-
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:
4.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
4.0
Pros:
- Low opening required amounts
- Variety of bank accounts
- Online Rewards checking account
- Checking and CDs offer competitive rates
Cons:
- Must meet requirements to earn interest
- Not competitive rates for savings and MMA
- Accounts have monthly fees
- Not everyone can open 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.
Accounts at Washington Savings Bank have low required opening amounts. All the checking and money market accounts only require $10 to open. The savings account opening balances range from $1 to $50, depending on the account. All the CD terms require $500 to open.
Washington Savings Bank has a variety of personal deposit and business accounts. They offer three personal checking accounts and a variety of savings accounts. They also offer CDs, business accounts, and lending options.
Washington Savings Bank offers an Online Rewards checking account. This account is available to U.S. citizens across the country. You earn debit card cash rewards for purchases. You must have a direct deposit into this account. There is a monthly fee of $9.95. This is a checking account for those who need a second chance. After one year of good accounts history, you can receive a lower monthly fee.
The Washington Savings Bank checking accounts and CDs offer competitive interest rates. Not all CDs offer competitive rates. There are five special CD terms that have competitive rates. The checking account does have tiered interest rates. The most competitive rate is for balances between $0 and $10,000. Some qualifications must be met to earn the competitive rate.
The checking account has set requirements to earn the competitive interest rate. Those qualifications include having at least 12 debit card purchases post and clear. You must receive eStatements. You must also have one automatic payment, direct deposit, or bill pay post and clear. If these qualifications are met each month, you earn the competitive interest rate.
The savings and money market account do not have competitive interest rates. Washington Savings Bank offers a variety of savings accounts, but the rates are low. These account rates are not competitive with other online accounts.
Some Washington Savings Bank accounts have a monthly maintenance fee. Those fees range from $3 to $10 depending on the account. To waive the fees requires a set amount be in the accounts. Those balances range from $50 to $2,500. The Online Rewards checking has a monthly fee of $9.95.
Not everyone can open Washington Savings Bank accounts. Savings accounts are only for residents of Massachusetts or New Hampshire. Two of the checking accounts are only offered to those residents as well. The Online Rewards checking account is available for anyone. That account has a $9.95 monthly fee.
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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.