)1 |
| 5 years | 3.10 |
fixed rate mortgages:
| term | fixed rate (%) | ||
| basic2 | fresh cut3 | PC points plus |
|
| 2 year | 3.10 | 3.20 | 3.35 |
| 3 year | 3.14 | 3.24 | 3.39 |
| 4 year | 3.20 | 3.30 | 3.45 |
| 5 year* | 3.39 | 3.49 | 3.64 |
| 6 year | 3.67 | 3.77 | 3.92 |
| 7 year* | 3.94 | 4.04 | 4.19 |
| 8 year | 4.02 | 4.12 | 4.27 |
| 9 year | 4.11 | 4.21 | 4.36 |
| 10 year* | 4.19 | 4.29 | 4.44 |
*Now, rate reductions available on 5, 7 & 10-year fixed rate mortgages depending on the size of your mortgage4.
| Mortgage Size | 5 Year | 7 & 10 Year |
| $500,000 and higher | Our posted 5 yr. fixed rates less 0.10% | Our posted 7 & 10 yr. fixed rates less 0.15% |
| $350,000 - $499,999.99 | Our posted 5 yr. fixed rates less 0.07% | Our posted 7 & 10 yr. fixed rates less 0.10% |
| $200,000 - $349,999.99 | Our posted 5 yr. fixed rates less 0.05% | Our posted 7 & 10 yr. fixed rates less 0.05% |
For example, with a 5-year term, fresh cut fixed rate mortgage of $350,000, your reduced rate would be our posted rate of 3.49% less 0.07%
5% cash back mortgage:5
| term | fixed rate (%) |
| 5 year | 5.14 |
| 7 year | 5.24 |
| 10 year | 5.54 |
convertible mortgage:
| term | fixed rate (%) |
| 6 Months | 6.04 |
| 12 Months | 3.14 |
Minimum amount for a President's Choice Financial mortgage is $35,000.00. Mortgages are subject to credit approval. Some conditions and restrictions apply.
1 Rates are based on a new variable rate mortgage with a 5-year term and 25-year amortization and CIBC prime rate (prime). Prime may vary. The interest rate is variable and is based on prime and fluctuates as prime changes.
2 Pre-payment and payment increase options, PC® points, anniversary PC points and early payouts are not available with the basic fixed rate mortgage.
3 Anniversary PC points are not available on fresh cut mortgages.
4Reduction applies to new and renewing 5, 7 & 10 year fixed rate mortgages of $200,000 or more, and is a set amount off our posted rates for 5, 7 & 10 year fixed rate mortgages. Amount of rate deduction depends on mortgage principal amount. Certain conditions and restrictions apply; ask for details. For refinances and ports, rate reduction applies to new funds only. Does not apply to cash back mortgages or assumptions.
5Cash back offer cannot be combined with any other offer. Other conditions and restrictions apply. Ask for details. If the mortgage is discharged, refinanced, ported, assumed, transferred or renewed before the maturity date for any reason, you must repay the cash back amount. The cash back mortgage does not earn PC points.
| daily balance | annual rate (%) |
| $0 - $1,000.00 | 0.40 |
| $1,000.01 and up | 1.50 |
Interest is calculated on each day’s closing balance and is paid into your account monthly.
anniversary bonus interest
Anniversary bonus interest rates have changed. The following rates are effective as of October 27, 2009
| average annual balance | annual rate (%) | |||
| account anniversary (yrs) | ||||
| 1 | 2 | 3 | > 3 | |
| $1,000.01 - $10,000.00 | 0.02 | 0.02 | 0.03 | 0.03 |
| $10,000.01 - $50,000.00 | 0.03 | 0.04 | 0.05 | 0.07 |
| $50,000.01 - $100,000.00 | 0.04 | 0.05 | 0.07 | 0.08 |
| $100,000.01 - and up | 0.05 | 0.07 | 0.08 | 0.10 |
Anniversary bonus interest is based on the average of your daily closing balances over the year and is paid into your account the next business day after your anniversary date. For purposes of interest calculation, your first year starts from the account creation date and ends on the anniversary date, which is one calendar year after the account creation date.
Find out more about the Interest Plus™ savings account
Rates subject to change.
| daily balance | annual rate (%) |
| today's rate | 0.50 |
Interest is calculated on each day's closing balance and paid at the end of each month.
| GIC term | rate (%)* | APY (%)** |
| 1 year | 1.243 | 1.25 |
| 2 year | 1.490 | 1.50 |
| 3 year | 1.786 | 1.80 |
| 4 year | 1.884 | 1.90 |
| 5 year | 2.326 | 2.35 |
Interest is calculated on each day's closing balance based on the simple interest rate and is paid or compounded (depending on the interest option chosen) at the end of each month. Your GIC is non-redeemable and must be held for the entire term.
