CIBC Auto Banking Services
Get your wheels on the road … with the CIBC Bank Limited Internet Banking
CIBC Internet Banking Services offer secure, 24/7 account access, mobile banking, bill payments, and easy fund transfers for effortless financial management.
Features
- Borrow $50,000.00 to $150,000.00
- Payment over 12 to 48 months
- Contribute as low as 20% towards the purchase.
- Comprehensive Insurance on the car for the entire loan period
- No security required
- Competitive pricing and no hidden charges.
Benefits
- Installation of free tracking device for auto valued at $300, 000 and above(Free for cars above $3milion otherwise, $50,000.00)
- Buy a car of your choice from our list of acceptable brands and spread payment over a convenient period
- We have reliable dealers accredited to ensure you buy from a safe source.
- Convenient insurance payment included in the loan repayment amount
- No residual cost at end of loan tenure
Account Eligibility
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for an account.
Car Loan Amortization Schedule
| Year | Opening Balance | EMI*12 | Interest paid yearly | Principal paid yearly | Closing Balance |
|---|---|---|---|---|---|
| 1 | 25,00,000 | 2,28,109 | 1,66,879 | 61,231 | 24,38,769 |
| 2 | 24,38,769 | 2,28,109 | 1,62,615 | 65,494 | 23,73,276 |
| 3 | 23,73,276 | 2,28,109 | 1,58,055 | 70,054 | 23,03,222 |