Targeted 5.5%-5.75% offer 11 April - 15 July | Simplii Financial | Discussion forum

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Targeted 5.5%-5.75% offer 11 April - 15 July
April 11, 2024
1:42 pm
JohnnyCash
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Hot off the press, another targeted promotional offer from Simplii, YMMV. Login to see if you've received an offer.

April 11, 2024
1:44 pm
Peter
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Thanks for the heads up! Looks like I got a 5.50% offer.

April 11, 2024
2:27 pm
Dean
Valhalla Mountains, British Columbia
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.
That sure puts Tang's 4.75% offer to Shame ❗

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

April 11, 2024
2:52 pm
Top Dogg
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My funds just go into Manulife for the 5.75% promo today and then Simplii Financial offers me this rate...hilarious! That the way of the "promotional interest rate" game.

April 11, 2024
2:52 pm
Top Dogg
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Dean said
.
That sure puts Tang's 4.75% offer to Shame ❗

    Dean

  

Even more shame than the 4.25% that they offered me! Shameful!!

April 11, 2024
5:03 pm
hwyc
GTA
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Fact check on 5.75% targeted offer in the thread subject pls. Is it only for a new HISA account?

The 5.50% offer I got is not a pop-up after sign-on like before, it is located under the My Offer tab.

Capture-Simplii-offer.JPG

April 11, 2024
6:00 pm
LK
British Columbia, Canada
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Can someone please load the T&C? I have activated the 5.50% offer, but now that I've done so, it doesn't let me click through to see the conditions. Usually Simplii doesn't pay interest out until about 15 days after the end of promo (no compounding). Is that the case this time as well?

April 11, 2024
6:09 pm
mordko
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Both me and my wife got this one.

I already accepted Tangerine’s.

Seems to be a deluge of offers over the last year coming from every direction. QT is clearly working but still interesting. Supposedly very few new mortgages are being generated.

April 11, 2024
6:23 pm
Doogles911
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I'm deciding what to do with the offer. I also want to have access to the money to buy a house in the next 6 months. My mortgage broker saying to not move my money around because they want a 90 day history of the money and moving it makes it difficult. Most of my cash is already in Simplii, because of a previous offer, so the money is not eligible.

If I click accept I will likely not get another offer from Simplii until it expires. If I click decline I block the offer entirely. Does declining the offer open me up to eligible offers in the future?

April 11, 2024
8:05 pm
LK
British Columbia, Canada
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LK said
Can someone please load the T&C? I have activated the 5.50% offer, but now that I've done so, it doesn't let me click through to see the conditions. Usually Simplii doesn't pay interest out until about 15 days after the end of promo (no compounding). Is that the case this time as well?  

Found the T&C: https://www.simplii.com/content/dam/simplii-public-assets/documents/pdf/promotional-savings-rate-offer-hisa-bb2.pdf

April 11, 2024
11:56 pm
norris2
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I got the 5.5% offer

April 12, 2024
12:00 am
norris2
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Doogles911 said
If I click accept I will likely not get another offer from Simplii until it expires. If I click decline I block the offer entirely. Does declining the offer open me up to eligible offers in the future?  

I've seen various comments for Tangerine and Simplii about "not accepting the offer", but has anyone actually received a new offer in this scenario? One of the automated online offers that is, not calling into the support line and begging an agent.

April 12, 2024
5:36 am
Bill
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Looks like a change from their historical, T&C say "Regular Interest and Promotional Interest are paid monthly".

April 12, 2024
6:23 am
hwyc
GTA
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If you checked but didn't see an offer, that can be a false negative! My wife's offer comes on the 2nd sign-on session sf-confused

... hope these kind of short-term promo(s) will put some strain of GIC rates on the market. Currently, I hesitate to lock in for a rate lower then 5.50% ... still 94 days to July 15th

April 12, 2024
12:32 pm
mustang
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Both spouse and myself received 5.50% offer
(Visible on website once logged in-- no email)
We both had our last offer expired on March 31

April 12, 2024
1:35 pm
Bill
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When I signed in there was nothing under My Offers but after clicking on a couple of other things it showed that there was a new message under My Offers, went into it and there it was.

Spouse a little different, also not there on sign in but after clicking on a couple of things a pop-up came on to show the offer and then it also showed up under her My Offers.

I received confirming email, spouse did not (yet).

April 12, 2024
2:56 pm
mustang
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I think credit to Simplii for keeping life interesting!
Spouse got confirming email-- I did not
To the best of my knowledge, there is no way of confirming the interest rate currently attached to the account
I guess it would be boring if everyone got treated the same?

April 12, 2024
9:59 pm
Norman1
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About a day after I accepted the 5½% offer, this banner ad shows in my online banking Account Summary, including a working link to the terms and conditions:

 
Deposit now! Earn 5.5% on eligible deposits until July
15, 2024. Terms apply.
 

Legal →

The link is same as the one that LK posted earlier.

The offer I received is for up to $1 million of new money in existing HISA accounts:

… For clarity, any new HISAs opened during the Offer Period by invited clients are ineligible for this Offer.

The Offer

The special annual interest rate of 5.50% is a combination of the regular annual interest rate set by Simplii Financial earned on your Eligible HISA’s daily closing balance (“Regular Interest”), plus a promotional annual interest rate (“Promotional Interest”) that is earned on your Eligible HISA’s Additional Balance (defined below) from the date of enrolment until the end of the Offer Period. Any change to the Regular Interest will result in a corresponding change to the Promotional Interest so that the overall special annual interest rate will remain 5.50% from the date of enrolment until the end of the Offer Period.

Interest on each Eligible HISA is calculated as follows:

  • Regular Interest is calculated daily at the current rate applicable to the Eligible HISA balance on each day’s full closing balance;
  • Promotional Interest is calculated daily on each day's closing balance that exceeds the closing balance as at April 9, 2024 (the “Additional Balance”) beginning on the enrolment date until the end of the Offer Period;
  • The maximum Additional Balance that is eligible for Promotional Interest is $1,000,000 per Eligible HISA.

Regular Interest and Promotional Interest are paid monthly. For clarity, Promotional Interest will be paid within the first two business days following the month in which it was calculated. Promotional Interest will only be paid if the enrolled Eligible HISA is active and in good standing at the time of payment.

April 12, 2024
10:39 pm
RetirEd
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hwyc:

... hope these kind of short-term promo(s) will put some strain of GIC rates on the market. Currently, I hesitate to lock in for a rate lower then 5.50% ... still 94 days to July 15th

To me, it seems that all these short-term offers are an extension of the inverted yield curve. Money in the promotions, the financial institutions hope, will then come up for renewal at lower rates later in the year.

RetirEd

April 15, 2024
11:14 am
Kasper665
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Applied for a new HISA today and they are offering 6% for 5 months.

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