* Simple annual interest rate
** Annual percentage yield (APY) — the effective interest rate, illustrating the effect of compounding, or earning of interest on interest
| daily balance | annual rate (%) |
| $0 - $1,000.00 | 0.40 |
| $1,000.01 and up | 1.50 |
Interest is calculated on each day’s closing balance and is paid into your account monthly.
anniversary bonus interest
Anniversary bonus interest rates have changed. The following rates are effective as of October 27, 2009
| average annual balance | annual rate (%) | |||
| account anniversary (yrs) | ||||
| 1 | 2 | 3 | > 3 | |
| $1,000.01 - $10,000.00 | 0.02 | 0.02 | 0.03 | 0.03 |
| $10,000.01 - $50,000.00 | 0.03 | 0.04 | 0.05 | 0.07 |
| $50,000.01 - $100,000.00 | 0.04 | 0.05 | 0.07 | 0.08 |
| $100,000.01 - and up | 0.05 | 0.07 | 0.08 | 0.10 |
Anniversary bonus interest is based on the average of your daily closing balances over the year and is paid into your account the next business day after your anniversary date. For purposes of interest calculation, your first year starts from the account creation date and ends on the anniversary date, which is one calendar year after the account creation date.
Find out more about the Interest Plus™ RRSP
Rates subject to change.
| daily balance | annual rate (%) |
| on all balances | 0.50 |
Interest is calculated on each day's closing balance and paid at the end of each month.
| RRSP GIC term | rate (%)* | APY (%)** |
| 1 year | 1.243 | 1.25 |
| 2 year | 1.490 | 1.50 |
| 3 year | 1.786 | 1.80 |
| 4 year | 1.884 | 1.90 |
| 5 year | 2.326 | 2.35 |
Interest is calculated on each day's closing balance based on the simple interest rate and is paid or compounded (depending on the interest option chosen) at the end of each month. Your GIC is non-redeemable and must be held for the entire term.
* Simple annual interest rate
** Annual percentage yield (APY) — the effective interest rate, illustrating the effect of compounding, or earning of interest on interest
| daily balance | annual rate (%) |
| $0 - $1,000.00 | 1.50 |
| $1,000.01 and up | 1.50 |
Interest is calculated on each day’s closing balance and is paid into your account monthly.
anniversary bonus interest
Anniversary bonus interest rates have changed. The following rates are effective as of October 27, 2009
| average annual balance | annual rate (%) | |||
| account anniversary (yrs) | ||||
| 1 | 2 | 3 | > 3 | |
| $1,000.01 - $10,000.00 | 0.02 | 0.02 | 0.03 | 0.03 |
| $10,000.01 - $50,000.00 | 0.03 | 0.04 | 0.05 | 0.07 |
| $50,000.01 - $100,000.00 | 0.04 | 0.05 | 0.07 | 0.08 |
| $100,000.01 - and up | 0.05 | 0.07 | 0.08 | 0.10 |
Anniversary bonus interest is based on the average of your daily closing balances over the year and is paid into your account the next business day after your anniversary date. For purposes of interest calculation, your first year starts from the account creation date and ends on the anniversary date, which is one calendar year after the account creation date.
Find out more about the Tax-Free Interest Plus™ savings account
Rates subject to change.
| daily balance | annual rate (%) |
| on all outstanding balances | Low rate based on prime* |
For more information about our low-cost borrowing account rates, please contact us at 1-888-872-4724 or visit an in-store pavilion.
Interest is calculated on the final daily balance of your borrowing account and is charged to your borrowing account at month-end.
*The low-cost borrowing account rate is based on prime plus a percentage determined at the time of credit approval. Prime means the variable interest rate declared from time to time to be the CIBC prime rate for Canadian Dollar loans made by CIBC in Canada. CIBC prime rate is subject to change. Your rate will vary whenever CIBC prime rate varies and/or whenever we change your variable interest rate in our sole discretion.
| daily balance | annual rate (%) |
| on all outstanding balances | 4.00 (prime*+1.00) |
Interest is calculated on the final daily balance of your borrowing account and is charged to your borrowing account at month-end.
*Prime means the variable interest rate declared from time to time to be the CIBC prime rate for Canadian Dollar loans made by CIBC in Canada. CIBC prime rate is subject to change. Your rate will vary whenever CIBC prime rate varies and/or whenever we change your variable interest rate in our sole discretion.
variable rate loan
For information about our variable rate loans, please contact us at 1-888-872-4724, or visit an in-store pavilion.
fixed rate loan
| term of loan | annual rate as low as (%) |
| 1 year | 5.85 |
| 2 year | 6.05 |
| 3 year | 6.45 |
| 4 year | 6.75 |
| 5 year | 7.05 |
| 6 year | 7.45 |
| 7 year | 8.25 |
| monthly balance | annual rate (%) |
| standard rate* | 19.97 |
Important new information about rates and fees
| effective date | prime rate (%)* |
| September 09, 2010 | 3.00 |
*Prime means the variable interest rate declared from time to time to be the CIBC prime rate for Canadian Dollar loans made by CIBC in Canada. CIBC prime rate is subject to change. Your rate will vary whenever CIBC prime rate varies and/or whenever we change your variable interest rate in our sole discretion.
Rates subject to change.
®™ PC, President’s Choice, President’s Choice Financial, Interest Plus, Interest First, The World’s Best, unbeatable, eatable mortgage and Fresh Financial Thinking are trademarks or registered trademarks of Loblaws Inc. CIBC licensee of marks.
† President's Choice Financial services are provided by the direct banking division of CIBC.
President's Choice Financial MasterCard is provided by President's Choice Bank.