Benefits of Fixed Deposits
You decide how much you want to invest - A CIBC FirstCaribbean Fixed Deposit is a very flexible investment option.
Once you meet the minimum investment requirement, you can deposit any sum of money for a fixed period of time (or 'term'), usually between 30 days and one year. Generally, the longer the term of your fixed deposit, the higher the interest rate you will be offered.
Know that your money is safe with us - A CIBC FirstCaribbean Fixed Deposit is virtually risk-free. The initial sum of money that you invest is returned to you with interest when your Fixed Deposit matures and the interest rate that we offer you is guaranteed. With other types of investments, interest rates may fluctuate and your initial investment amount is usually not guaranteed.
Enjoy more flexibility at maturity - You'll receive a statement from us advising you of the date that your Fixed Deposit is due to mature. At that time, you have several options. You may choose to:
- Withdraw both your initial investment and the interest you've earned in cash or have the funds deposited to any of your CIBC FirstCaribbean accounts
- Withdraw the interest earned (either in cash or deposited automatically to another CIBC FirstCaribbean account) and renew your Fixed Deposit for another term
- Reinvest both your initial investment and the interest you have earned in another Fixed Deposit. (This is usually called 'rollover'.)