-
Financial Rates:
3.0
-
Customer Service:
4.5
-
Website Experience:
4.0
-
Bank Fees:
4.0
Pros:
- Variety of accounts offered
- High interest rate for CIBC Agility
- Low required opening amounts
- Interest Rate Bonus on accounts
Cons:
- Only one checking account earns interest
- Account interest rates not listed
- Cannot open all accounts online
- Accounts have monthly fees
-
Financial Rates:
1.5
-
Customer Service:
4.5
-
Website Experience:
4.5
-
Bank Fees:
3.5
Pros:
- Higher rates than typical banks
- Good variety of accounts online
- Free ATM transactions
- Digital Wallet
Cons:
- Monthly fees for most accounts
- High opening required amounts
- Must wait for accounts to activate
- Tiered interest rates on accounts
CIBC offers a variety of accounts. These accounts include:
- iCan checking
- myChoice checking
- myChoice Prestige checking
- CIBC savings
- Agility savings
- CIBC money market
- CD terms
- Agility CDs 9, 12, 18, and 24-month terms
- Personal lending and retirement options
- Commercial and small business accounts and lending options
The CIBC Agility savings account offers competitive interest rates. This savings account requires $1,000 to open and does not have a monthly fee. The CIBC Agility savings account is an online-only account. The interest rates are competitive with other online-only savings accounts. They are much higher than typical brick-and-mortar banks.
CIBC accounts have low opening required amounts. The MMA and personal savings account require $50 to open the account. You must open these accounts at a branch location. The online savings account requires $1,000 to open. Regular CDs require $1,000 to open.
The myChoice checking account offers an interest rate bonus. This allows you to earn higher interest rates on your checking account balance. To earn the higher rates, you must meet a set amount. The amounts can come from a total of qualifying CIBC accounts. Those include myChoice checking account, money market and savings accounts. CDs and principal balances on personal loans count toward the balance total also. The more money you have in the accounts, the higher the bonus rate you receive.
Only one CIBC checking account earns interest. The CIBC myChoice Checking account is the interest-earning account. You must open this account at a branch location. If you have less than $5,000 in the account, there is a monthly fee.
Interest rates for CIBC accounts are not listed online. Only one CIBC savings account lists the interest rate for the account. The CIBC Agility offers competitive interest rates. The other CIBC accounts do not list the interest rates earned for their accounts. To open those accounts, you must visit a branch location.
Not all CIBC accounts can be opened online. To open a checking or savings account, or CDs, you must visit a branch location. CIBC has 46 branch locations in 19 states. The only accounts you can open online are the CIBC Agility savings account and Agility CDs. Those terms include 9, 12, 18, and 24-month terms
Most CIBC accounts have a monthly fee. To waive the fee, you must keep a set amount in the account. To avoid the checking account fees, you must have over $1,000 in the iCan account and $5,000 in the myChoice account. The savings account requires $250 to waive the fee, and the MMA requires $2,500.
The interest rates for Sun Canyon are higher than typical bank rates, but lower than online accounts. The accounts do have tiered interest rates. But even the lowest tier rates are higher than typical bank rates.
Sun Canyon Bank offers online accounts. Those accounts include:
- Checking account
- Savings account
- Money market account
- Standard CDs in 6, 12, and 24-month terms
Sun Canyon allows for eight ATM transactions each month, or up to $25 per billing cycle, free of fees. The other banking institution may charge a fee. Sun Canyon will not charge a fee for those first ATM transactions.
Through the mobile app, you can make purchases and payments with Sun Canyon Digital Wallet. You load your debit card into the mobile app. You can then make purchases. Sun Canyon also supports Apple, Google, and Samsung Pay.
Most Sun Canyon accounts have fees. The money market fee is $10. To avoid fees, you must keep at least $2,500 in the account. The savings account has a fee of $5 per month. To avoid this fee, you must have a balance of at least $250. The checking account has a fee of $5 if you have less than $5,000 in your checking account. To waive the fees, you can also have set combined balances. The savings account requires $2,500 in combined accounts. The MMA requires $5,000, and the checking account requires $20,000 in combined accounts.
The opening required amounts for Sun Canyon accounts are high. The savings account requires $250 to open. The checking account requires $1,000 to open. The CDs all require $1,000 to open. The money market account requires $2,500. You must keep these amounts in the accounts to avoid the monthly fees.
Apply for an account with Sun Canyon by filling out an application online. Once your application is complete, customer service sends an email when the account activates. You can start using the account once you receive the email.
To earn the most competitive rates, you must have a high account balance. The checking account requires $50,000 for the best rates and the money market requires $100,000. The savings account requires $250,000. Balance over $250 for the savings account and over $2,500 for the MMA and checking accounts earn interest, just not the highest rate.
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| Savings (Rate as of 11/18/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 5.00% |
|---|---|
| Rate | 4.89% |
| Min to Open | $500 |
| Min to Earn APY | $500 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 4.00% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC It only takes about 5 minutes to open a fee-free account. | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.46% |
|---|---|
| Rate | 4.46% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.50% |
|---|---|
| Rate | 4.50% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC $200 Bonus w/ Tiered Savings Account and Qualifying Activities | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.60% |
|---|---|
| Rate | 4.50% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.75% |
| Min to Open | $10 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| FDIC insured at program banks†var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.20% |
|---|---|
| Rate | 4.11% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.