{"id":761177,"date":"2019-01-23T23:50:43","date_gmt":"2019-01-24T04:50:43","guid":{"rendered":""},"modified":"2026-06-30T07:16:28","modified_gmt":"2026-06-30T11:16:28","slug":"cibc-personal-loans","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/personal-loans\/cibc-personal-loans","title":{"rendered":"CIBC loans and lines of credit review"},"content":{"rendered":"

What is CIBC?<\/h3>

The Canadian Imperial Bank of Commerce (CIBC) is one of Canada\u2019s \u201cBig Six\u201d banks. Established in 1867, this major bank offers a wide range of retail, business and commercial banking products and services.<\/p>

Its offerings for retail customers include chequing and savings accounts, credit cards, mortgages and loans, investment accounts and insurance. CIBC customers can manage their accounts via online banking and the CIBC Mobile Banking app, or visit their nearest branch.<\/p>

Is CIBC legit?<\/h3>

CIBC is one of the largest banks in North America and boasts over 13 million clients globally. Headquartered in Toronto, it has assets of over $940 billion.<\/p>

CIBC operates more than 1,000 branches and over 2,900 ATMs across Canada. It was also awarded for improving digital banking experiences for its customers in The Digital Banker\u2019s 2023 World Digital Bank Awards.<\/p>

Features of CIBC personal loans and lines of credit<\/h3>
Feature<\/th>Personal loan<\/th>Personal line of credit<\/th><\/tr><\/thead>
Loan amount<\/td>From $3,000 (borrow a maximum of $200,000 with an unsecured loan)<\/td>$5,000 and up (unsecured), $10,000 and up (secured)<\/td><\/tr>
Loan term<\/td>1 - 5 years<\/td>Open<\/td><\/tr>
APR<\/td>Varies<\/td>4.45% + amount that varies based on your financial situation<\/span><\/td><\/tr>
Serviced provinces<\/td>Across Canada
<\/td>		All<\/td><\/tr>
Eligibility requirements<\/td>Must not have been declined for credit by CIBC in the last 6 months and must not have declared bankruptcy in the past 7 years. If applying for an unsecured loan, you must have a minimum total annual income (gross) of $17,000.<\/td>Must not have been declined for credit by CIBC in the last 6 months and must not have declared bankruptcy in the past 7 years. If applying for an unsecured line of credit, you must have a minimum total annual income (gross) of $20,000.<\/td><\/tr><\/tbody><\/table>

What are the interest rates of CIBC loans and lines of credit?<\/h3>

CIBC personal loan rates and line of credit interest rates are not listed online, so you\u2019ll need to apply or contact CIBC directly to find out what sort of rate you qualify for. The rate you get will be determined by factors such as:<\/p>