Which is the best big bank in Canada — CIBC, TD, or RBC?

It depends on your priorities. RBC has the most ATMs and broadest product lineup. TD has the longest branch hours ("Americas most convenient bank"). CIBC often has the lowest fees and most competitive rates. All three offer similar core products.

Which big bank has the lowest fees?

CIBC generally offers the lowest chequing account fees among the Big 3. The CIBC Smart Account starts at $4.95/month (waivable). TD and RBC basic accounts range from $3.95-$5.95/month. All three banks offer no-fee options for students, youth, and seniors.

Which bank has the best savings and GIC rates?

All Big 5 banks offer low savings rates (0.5-2.0%) compared to online banks (4.0%+). For GICs, CIBC tends to offer slightly better rates than TD and RBC. For high interest savings, consider online alternatives like EQ Bank or Wealthsimple alongside your big bank.

Can I bank with an online bank and a big bank at the same time?

Yes, and many Canadians do exactly this. Use a Big 5 bank for chequing, branch access, and mortgages, and an online bank (EQ Bank, Tangerine) for high-interest savings and GICs. There is no restriction on having accounts at multiple banks.

CIBC vs TD vs RBC 2026 | Big Bank Comparison

Overview

Feature	CIBC	TD	RBC
Branches	~950	~1,100	~1,200
ATMs	~3,400	~4,000	~4,500
Branch hours	Standard	Extended (some to 8pm, Saturdays)	Standard
Mobile app rating	4.7/5	4.7/5	4.7/5
Brand position	Value-focused big bank	Most convenient hours	Largest bank in Canada

Chequing Accounts

Account	CIBC	TD	RBC
Basic account	Smart Account $4.95/mo	Minimum Chequing $3.95/mo	Day to Day Banking $4.95/mo
Basic — free transactions	12/month	12/month	12/month
Mid-tier account	Smart Plus $16.95/mo	Unlimited Chequing $16.95/mo	No Limit Banking $16.95/mo
Mid-tier — transactions	Unlimited	Unlimited	Unlimited
Premium account	Smart Premium $32.95/mo	All-Inclusive $34.95/mo	VIP Banking $32.95/mo
Premium — waivable with balance	$6,000	$5,000	$5,000
Premium — perks	Travel insurance, no fx fees	Travel insurance, USD card	Multi-product rebate, travel insurance
Free student account	Yes	Yes	Yes
Free youth account	Yes	Yes	Yes
Free senior account	Discounted	Discounted	Discounted (60+)
No-fee option	Smart Account (waivable at $3,000)	Minimum (waivable at $2,000)	Day to Day (waivable at $3,000)

Savings Accounts

Feature	CIBC	TD	RBC
Regular savings rate	0.50-1.50%	0.05-1.50%	0.5-1.50%
HISA rate	1.50-3.20% (promos)	1.50-3.00% (promos)	1.50-2.75% (promos)
TFSA savings	Yes	Yes	Yes
RRSP savings	Yes	Yes	Yes
Bonus rate offers	Frequent promotional rates	Occasional	Occasional
Online vs branch rate	Online higher	Online higher	Online higher

All Big 5 banks offer significantly lower savings rates than online banks like EQ Bank (4.0%+).

GIC Rates

Term	CIBC	TD	RBC
1 year	3.00-4.00%	2.75-3.75%	2.75-3.75%
2 years	3.00-3.75%	2.75-3.50%	2.75-3.50%
3 years	3.00-3.75%	2.75-3.50%	2.75-3.50%
5 years	3.00-3.50%	2.75-3.25%	2.75-3.25%
Cashable GIC	2.50-3.50%	2.25-3.25%	2.25-3.00%
TFSA GIC	Yes	Yes	Yes

GIC rates are negotiable—especially for amounts over $50,000. Always ask for a better rate.

