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How CIBC USA products compare
Start saving
On CIBC Bank’s website. CIBC Bank, FDIC Insured.
Start saving
On CIBC Bank’s website. CIBC Bank, FDIC Insured.
Overall bank rating
Pros and cons
CIBC Agility Online Savings Account
Annual Percentage Yield (APY)
4.52%
Minimum Deposit Amount
$1,000
Fees
no monthly services fee
CIBC Agility Online Savings Account
Annual Percentage Yield (APY)
4.52%
Minimum Deposit Amount
$1,000
Fees
no monthly services fee
On CIBC Bank’s website. CIBC Bank, FDIC Insured.
CIBC Agility Online Savings Account
Details
Fees
no monthly services fee
Annual Percentage Yield (APY)
4.52%
Minimum Deposit Amount
$1,000
The CIBC Agility Online Savings Account pays a great interest rate and might be ideal if you have at least $1,000 for an initial deposit.
If you don’t have a lot of money for an opening deposit, see our best high-yield savings accounts guide. Some of our top picks let you open a high-yield savings account with $0.
CIBC iCan Checking Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
CIBC iCan Checking Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
CIBC iCan Checking Account
Details
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
Only residents of Illinois, Michigan, Missouri, and Wisconsin may open a CIBC iCan Checking Account.
The CIBC iCan Checking Account is one of the bank’s strongest products. It doesn’t charge monthly service fees or out-of-network ATM fees, and you’ll earn 1% cash back on debit card purchases (up to $20 each month).
CIBC Agility CD
Annual Percentage Yield (APY)
4.20% to 5.27%
Minimum Deposit Amount
$1,000
CIBC Agility CD
Annual Percentage Yield (APY)
4.20% to 5.27%
Minimum Deposit Amount
$1,000
On CIBC Bank’s website. CIBC Bank, FDIC Insured.
CIBC Agility CD
Details
Annual Percentage Yield (APY)
4.20% to 5.27%
Minimum Deposit Amount
$1,000
CIBC Bank USA has competitive interest rates on CDs and offers an even higher rate if you deposit $25,000 or more.
Keep in mind that terms range from nine months to 30 months, so you’ll have to consider other financial institutions if you want to open a CD term that’s three years or longer.
CIBC Money Market Account
Annual Percentage Yield (APY)
0.03%
Minimum Deposit Amount
$50
CIBC Money Market Account
Annual Percentage Yield (APY)
0.03%
Minimum Deposit Amount
$50
CIBC Money Market Account
Details
Annual Percentage Yield (APY)
0.03%
Minimum Deposit Amount
$50
The CIBC Money Market Account isn’t as strong as the bank’s online savings account.
While it includes checks and a debit card, the money market account has a low interest rate. You’ll also need to maintain at least $2,500 in your account daily to waive the $15 monthly service fee.
How CIBC Bank USA works
CIBC Bank USA is the US division of the Toronto-based bank Canadian Imperial Bank of Commerce.
CIBC has over 1,000 branches and 3,000 ATMs in North America. Banking centers are located only in Illinois, Michigan, Missouri, and Wisconsin.
CIBC Bank USA has an online savings account and CDs that you can open anywhere in the US. To open a checking account or money market account in the US, you must live in a state that has a banking center.
Customer support is available 24/7 by phone.
The bank’s mobile app has 4.1 out of 5 stars in the Google Play Store and 3.9 out of 5 stars in the Apple Store.
CIBC Bank USA is FDIC insured. You may safely keep up to $250,000 in an individual bank account.
CIBC Bank USA trustworthiness and BBB rating
In 2021, CIBC agreed to pay $125 million in a settlement when accused of misrepresenting financial information regarding CIBC investments and US residential mortgage-backed securities.
We also use ratings from the Better Business Bureau to see how banks deal with customer issues.
The BBB gave CIBC Bank USA an A+ rating. However, its parent company CIBC has an F rating because the BBB has received numerous complaints and hasn’t responded to or resolved some complaints.
A good BBB rating won’t guarantee your relationship with a bank will be smooth. Consider chatting with current customers or reading online customer reviews to see if CIBC Bank USA might be a good fit for you.
CIBC USA vs. Chime
CIBC Bank USA has online savings accounts and CDs that can be opened from anywhere in the US. You’ll have to live in Illinois, Michigan, Missouri, or Wisconsin to open a checking account or money market account.
Chime only lets you open a savings account if you already have the Chime Checking Account. Otherwise, you’ll have to choose another institution.
CIBC Bank USA offers a slightly highest interest rate on savings accounts but requires a minimum of $1,000 to open a savings account. Chime pays lower interest rates on its savings accounts, but you won’t need to make an initial deposit.
CIBC USA vs. Capital One
Capital One has more bank account options than CIBC USA, regardless of where you live. There are online savings accounts, checking accounts, and CDs. You may also open age-specific bank accounts for kids and teens.
Your decision between these two institutions might also depend on how much money you have to deposit. CIBC Bank USA requires a minimum of $1,000 to open a savings account, while Capital One lets you open a savings account with $0.
See Insider’s list of the best savings accounts »
Frequently asked questions
CIBC Bank USA is the US division of the Toronto-based bank Canadian Imperial Bank of Commerce. CIBC Bank USA offers online savings accounts and CDs called Agility accounts.
There are branches located in Illinois, Michigan, Missouri, and Wisconsin, which offer more bank account options.
You may open a CIBC Agility savings account or CD from anywhere in the US. You’ll need to provide your social security number, US ID, and home address. CIBC Bank USA also requires you to be at least 18 years old to open an online bank account.
Yes, Agility accounts are FDIC insured. You may keep up to $250,000 in an individual bank account, and it will be safe.
