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How to Pay Back your CEBA Loan at CIBC: A Comprehensive Guide

If you're one of the many Canadian businesses that utilized the Canadian Emergency Business Account (CEBA) loan from CIBC during the COVID-19 pandemic, you might be wondering how to begin the repayment process. Rest assured, CIBC has various hassle-free ways to repay your CEBA loan, and this article is here to guide you through each option. Whether you prefer Online Banking, Mobile App, or Customer Call Service, we will walk you through every step to ensure a seamless repayment process.

Option 1: Online Banking

Online banking is the quickest and most convenient way for CIBC customers to manage their CEBA loan. It's available round the clock and lets you start your repayment process right from the comfort of your home or office. Here's how to do it:

• Visit the CIBC website and log in to your online banking account.
• Navigate to your loan section, where you'll find your CEBA loan account.
• Select the option to 'Make a Payment'
• Follow the prompts to complete your transaction, selecting the payment source and the amount you wish to repay.
• Confirm your details and submit your payment.

Option 2: Mobile App

If you're always on-the-go, CIBC's mobile app serves as a handy tool for all your banking needs, including the repayment of your CEBA loan. Secure and user-friendly, here's how to use the app to repay:

• Download the CIBC Mobile Banking App from Apple's App Store or Google's Play Store.
• Log in to the app using your banking credentials.
• Find your CEBA loan in your list of accounts.
• Select 'Pay Bill' or 'Transfer funds' under the account settings.
• Choose the source account for the repayment and the amount you wish to pay.
• Check the details before confirming the transaction.

Option 3: Call Customer Service

For those who prefer a more personalized approach, CIBC's customer service representatives are always there to assist you. They are available to guide you through the repayment process and answer any questions you might have. Here is how to reach out to them:

• Call CIBC's customer service helpline at 1-800-465-2422.
• Provide your account details and express your intention to repay your CEBA loan.
• The representative will guide you through the repayment process.

Regardless of the method you choose, it's important to ensure you're making your repayments on time. Keep a regular check on your CEBA loan account, plan your payments well in advance, and reach out to CIBC's customer service in case of any concerns. With this comprehensive guide, you're well on your way to repay your CEBA loan in an organized and stress-free manner.