CIBC Agility™ Online Savings Account

CIBC Agility™ Online Savings Account Review

CIBC Agility™ Online Savings Account is offered by CIBC Bank USA, a bank founded in 1989 and based in Chicago, IL. CIBC Agility™ Online Savings Account are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 2.51%, which is much higher than the average interest rate for a savings account.
• $0 monthly fee. This account does not charge any monthly account fees.
• $1,000 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.

CIBC Savings Account Pros & Cons

Pros	Cons
Available in all 50 states. High variable APY.	No signup bonus. Does not provide access to a nationwide ATM network. Does not come with a debit card Not FDIC-insured.

CIBC Savings Account FAQ

Are savings accounts from CIBC Bank USA federally insured?

No, your CIBC Bank USA savings accounts are not insured by a federal insurance agency. This means that if CIBC Bank USA were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.

Does CIBC Bank USA offer a signup bonus?

CIBC Savings Account doesn't offer a signup bonus.

What is the minimum initial deposit for CIBC Savings Account?

The minimum deposit to open a CIBC Savings Account is $1,000.

CIBC Agility™ Online Savings Account Minimums

Description
Minimum Opening Deposit	$1,000

What APY does CIBC Agility™ Online Savings Account offer?

CIBC Savings Account offers an APY of 2.51% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does CIBC Savings Account charge?

CIBC Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does CIBC Savings Account offer?

This savings account includes the following features:

• Mobile Banking Services - CIBC Savings Account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to CIBC Savings Account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for CIBC Savings Account?

The customer support email for CIBC Savings Account is cibcusadmin@cibc.com.