CIBC Bank USA is now offering a near market-leading rate for its 13-month Agility CD at 4.41% APY.
This comes as a significant move in the current financial landscape where similar term CDs have seen fluctuating rates.
The rates are updated as of 10/9/24
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
Agility 13-Month CD Features
- APY: 5.25% on deposits between $1k and $5 million.
- Availability: Nationwide through online application.
- Minimum/Maximum Deposit: $1,000 minimum and $5 million maximum.
Trending Savings Account Deal:
Early Withdrawal Penalty
The penalty is 30 days of simple interest on the amount withdrawn before maturity. Withdrawal requests may take up to 72 hours to process.
Account Opening and Eligibility
- Eligibility: U.S. citizens or resident aliens (18 years or older) with a valid U.S. address and Social Security number.
- Application: Must be opened online, though CIBC operates personal banking centers in several states.
- Required ID: A U.S. driver’s license or state-issued ID.
Funding and Other Details
- Funding Options: ACH, personal check, or internal transfer. Funds must be received within 30 days of account opening.
- Account Ownership: Individual or joint, but trusts and custodial accounts are not permitted.
- Interest Compounding: Monthly, with no automated withdrawal, but payout by check is available.
- Maturing Funds: Distributed by check to the address on file.
- Beneficiaries: Up to six allowed with equal shares; Social Security numbers required.
- Grace Period: 10 calendar days before automatic renewal.
- Credit Check: Via ChexSystems.
READ MORE: SEE THESE CASH BACK SHOPPING DEALS AND PROMOTIONS FOR BONUS CASH AND REWARDS
Bank Overview
CIBC Bank USA has seen a decline in its total non-brokered deposits over the past year, yet maintains a strong presence as the third largest bank headquartered in Illinois and the 44th largest in the country.
The bank, a part of the Canadian Imperial Bank of Commerce, emphasizes a steady expansion in the U.S. market.
Our Take on the Offer
The 13-month Agility CD from CIBC Bank USA is an attractive option for savers looking for competitive yields with a reputable bank.
Its near market-leading rate combined with the flexibility of a lower early withdrawal penalty and a broad range of deposit capabilities makes it a noteworthy option in the current CD landscape.
As always, potential savers should consider their individual financial situations and compare with other available offers to ensure the best fit for their savings strategy.
See more from this bank:
- CIBC U.S. Bank Bonus: $200 Checking Offer (In Branch Only) [IL, MI, MO & WI] – No End Date
- [Expired] CIBC U.S. Bank Promotions: $200 – $400 Savings Account Bonus
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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AP NOT CLEAR ON HOW TO APPLY FOR YOUR CD
The offer link above takes you to CIBC to learn more. For this CD account, you’ll need to do it in-branch. According to CIBC, you’ll need your identification, such as a driver’s license, state ID, military ID or passport (US or other) and proof of address.