CIBC USA is the 69th largest bank in the nation. It was established in 1991 and as of March of 2018, it had grown to 1,414 employees. CIBC USA's savings rates are 4X the national average, and it boasts an A+ health rating.
Related Posts
6/24 - CIBC Savings Rate Increased To 1.9% APY
5/22 - Savings Rate Raised To 1.65% APY
3/6 - CIBC Has A 2.30% APY Until 3/31/2018. Then .9%.
8/7/14 - Savings Account Promo Rate at Palladian PrivateBank Ends January 31, 2015
7/22/13 - Top Savings Account Rate at The Palladian PrivateBank
11/23/10 - The Palladian Privatebank's 1.50% Savings Account Is No Longer Available
4/12/10 - Beware This Is Not An FDIC Insured Institution
2/17/10 - Competitive 12-Month CD and Savings Account Rates at Palladian Private Bank - Available Nationwide
Excellent Promotional Deal
They have been running a 1.31% APY first 6 month deal for a year or more now. If you call at the end of it, in one step they'll renew the deal if you close and reopen. I've had no problems wiring into the account and EFT'ing out of the account. I'm not sure what the negative reviews are about!
Too Many Restrictions
I have been with this bank for a couple of years as their rates for savings accounts have been competitive up until recently. What is annoying however is that the promo rates are guaranteed for only 6 months and then revert to a much lower one. In order to maintain the better rate a new account must be opened which is an unnecessary hassle requiring that new external linkages must then be established. Out going ACH transfers are also limited adding further hoops for gaining access to your funds. Now that even the promo rate is not near the leaders I am done with dealing with this banks idiosyncrasies and plan to move on.
Be Sure To Read All Of The Disclosures!
They currently have a very good promotional rate of 1.30% fixed for the first six months the savings account is open. HOWEVER, when I read the disclosure statement, three things kept me from opening the account:
1. No trusts, and no POD accounts--therefore, no beneficiaries!!!! A deal breaker for me, no matter how good the interest rate is.
2. There is a maximum initial deposit of $100,000.00.
3. You can ACH by "pulling" from another external account with no fees or maximums, but you have a 90 day waiting period after opening the account before you can do so. Not good if an emergency arises during that time and you would need the funds.
At least their disclosure statements are posted on their website. Many banks do not do this (but they all should).
Do NOT Use These People!
I opened an account with the required minimum and then wanted to add to it. THEY DO NOT HAVE ELECTRONIC FUNDS TRANSFER ( ACH) FOR EITHER DEPOSITING OR WITHDRAWING FUNDS! The only was I can get my money back is write them a letter. God knows when I will get it back. Almost impossible to do business with an institution that does not allow any on line withdrawals or deposits. Outright fraud if you ask me. I have written the State banking authorities in Florida and Illinois. Be warned that 1.25% come with very tight strings attached
Data as of Q1 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33306 |
| Year Established | 1991 |
| Employees | 1414 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.96% |
| Return on Equity - YTD | 4.57% |
| Annual Interest Income | $247.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2018vs Q1 2017 | $25.59B$20.40B |
| Loans | Q1 2018vs Q1 2017 | $17.07B$15.45B |
| Deposits | Q1 2018vs Q1 2017 | $17.82B$16.75B |
| Equity Capital | Q1 2018vs Q1 2017 | $5.42B$2.23B |
| Loan Loss Allowance | Q1 2018vs Q1 2017 | $81.4MM$199.5MM |
| Unbacked Noncurrent Loans | Q1 2018vs Q1 2017 | $99.6MM$85.0MM |
| Real Estate Owned | Q1 2018vs Q1 2017 | $1.3MM$8.9MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
CIBC Savings Rate Increased To 1.9% APY
-APY accurate as of June 18, 2018
-This is a variable rate account and the interest rate and APY can change at any time without notice.
-The minimum opening deposit is $1,000 but cannot exceed $250,000.
-The account balance cannot exceed $1,000,000. The minimum balance to obtain the APY is $0.01.
-This account is available online only.
https://us.cibc.com/en/personal/savings/agility-savings.html
Always verify rates and promotions with the bank or credit union. We are not CIBC USA; we are a rate comparison website and cannot provide official rates or promotions.
CIBC USA Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.90% | - | $1m | CIBC Agility Savings - Online Only |
CIBC USA is an Internet only bank and does not have branch locations. Its headquarters is located at 120 South LaSalle Street - Chicago, IL 60603