CIBC U.S. Bank Review: Savings and CDs
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
CIBC U.S., or CIBC Bank USA, is the U.S. arm of the Toronto-based Canadian Imperial Bank of Commerce. Its U.S. offerings are split between nationwide online-only accounts for high-yield savings and CDs and offline accounts for low-fee checking and other accounts. For this review, we considered the nationwide online options only. Its banking experience is uneven, with a clear and straightforward website but poor ratings on mobile apps.
No monthly fees.
Competitive rates on savings and CDs.
Limited branch access.
Low-rated mobile apps.
Product reviews
Savings
The Agility online savings account earns a competitive rate of 3.52% annual percentage yield on all balances. There's no monthly fee. A downside is the opening minimum is $1,000.
» COMPARE: Best high-yield savings accounts
CIBC Agility™ Savings
Certificates of deposit
CIBC U.S. offers several terms for its online Agility CDs from six to 30 months, but unlike other online banks, most of CIBC’s terms aren’t standard, such as three and five years, making CD rates hard to compare. Rates tend to be competitive and the opening minimum of $1,000 is on the lower side.
» Want more options? See our list of best CD rates
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 3.56% | $1,000 |
| 9 months | 3.90% | $1,000 |
| 1 year | 4.00% | $1,000 |
| 13 months | 4.00% | $1,000 |
| 1.5 years | 4.15% | $1,000 |
| 2 years | 3.00% | $1,000 |
| 2.5 years | 3.00% | $1,000 |
CIBC Agility™ Online CD
Customer experience & overdraft fees
Customer experience
CIBC U.S.'s website provides an overview of fees and rates for its online-only offerings, though offline accounts’ information is more prominent and can be confused for the online-only accounts.There's a small network of ATMs and branches for checking account customers. Customer service is available by phone 8 a.m. to 7 p.m. CT Monday through Friday, and 8 a.m. to 1 p.m. CT Saturday.
For online customers, the bank website provides some savings articles and calculators, but the mobile app ratings for iOS and Android devices aren't great.
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.