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Renaissance High Interest Savings Account

We’re thinking of your best interests with the Renaissance High Interest Savings Account (RHISA).

We’re thinking of your clients’ best interests with the Renaissance High Interest Savings Account (RHISA)

A well-diversified portfolio includes a cash component that offers investors liquidity and convenience.

With the Renaissance High Interest Savings Account, you can enjoy these advantages but also benefit from high earning potential and added security on the cash portion of your investment portfolio.

Available for registered and non-registered investments, this account is an ideal vehicle for your short-term cash requirements.

Get regular interest on all balances. Interest is calculated daily on the opening balance and is paid monthly to the account as reinvested distributions.

Plus, get a promotional interest rate if below indicates that your RHISA is eligible for a promotional interest rate. We introduce promotional offers from time to time.

Speak to your advisor to get additional information on Series A and Series F RHISAs and which Series may be right for you. Please refer to Investment Returns section for interest calculation.

Available for registered and non-registered investments, this account is an ideal vehicle for your clients’ short-term cash requirements and provides a competitive dealer compensation.

Your clients can get regular interest on all balances. Interest is calculated daily on the opening balance and is paid monthly to the account as reinvested distributions.

Plus, your clients can get a promotional interest rate if below indicates that their RHISA is eligible for a promotional interest rate. We introduce promotional offers from time to time.

Renaissance High Interest Savings Account

CAD-Series A1
ATL5070
CAD-Series F1
ATL5071
4.55%4.80%
Promotional Rate
Eligible New Deposits only* (up to $7.5MM) to RHISAs held by:
CIBC Wood GundyAll Other Dealers
0.45%0.45%

Renaissance USD High Interest Savings Account

USD-Series A1
ATL5074
USD-Series F1
ATL5075
4.90%5.15%
Promotional Rate
Eligible New Deposits only* (up to $7.5MM) to RHISAs held by:
CIBC Wood GundyAll Other Dealers
0.45%0.45%

Key Benefits

Earning Potential

  • Greater earning potential with higher interest rates
  • Interest accrued daily and paid monthly

Added Security

  • The Renaissance High Interest Savings Account is eligible for CDIC insurance
  • Offered through CIBC Asset Management Inc. (CAMI) and issued by CIBC, one of North America’s leading financial institutions
  • Canadian Imperial Bank of Commerce is a member of CDIC

Greater Convenience

  • Available in Canadian and U.S. dollars
  • No maturity date or lock-in period
  • Access to savings at any time without penalty
  • Available through FundSERV with T+1 settlement
  • Easy switching between RHISA and mutual funds managed by CAMI

Product Features

Product Name (Fund Code and Series)

Renaissance High Interest Savings Account

  • ATL5070: Series A
  • ATL5071: Series F

Renaissance USD High Interest Savings Account

  • ATL5074: Series A
  • ATL5075: Series F

CDIC Eligible

Yes.

Issuer Information

Product issued by Canadian Imperial Bank of Commerce.

Investment Type

High interest rate bank account.

Eligibility

Canadian residents only.
Registered and non-registered plans.

Currency

Canadian dollar or U.S. dollar.

Minimum Initial Investment2

Renaissance High Interest Savings Account: $50
Renaissance USD High Interest Savings Account: $50 (in U.S. dollars)

Maximum Investment

Renaissance High Interest Savings Account

  • Unlimited where held by an individual
  • $7,500,000 where held by a corporation

Renaissance USD High Interest Savings Account

  • Unlimited where held by an individual
  • $7,500,000 where held by a corporation (in U.S. dollars)

Characteristics

Unlimited number of deposits and withdrawals, subject to maximum investment limit.

Investment Return

Interest rates are subject to change at any time without prior notice.

Interest is calculated daily on opening balance and is paid monthly to the account as reinvested distributions.

Promotional interest rates (if applicable), apply only to new eligible deposits in Renaissance High Interest Savings Account as described in the below terms and conditions. Existing balances prior to the beginning of the promotion will not be eligible for the promotional interest rate.

The Renaissance High Interest Savings Account is offered by Canadian Imperial Bank of Commerce (CIBC), through its wholly owned subsidiary CIBC Asset Management Inc. CIBC is a CDIC member institution.

The Renaissance High Interest Savings Account is eligible for CDIC insurance, subject to CDIC rules and regulations. Deposits made to the Renaissance High Interest Savings Account and to other CIBC products are aggregated and eligible for CDIC protection up to $100,000, per category, per depositor.

The material and/or its contents may not be reproduced or distributed without the express written consent of CIBC Asset Management Inc.

1Interest rates quoted are annual rates, effective January 17, 2024 and may change at any time without prior notice.

2Your dealer may have its own minimum investment requirement.

Promotional Interest Rates.

The promotional interest rate is effective February 12, 2024 (the “promotion start date”) until June 12, 2024 (the “promotion period”) for any eligible new deposits as described below.

A. *Eligible new deposits are deposits that exceed the daily opening balance of the Renaissance High Interest Savings Account (“RHISA CAD”) or Renaissance USD High Interest Savings Account (“RHISA USD”), as applicable, as at the promotion start date (“new deposits”) and do not include:

  • i. new deposits that exceed $7,500,000 CAD for the RHISA CAD or $7,500,000 USD for the RHISA USD (each a “Promo Interest Balance Cap”);
  • ii. any accrued interest paid out to the account during the promotion period; and
  • iii. any funds transferred from a product offered by CIBC or its affiliates.

B. Promotional interest is calculated daily at the current rate on the portion of the opening balance of the account made up of eligible new deposits and paid monthly. Rates shown are annual interest rates.

C. Promotional interest will also be paid on new deposits that exceed the applicable Promo Interest Balance Cap, and such excess promotional interest will be withdrawn from the account within 90 days after the promotion period.

D. If at any time, during the promotion period, a transaction brings the balance lower than the opening balance as at the promotion start date, then the account will no longer receive the promotional interest rate on any new deposits until the balance is greater than the opening balance as at the promotion start date.

E. Promotional interest rates are subject to change at any time and may not be combined with any other rate offer. The promotional interest rates are applicable for both Series A and Series F deposits.

F. All deposits are subject to maximum investment limitations applicable to their account.

G. We can change these terms and conditions, including the Promo Interest Balance Cap, or withdraw this RHISA promotional interest rate offer at any time without notice. We reserve the right, in our sole discretion, to disqualify, limit or revoke this RHISA promotional interest rate offer in respect of any client for who it is determined or we believe is manipulating this promotional interest rate offer. This RHISA promotional interest rate offer is not transferable. We may, without notice to you, at any time reverse or correct any promotional interest which was paid to your account in error or not in accordance with these terms and conditions.

The Renaissance High Interest Savings Account and Renaissance USD High Interest Savings Account are eligible for deposit insurance from the Canada Deposit Insurance Corporation, subject always to maximum coverage limitations as outlined by the CDIC in Protecting Your Deposits.

The information contained herein is considered accurate at the time of posting. CIBC and CIBC Asset Management Inc. reserve the right to change any of it without prior notice. It is for general information purposes only.

The Renaissance High Interest Savings Account is offered by Canadian Imperial Bank of Commerce (CIBC) through its wholly owned subsidiary CIBC Asset Management Inc. (CAMI). Renaissance Investments is offered by CIBC Asset Management Inc. The material and/or its contents may not be reproduced or distributed without the express written consent of CIBC Asset Management Inc.