Simplii 3% High Interest Savings Account Promotion Aug 2022

Simplii Financial’s promotional interest rate is one of the best savings account rates in Canada right now.

You earn a 3.00% interest rate on every dollar you deposit in your account for a limited time.

Considering that savings interest rates are still as low as 0.10% at some banks, this offer means you can earn up to 300x more on your deposits.

Read on to learn about the current Simplii savings account promotion, how to sign up for a new account, and how to qualify for a cash bonus when you open a free chequing account.

Simplii Promotional Interest 2022: Earn 3% Interest

If you are looking to deposit your money in a savings account that offers a high interest rate, the Simplii saving account is currently a good choice.

It is offering a 3.00% interest rate on all deposits from June 1 to October 31, 2022, when you sign up here.

There is no minimum balance requirement for taking advantage of this promotional rate. Simply open an account and deposit funds. Also, this savings account has no fees.

Simplii Financial High Interest Savings Account

Simplii Financial offers a high interest rate savings account (HISA) that normally pays 0.40% interest (recently increased to 3%).

This no-fee account can be paired with a free Simplii chequing account so you have access to unlimited transactions, mobile cheque deposits, free personalized cheques, and free access to all CIBC ATMs in Canada.

Interest on your Simplii savings is calculated daily and paid into your account every month.

The Simplii savings account is eligible for deposit insurance via the Canada Deposit Insurance Corporation (CDIC) for up to $100,000.

In addition to its general HISA, Simplii also offers these savings accounts:

  • Simplii tax-free savings account
  • Simplii RRSP savings account
  • Simplii USD savings account

Learn more in this Simplii review.

How To Open a Simplii Financial Savings Account

You can open a Simplii Savings account by visiting the bank’s website.

You must be a resident of Canada and at least the age of the majority in your province (i.e. 18/19 years or older).

When completing the online application, you will need to provide your Social Insurance Number and a digital signature.

Newcomers to Canada and international students can also open an account.

Visit Simplii Financial
Simplii High Interest Savings Account Promotion

Other Simplii Promotions

In addition to Simplii’s special interest rate offer, new customers can also take advantage of these promotions.

$350 New Chequing Account Offer

You can get a $350 cash bonus when you open a new Simplii Chequing account and:

  • Add a direct deposit of at least $100 each month for 3 consecutive months. Eligible direct deposits include payroll, pension payments, and EI deposits.

$300 Global Money Transfer Offer

When you send money abroad using the Simplii Financial Global Money Transfer (GMT) service for the first time, you get a cash bonus based on the amount of your transfer:

  • Under $5,000: $50 bonus
  • $5,000 to $14,999.99: $100
  • $15,000 to $24,999.99: $175
  • $25,000 and over: $300

You can send funds internationally to over 130 countries using your Simplii no-fee chequing account, USD savings account, credit card, or line of credit.

Learn more about how to get the special offer on the Simplii GMT here.

Simplii Savings Account Promotion FAQs

How much interest is Simplii high interest savings paying?

The current promotional rate for the Simplii savings account is 3%. This offer is available until October 31, 2022.

What Canadian bank pays the highest interest?

Simplii’s promotional interest rate is one of the highest in Canada at 3%. You can also take advantage of the non-promotional rate of 1.65% offered by EQ Bank.

Who owns Simplii Financial?

Simplii Financial is a division of the Canadian Imperial Bank of Commerce (CIBC).

Can I have more than one Simplii account?

Yes, you can open multiple Simplii accounts including savings, chequing, mortgage, and investment accounts.

Is Simplii a good bank?

Yes. Simplii is one of the best banks in Canada. It was established in 2017 and has almost 2 million customers.

Best Promotions this month

Get the best FREE chequing account offer in Canada with *$350 cash bonus*

$350 cash bonus when you add a $100 direct deposit for 3 months.

Unlimited free debits and Interac e-Transfer transactions.

No monthly account or transaction fees.

Earn a 3.00% high-interest rate on your savings.

No monthly or minimum balance is required.

Best no-fee cash back credit card with a $150 welcome bonus

$150 sign-up bonus on first $1,000 spending within 2 months.

Get unlimited 2% cashback in three categories of spending.

Low $12,000 income requirement and 600+ credit score.

0.50% unlimited cashback on all other purchases and no annual fee.

Get $20 welcome bonus with free KOHO app & up to 10% cash back

Free reloadable prepaid Mastercard (use CASHBACK referral code).

Earn 0.50% cash back on all purchases and up to 10% at select partners.

Save automatically and earn 1.20% interest on your balance.

Access to a free budgeting app.

Get a cash bonus and FREE stock trading in Canada ($25 bonus)

Top commission-free stock and ETF trading platform in Canada.

$25 cash bonus when you fund your account with $150.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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  • Earn up to 225x more than other banks!
  • Get 2.25% interest rate* on every dollar.
  • No monthly fees and unlimited free transactions.
Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
  • Earn up to 225x more than other banks!
  • Get 2.25% interest rate* on every dollar.
  • No monthly fees & unlimited transactions.
Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
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