CIBC High-Yield Business Savings Account
Earn competitive rates on your business reserves. Tiered interest rates increase with your balance, and funds remain instantly accessible through CIBC digital banking.
Account Features
The CIBC high-yield business savings account is designed for businesses that want their idle cash to generate meaningful returns without sacrificing liquidity. Tiered interest rates reward larger balances, and daily interest calculation with monthly compounding maximises your effective yield.
- Tiered interest rates — higher balances earn higher rates
- Daily interest calculation with monthly compounding
- Instant access to funds via digital banking
- CDIC insured up to applicable limits
- No monthly account fee
- Automated sweep from operating account
- Same-day transfers to CIBC operating accounts
Smart Savings
Set up automatic sweeps to transfer excess operating funds to savings. Define minimum operating balance thresholds and the system handles the rest.
Maximise Returns on Business Reserves
Many businesses hold significant cash reserves in low-yield or non-interest-bearing operating accounts. A CIBC high-yield savings account provides a simple way to generate meaningful returns on these reserves without locking up capital or adding operational complexity.
The automated sweep feature connects your operating and savings accounts. Define a minimum operating balance and the system automatically transfers excess funds to savings each day. When operating funds are needed, instant same-day transfers ensure liquidity is never compromised.
For funds that can be committed for a fixed period, consider pairing your savings account with CIBC term deposits for even higher guaranteed rates through a laddering strategy.
Common Questions
CIBC business savings accounts offer tiered interest rates that increase with your balance. Contact CIBC for current rate information, as rates are subject to change.
Yes. CIBC business savings accounts are insured by the Canada Deposit Insurance Corporation up to applicable coverage limits, providing capital preservation guarantees.
CIBC Digital Business high-yield savings accounts offer tiered interest rates that increase with your balance. The CIBC Digital Business automated sweep feature transfers excess operating funds to savings for optimal returns.