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OTR – Simplii HISA rate change
March 10, 2020
6:52 am
hwyc
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Down from previously 1.05%

Capture.JPG

... very bad news to deposits before October 31, 2019, there is a tipping point where the benefits of the new money (2.8%) is not enough to shield the old (0.70%).

March 10, 2020
2:18 pm
Winnie
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Simplii 2.8% promo magically disappeared from Simplii website and now is back again.

March 10, 2020
2:32 pm
Winnie
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March 25, 2020
6:09 am
hwyc
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OTR - screenshot taken today HISA is 0.50%
Capture-simplii.JPG

March 25, 2020
6:50 pm
Save2Retire@55
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Simplii is always weird. They don't depost the special rate monthly but wait when the promotion time is over. Guess they are saving themselves money by not paying interest on the special interest income.

Amazing they now have a live Chat Support! I just confirmed with them, The promotional interest will be paid out in a lump sum at the end of May.

April 17, 2020
7:15 am
hwyc
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OTR - screenshot taken today HISA is 0.30%

Capture-Simplii-HISA-rate-.JPG

How do you verify interest earned if your FI will not date these changes?sf-confused

April 17, 2020
1:33 pm
Loonie
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Phone them and ask what changes have taken place since your last statement.

April 17, 2020
1:51 pm
Kidd
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hwyc.

I can only speak to the financial institutions i deal with. Both mailed and online statements clearly show interest rate changes and the date the new rate was implemented.

Mailed statements might be quarterly or bi yearly, online statements appear monthly.

April 17, 2020
5:31 pm
Save2Retire@55
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https://www.simplii.com/en/special-offers/high-interest-savings.html

No monthly fees. Great rates. As simple as that.™
Treat yourself with 2.8%†
Open any Simplii Financial™ savings account and you’ll automatically be signed up for a special interest rate offer on eligible deposits until April 30, 2020.

LIMITS APPLY. OFFER ENDS APRIL 30, 2020.

We are good for 2 more weeks then back to Tangerine for their NOT 2.75% for some more months. Such a misleading bank they became.

From Tangerine:

Current Interest Rate 0.25%
Your activated special offer:

Earn 2.75% interest until June 30, 2020 on up to $1,000,000† in new deposits to your Tangerine Savings Account(s), RSP Savings Account(s), Tax-Free Savings Account(s), and US$ Savings Account(s) made between February 6, 2020 and June 30, 2020.

April 20, 2020
7:54 pm
cruzinalong
Ontario
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Loonie said
Phone them and ask what changes have taken place since your last statement.  

What a joke. .3% why bother.

April 21, 2020
3:24 pm
cruzinalong
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Save2Retire@55 said
Simplii is always weird. They don't depost the special rate monthly but wait when the promotion time is over. Guess they are saving themselves money by not paying interest on the special interest income.

Amazing they now have a live Chat Support! I just confirmed with them, The promotional interest will be paid out in a lump sum at the end of May.  

I never tried this promotional interest on Simplii. I signed up for a bonus deal on Tangerine in March 2019. Tangerine calculates how much interest you get in the month. They pay the interest on the last day of the month. The following day they determine how much bonus interest you made over the bonus period. April 1, 2019 I collected 18 cents promotional bonus interest. On May 1 ,2019 I collected 1 cent promotional bonus interest. Personally I do not know why they bother. I signed up for the bonus interest promotion. No bonus interest on April 1, 2020. Enjoy the day.

April 21, 2020
3:27 pm
cruzinalong
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I missed the date in the previous reply. I signed up for the Tangerine deal this March 2020. No promotional interest April 1, 2020.

August 4, 2020
3:07 pm
hwyc
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Checking today & HISA rate is 0.20% on Simplii website ... not sure when the drop happened

August 5, 2020
8:05 am
Save2Retire@55
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Happy to keep receiving 0.20% on my $1 in Checking and $1 in Saving account.
Same for Tangerine.

August 5, 2020
2:04 pm
Loonie
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Save2Retire@55 said
Happy to keep receiving 0.20% on my $1 in Checking and $1 in Saving account.
Same for Tangerine.  

Me too. It's so much simpler to keep track of my finances and tax returns when the interest earned is zero.sf-wink

November 17, 2020
7:22 am
hwyc
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Checking today & rate is 0.10% on Simplii website
... I think this happen after Tangerine's drop
... pretty sure it's 0.15% before

... nobody cares because by now everybody should have gotten at least the 2% till end-of-march 2021 promosf-wink

November 17, 2020
7:34 am
Norman1
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It was 0.20% as late as October 28.

It was 0.15% when I checked on Friday, November 13.

November 17, 2020
10:17 am
topgun
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After all these years dealing with Tangerine I will not receive a T5 slip. Not even close to $50 interest since most of my savings removed in 2019.

Have a Great Day

November 17, 2020
2:42 pm
topgun
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OTR Sorry I do not know what this means? Please explain.

Have a Great Day

November 17, 2020
4:48 pm
dougjp
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hwyc said
Checking today & rate is 0.10% on Simplii website
... I think this happen after Tangerine's drop
... pretty sure it's 0.15% before

... nobody cares because by now everybody should have gotten at least the 2% till end-of-march 2021 promosf-wink  

To clarify, those getting the 2.3% or 2% get that, or slightly less?

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