Credit Cards

No Annual Fee

Card	CIBC	TD	RBC
Best no-fee	Dividend Visa (0.5-1% cashback)	Cash Back Visa (0.5-1%)	Cash Back MC (0.5-1%)
Annual fee	$0	$0	$0
Interest rate	20.99%	20.99%	20.99%

Cash Back

Card	CIBC Dividend Platinum	TD Cash Back Visa Infinite	RBC Cash Back Preferred
Annual fee	$99	$89	$99
Grocery rate	4%	3%	2%
Gas rate	4%	3%	2%
Dining rate	2%	—	—
All other	1%	1%	0.5%

Travel Rewards

Card	CIBC Aventura Visa Infinite	TD Aeroplan Visa Infinite	RBC Avion Visa Infinite
Annual fee	$139	$139	$120
Earn rate	1.5-2× per $1	1-1.5 Aeroplan miles/$1	1-1.5 Avion points/$1
Travel insurance	Yes	Yes	Yes
Lounge access	Some	Maple Leaf lounges	Some
Best for	Flexible travel	Air Canada loyalty	RBC rewards ecosystem

Mortgages

Feature	CIBC	TD	RBC
Fixed 5-year rate	Competitive	Competitive	Competitive
Variable rate	Prime - discount	Prime - discount	Prime - discount
Pre-approval	Online	Online	Online
Mobile mortgage advisor	Yes	Yes	Yes
Prepayment privileges	20% lump sum + 20% payment increase	15% lump sum + double up	10% lump sum + 10% payment increase
Porting option	Yes	Yes	Yes
Blend & extend	Yes	Yes	Yes

CIBC generally offers the most generous prepayment privileges among the Big 3 (20/20). Always negotiate your mortgage rate — posted rates are starting points.

Investing

Feature	CIBC	TD	RBC
Self-directed platform	CIBC Investor’s Edge	TD Direct Investing	RBC Direct Investing
Stock/ETF commissions	$6.95/trade	$9.99/trade	$9.99/trade
Free ETF purchases	Select ETFs	Select ETFs	Select ETFs
Mutual funds	Yes (CIBC funds)	Yes (TD funds)	Yes (RBC funds)
Robo-advisor	CIBC Smart Invest	TD GoalAssist (limited)	RBC InvestEase
Robo fee	0.4-0.5%	0.35%	0.5%
Managed portfolio	Yes (CIBC Wood Gundy)	Yes (TD Wealth)	Yes (RBC Dominion Securities)
TFSA/RRSP/RESP/FHSA	Yes	Yes	Yes
Research tools	Good	Excellent (ThinkOrSwim)	Good

Digital Experience

Feature	CIBC	TD	RBC
Mobile app	Modern, well-designed	Feature-rich	Feature-rich
Mobile cheque deposit	Yes	Yes	Yes
Interac e-Transfer	Free with most accounts	Free with most accounts	Free with most accounts
Autodeposit	Yes	Yes	Yes
Real-time notifications	Yes	Yes	Yes
Apple Pay/Google Pay	Yes	Yes	Yes
In-app budgeting tools	Basic	Good	Good (NOMI Insights)
Virtual assistant	Yes	Yes	Yes (NOMI)

Who Should Choose Which Bank

Profile	Best Choice	Why
Lowest fees	CIBC	Most competitive pricing, generous waivers
Need branches open late	TD	Extended hours, Saturday banking
Most ATMs/widest coverage	RBC	Largest network in Canada
Best mortgage prepayment	CIBC	20/20 prepayment privileges
Self-directed investing	CIBC	Lowest commissions ($6.95 vs $9.99)
Travel card + Aeroplan	TD	Native Aeroplan earning
AI-powered insights	RBC	NOMI Insights, AI budgeting
Business banking	TD or RBC	Largest business networks
Small town access	RBC	Most branches outside major cities

Big Bank vs Online Bank

Factor	Big 5 (CIBC/TD/RBC)	Online Bank (EQ/Tangerine)
Branch access	Yes	No (or very limited)
Savings rate	0.5-2.0%	3.5-4.5%
Chequing fees	$4.95-$34.95/mo	$0
GIC rates	2.75-4.00%	3.75-4.50%
Mortgage rates	Negotiable (often higher posted)	Often lower
Credit cards	Full range	Limited
In-person service	Yes	Phone/chat only
Best strategy	Use for chequing + mortgage + credit cards	Use for savings + GICs