2.8% promo interest on new money to Savings, RRSP, TFSA (November 1, 2019 - April 30, 2020) | Simplii Financial (formerly PC Financial) | Discussion forum

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2.8% promo interest on new money to Savings, RRSP, TFSA (November 1, 2019 - April 30, 2020)
November 1, 2019
5:40 am
Alexandre
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https://www.simplii.com/en/special-offers/high-interest-savings.html

Q.: How do I get bonus interest?

A.: It’s simple: you’ll get bonus interest on all new deposits into any Simplii Financial High Interest Savings Account, Tax-Free Savings Account or RRSP Savings Account. This offer ends April 30, 2020.

November 1, 2019
5:45 am
savemoresaveoften
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Is it new account or existing accounting with new money good as well ?

November 1, 2019
6:23 am
Norman1
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Existing accounts need to be signed up:

The Simplii FinancialTM promotional savings interest rate offer (the “Offer”) is available between November 1, 2019 – April 30, 2020 (the “Offer Period”) to Eligible Savings Accounts and Eligible Registered Savings Accounts (together, “Eligible Accounts”) that meet all of the applicable terms and conditions below. Only primary account holders are eligible for the Offer.

“Eligible Savings Accounts” means a Simplii Financial High Interest Savings Account and/or Savings Account. “Eligible Registered Savings Accounts” means a Simplii Financial Daily Interest RRSP Account and/or RRSP Savings Account, or Tax Free Savings Account.

How to Enrol in the Offer

For Eligible Accounts opened before the Offer Period, to participate in the Offer, the primary account holder must enrol during the Offer Period by (i) accepting the online offer through online banking, (ii) selecting the “accept” button for e-mail offers, or (iii) calling 1-866-747-8128 to complete enrolment.

Eligible Accounts opened during the Offer Period will be automatically enrolled in the Offer.

The Offer

The special annual interest rate of 2.80% is a combination of the regular annual interest rate set by Simplii Financial payable on an Eligible Account (“Regular Interest”), plus a promotional annual interest rate (“Promotional Interest”) that is calculated for the Offer Period on, as applicable, the Additional Balance or New Balance (each as defined below). Any change to the Regular Interest rate will result in a corresponding change to the Promotional Interest rate.

For Eligible Accounts opened before the Offer Period, Promotional Interest is calculated, at the end of the Offer Period, on the portion of the applicable account’s average daily closing balance during the Offer Period that exceeds the closing balance as at October 31, 2019 (the “Additional Balance”), to a maximum Additional Balance amount of $500,000 in each of a primary account holder’s (i) Eligible Savings Accounts, collectively, (ii) Simplii Financial Daily Interest RRSP Account and/or RRSP Savings Account (together “RRSP Accounts”), and (iii) Tax Free Savings Account (“TFSA”). If an Eligible Account is overdrawn as at October 31, 2019, the closing balance is deemed to be $0.00.

For Eligible Accounts opened during the Offer Period, Promotional Interest is calculated, at the end of the Offer Period, on the Eligible Account’s average daily closing balance from the date the Eligible Account is opened to the end of the Offer Period (the “New Balance”), to a maximum New Balance amount of $500,000 in each of a primary account holder’s (i) Eligible Savings Accounts, collectively, (ii) RRSP Accounts, and (iii) TFSA.

Promotional Interest will not be paid on existing funds that were in any Simplii Financial deposit or registered account as at October 31, 2019 and are transferred to an Eligible Account during the Offer Period.

November 1, 2019
6:45 am
savemoresaveoften
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Thanks. I logged in online but do not see the popup to sign up. Called them and they process it manually for me.

November 1, 2019
7:02 am
Norman1
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In the past, it has taken a week or so for the sign in popup to be implemented on their web site. Same with sending out the e-mail with the confirmation button.

November 1, 2019
8:01 am
GR
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Reminder that Simplii will pay the bonus portion of the interest in a lump sum around the middle of May 2020. Some members have noted that they needed to follow up with Simplii as their bonus interest was delayed or unpaid after the last promotion period.

