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CIBC Agility Savings review

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Grow your savings through a 100% online account with a 0.8% APY.

finder.com’s rating: 4.3 / 5.0

★★★★★

In a world full of savings options, this is a good one if you’ve already set aside some money for a future goal. Its interest rates and fees are competitive, but its high $1,000 minimum deposit could hold you back.

0.80%

APY

$0

Fee

$1,000

Minimum deposit to open

Details

APY0.80%
Fee$0
Minimum deposit to open$1,000
Minimum balance to earn interest$0.01
Interest compoundingMonthly
Monthly transaction limit6
Fee per transaction over the limit$10
More Info

Expert review

Ryan Brinks

Review by


As the news editor at Finder, Ryan Brinks melds decades of experience in business news and online content into creating comprehensive and helpful comparisons of the companies you trust your money with. He loves to innovate and put money to work while keeping a careful eye on managing risk. Beyond work, Ryan's also passionate about his family and serving his community.

Expert review

CIBC’s Agility Savings account is best for those who have at least $1,000 ready to set aside. The account offers a high 0.8% APY and 24/7 online support.

But this is an online-only account. If you prefer in-person banking, you’d likely be better served using CIBC’s more traditional personal savings account.

What are the benefits of the CIBC Agility Savings account?

Here are the highlights that will likely catch your eye:

  • High interest. Earn a 0.8% APY and watch your money grow. Most savings accounts offer 0.06% APY or less.
  • 24/7 access to your account. Check your balance, transfer funds and get e-statements at any time from your computer and through the CIBC app with this online-only account.
  • No maintenance fees. Pay no monthly maintenance fees.
  • Insured and protected. The FDIC will insure your hard-earned funds up to $250,000.
  • Support. Contact customer support by phone, email or through the app.

What should I look out for?

Consider these drawbacks before deciding if this account is for you:

  • High opening deposit. The account requires a minimum initial deposit between $1,000 and $250,000. And your account balance cannot exceed $1 million.
  • It’s only available to US citizens. All account holders must be US citizens and US residents.
  • Initial limited transfer of funds. External transfers are not permitted for the first 90 days from the date the account is opened.
  • Check holds. Check deposit are subject to a 10-business-day hold.
  • Limited transfers. Since this online-only account won’t allow for ATM withdrawals, you can only access funds by making a preauthorized, automatic or telephone transfer to one of your other accounts.

If you prefer a high-yield savings account with in-person banking, you’ll want to keep looking. As always, compare your options when choosing a savings account.

Compare with other savings accounts

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Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned More info
Citibank® Account Package

0.13% on $500,000+
0.08% on $25,000 to $99,999.99
0.04% on $0 to $24,999.99
$25 per month
(can be waived)
$0
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Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
American Express® Personal Savings High Yield Savings
0.60%
$0
$0
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Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
CIT Bank Money Market
0.60%
$0
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A savings account with a higher-than-average rate and minimal fees.
Chase Savings
0.01%
$5 per month
(can be waived)
$0
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A simple savings account with low, waivable monthly fees and a $150 signup bonus when you meet deposit and balance requirements.
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0
$10
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A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
CIT Bank Savings Builder High Yield Savings Account

0.55% on $25,000+ or set up a direct deposit of $100+ each month
0.31% on $0 to $24,999
$0
$100
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No account opening or maintenance fees. Daily compounding interest. Earn one of the nation's top rates
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Compare up to 4 providers

How do I open an account?

If you’re ready to open an account, follow the following steps and have the necessary documents ready:

  1. Go to the CIBC website and select Agility Savings Account from the menu.
  2. Click the Apply Now button.
  3. Assemble the required information under Get Started and click Continue.
  4. Fill out the fields under Your Information and continue through the other tabs titled Accept Disclosures, Fund Your Account and Finishing Up.

Eligibility requirements

To be eligible for a CIBC Agility Savings account, you’ll need to gather a few key pieces of information and meet certain minimum requirements. In addition to being a US citizen who currently lives in the US, you’ll need to provide the following:

  • Social Security number.
  • Employment information.
  • Driver’s license or state-issued ID.
  • Information about joint savings account owner, if you have one.
  • Home address.
  • A minimum deposit of $1,000.

How do I deposit or withdraw my money?

When it comes time for you to withdraw your funds, you have some options.

Initial deposit. Choose from three options to make your initial deposit of $1,000:

  • Internal transfer from an existing account at CIBC Bank USA by the primary or joint account holder.
  • ACH debit to an account at another bank.
  • Mail a cashier’s check or personal check to the bank. If a deposit is made by check, the funds are subject to a 10-business-day hold.

Additional deposits. Deposits may be made at any time by initiating a transfer through an external bank account. Deposits that bring the total balance to more than $1 million aren’t permitted.

Transfers. Transfers to another bank must be initiated through the external bank account.

Withdrawals. Withdrawals can be made by transferring money to an external account or by sending a message through the Contact Us link online. A written request may also be sent to CIBC c/o CIBC Agility Savings Account Department, 6825 West 111th Street, Worth, Illinois 60482.

How can I get in touch with customer service?

Customer service can be reached in the following ways:
Phone: 844-704-7882, Monday through Friday from 8 a.m. to 7 p.m. CT and Saturday from 8 a.m. to 1p.m. CT.
Email: us.onlinesupport@cibc.com.
App: Download and use the smartphone app.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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