Simplii new account offers

Earn more with a Simplii Financial new account offer or referral bonus when you switch now.

Simplii Financial

Simplii Financial offers some of the highest bonus interest rates and cash bonus offers on the market when you sign up for a new account. We’ve gathered together the Simplii new account offers and promotions available now — including how the Simplii referral bonus works — to help you compare options and earn more.

All Simplii new account offers and promotions on now

We’ve compiled the latest Simplii offers available now so you can easily browse through the current Simplii promotions and compare deals.

Simplii No Fee Chequing Account

Earn $300 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends April 30, 2025.

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Simplii High Interest Savings Account

Earn 3.90% interest for 5 months on up to $1,000,000 in savings. Apply by March 31, 2025.

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Simplii Financial Student No Fee Chequing Account

Earn $300 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends April 30, 2025.

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How to get the $300 bonus from Simplii Financial?

After signing up for a new Simplii Financial account, you'll be able to qualify for a welcome bonus of up to $300 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends April 30, 2025.

You’ll receive the cash bonus as a deposit in your new No Fee Chequing Account within 3 business days of completing the offer qualifying actions.

Qualifying direct deposits include payroll, pension, Employment Insurance and Provincial Parental Insurance.

Keep in mind that Interac e-transfers and transfers between accounts do not qualify for the Simplii new account offer.

What types of direct deposits qualify for the new account offer?

Simplii Financial doesn’t accept just any direct deposit as part of its new account offer. The following direct deposits are the only types of deposits that you can use to qualify for the Simplii cash bonus offer.

Payroll:

  • Payroll deposit
  • Special payroll
  • Vacation payroll
  • Overtime payroll
  • Advance payroll
  • Commission payroll
  • Bonus payroll
  • Adjustment payroll

Insurance:

  • Employment Insurance
  • Provincial Parental Insurance

Pension:

  • Federal pension
  • Provincial pension
  • Private pension
  • Canada Pension Plan
  • Canada Pension Commission

Government benefit or social assistance:

  • Canada Emergency Response Benefit
  • Canada Emergency Student Benefit
  • