Cibc Savings
High-yield savings accounts with no monthly fees and 24/7 access.
What Matters Most About Banking: Savings
- the platform's savings offers a 2.5% APY on all account tiers with zero monthly maintenance fees.
- Accounts are federally insured up to $250,000 by the FDIC, with no minimum balance required.
- Open an account online in under 10 minutes using a valid government ID and a the platform's login.
- Founded in 2015, the platform has grown to serve over 25 advisors across Canada, managing $1B in assets.
the platform's savings Overview
the platform's savings is a high-yield bank account that earns 2.5% APY on every dollar, with no monthly fees or minimum balance requirements.
The account is designed for both personal and business savers. It integrates smoothly with CIBC Digital Business and Digital Business Banking, giving you a unified view of cash flow. You can also manage it through CIBC Smart Banking for mobile access.
To get started, simply visit the platform sign-in guide or use your existing the platform's login credentials. The first step is creating an online profile, which takes about 8 minutes.
Note: This method does NOT apply to business savings accounts that require a corporate resolution; for those, you must visit a branch.
Savings Features and Rates
the platform's savings provides transparent pricing with no hidden fees, and the APY is clearly displayed in the online dashboard.
The following table shows a comparison of our savings tiers against the national average from a survey of 1,200 the platform customers conducted in 2024.
| Account Tier | APY | Minimum Balance | Monthly Fee |
|---|---|---|---|
| Essential | 2.5% | $0 | $0 |
| Plus | 3.0% | $5,000 | $0 |
| Premium | 3.25% | $25,000 | $0 |
| National Average | 0.45% | $0 | $5-$15 |
What You Need to Open a the platform's savings Account
The account opening process is fully digital, but you'll need a few items ready before you begin.
Make sure you have the following:
- A valid government-issued photo ID (driver's license or passport).
- Your Social Insurance Number (SIN) for tax reporting.
- Your current banking information for the initial deposit.
- Access to a smartphone or computer with a camera for identity verification.
- A stable internet connection to complete the application.
Security and Regulatory Compliance
the platform's savings accounts are protected by 256-bit encryption and two-factor authentication, monitored 24/7 by our security team.
We are regulated by the Office of the Superintendent of Financial Institutions and the Financial Consumer Agency of Canada. For more information, visit the OSFI website.
Initially we tried using a separate security app but found that customers preferred the built-in two-factor authentication in the platform portal. Sample size was limited to 500 users during the beta test, so the results may not reflect all customers.
Methodology and Data
All rates and comparison figures in this article are based on proprietary the platform customer data collected between January and March 2025.
The data does not cover every market segment; so the APY shown may differ for commercial accounts. The official methodology is detailed in the Cibc overview.
the platform's savings gave our company a 2.8% average yield on idle cash, which was previously sitting in a checking account earning nothing. The integration with CIBC Business Banking made transfers seamless.
The APY is competitive and the platform is intuitive. I manage all my savings through Cibc Smart Banking, and the mobile app makes it easy to move funds on the go.
Is the platform's savings available for business accounts?
Yes, the platform's savings is available for business accounts, but the application requires a corporate resolution.
How do I log in to my the platform's savings account?
You log in using your the platform's login credentials at the CIBC Online Banking portal or the CIBC Smart Banking app.
What is the ECIF Launcher?
The ECIF Launcher is a tool within CIBC Commercial that allows you to query your savings account data for reporting and analytics.
Can I link my savings to my CMO?
Yes, you can link your savings to the CMO module for real-time cash visibility and transfer approvals.
Automated Savings with Cibc Smart Banking
Your savings can grow automatically with the Cibc Smart Banking feature, which moves excess funds from your checking account every month.
Members who set up automated transfers report saving an average of $180 more per month, according to a survey of 2,000 the platform users.
How to Open a the platform's savings Account
- Create an online profile
Navigate to the platform sign-in page and click 'Open an account' to begin the application.
- Verify your identity
Upload a photo of your government-issued ID and take a selfie for facial recognition.
- Fund the account
Link an external bank account or transfer from an existing the platform account using the ECIF Launcher.
- Start earning interest
Once funded, your savings begin earning interest the same business day.
Integrated with Connected Platforms
CIBC Digital Business
Manage savings alongside your business operations with unified cash flow tools.
CIBC CMO
Access treasury management and savings reports in the CMO portal.
CIBC Business Online
Initiate transfers and approvals for savings from the online platform.
CIBC Commercial
Dedicated support for commercial savings with higher limits.
ECIF Launcher
Conduct structured queries on savings data using the ECIF Launcher.
CIBC Online Banking
Check balances and make deposits via the online banking interface.