January 16, 2021
Hi, new to forum. I notice Simplii has a 2% promo rate on new money, however promo expires at end of March 2021 and pays out in April 2021.
The terms state:
The special annual interest rate of 2.00% is a combination of the regular annual interest rate set by Simplii Financial payable on an Eligible Account balance (“Regular Interest”), plus the promotional annual interest rate (“Promotional Interest”) that is calculated at the end of the Offer Period on the Additional Balance as defined below. Any change to the Regular Interest rate will result in a corresponding change to the Promotional Interest rate so that the overall special annual interest rate of 2.00% will remain the same during the Offer Period.
Here's my question:
Let's say someone opens an account with Simplii to take advantage of this 2% rate. If $25K we're deposited into Simplii Feb 1st, I assume the $25K would only earn $41 in Feb, and $41 in March... am I correct? (2% of $25K = $500, divided by 12 months = $41.66/month).
There's no way it could be 2% of $25K and paying out the full $500 in April, if only using the HISA for 2 months.... right? 🙂
A realize this is a bit silly but just want checking if its worth it to sign up...
April 6, 2013
March 30, 2017
September 6, 2020
September 11, 2013
May 22, 2015
April 6, 2013
Simplii has extended their general offers on a targeted basis.
That was reported in February 2019 by some people in Simplii Financial Extends its 3.15% Promo (November 1, 2018 - June 30, 2019)
February 20, 2018
July 9, 2020
Whats Simplii offering for existing n new money
If no promo, Simplii's HISA is 0.10% for any money (existing or new is irrelevant).