Reminder that Simplii calculates month-end interest from the last day of the previous month to the second to last day of the current month.

Simplii apparently also has a couple of promotions until end of January to earn bonus cash. One is for paying a couple of vendors at least twice from your Simplii account (earn $75). Another is to set up recurring monthly deposit credits to your Simplii account for payroll or pension (earn $125). Phone them for more details and eligibility.

November 1, 2019
9:05 am
Bill
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Just called, half hour wait on phone - good thing I've got one of those newfangled speaker phone deals, I could continue with my household chores while I waited. I'll wait to get the promised confirming email before I move money in.

November 1, 2019
10:10 am
rhvic
Victoria, BC
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When I log into my Simplii account and click on "offers and products" I do not get the web link in the first posting above - no mention of the special 2.8% offer. However when I did phone the number (and used their call back system which took about 30 minutes - beats being on hold!) I was able to enrol. The agent said I should have a confirmation email in 2 business days.

Thanks Alexandre for posting this news.

November 1, 2019
10:21 am
rhvic
Victoria, BC
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Wow, Simplii's email confirmation of the 2.8% rate until April 30/2020 just arrived, less than 15 minutes after I enrolled! Now I gotta catch my breath....

How long before Tangerine launches a new offer?

November 1, 2019
12:07 pm
frizun
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Got my email confirm as well.
Nice to have,given that there is nothing in online banking that says what interest rate you are getting.

November 1, 2019
4:11 pm
Save2Retire@55
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LOL> As soon as I initiate a transfer from Tangerine to EQ, I log in the site and see this. Going to cancel the transfer to EQ and use this one instead. Thanks for posting it.

November 2, 2019
3:20 am
Joe
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rhvic said
Wow, Simplii's email confirmation of the 2.8% rate until April 30/2020 just arrived, less than 15 minutes after I enrolled! Now I gotta catch my breath....
  

thats-what-winning.jpg

November 2, 2019
7:44 am
money grabber
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Called simplii they said this offer is only good for new money not existing money. So need to find best deal out there now. Any suggestions for hisa account.

November 2, 2019
8:24 am
Norman1
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Yes, the 2.8% offer is only for new money to Simplii Financial. This part of the offer excludes any existing money as of October 31:

Promotional Interest will not be paid on existing funds that were in any Simplii Financial deposit or registered account as at October 31, 2019 and are transferred to an Eligible Account during the Offer Period.

November 2, 2019
11:54 am
Selkirk
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money grabber said

Called simplii they said this offer is only good for new money not existing money. So need to find best deal out there now. Any suggestions for hisa account.  

Motive 'Savvy Savings Account' @ 2.80%

Link ➡ https://www.motivefinancial.com/Accounts/SavvySavingsAccount/

Selkirk (a.k.a. Dean) sf-cool

November 3, 2019
1:47 pm
Good
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Thank you for this post.This is one of the best ones.Plus it is a big bank owned by CIBC.

Safe and do not have to worry. Plus they give you free cheques and free interact transfers.

Better offer then Bank Of Nova Scotia .

You do not have to lock up your money. And any new deposits will get the promotion.

Once again thank you for the post.

November 4, 2019
7:25 am
Good
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Called in early this morning to get enrolled in the offer.
Give Simplii Financial credit received confirmation e-mail in under 30 minutes.

November 4, 2019
9:33 am
Bud
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Better to call-in for the deal or "sign online to apply, simplii clients only"?

November 4, 2019
9:46 am
Good
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Wait times are long if you do not call in early in the morning.

If you already have a account with them Bud it is quicker "sign online to apply, simplii clients only"?

Here is the small print

Eligible accounts opened during the Offer Period are automatically enrolled in the offer.

Excellent offer and safe because it is owned by CIBC.

November 4, 2019
4:56 pm
dentgal
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I called. Waited 1 hour for a call back. 2.8 on NEW MONEY only, not on the money that you already have there.
I received a targeted CIBC e-savings promo of 2.75% till Feb 29, 2020, so good bye Simplii and hello to CIBC.

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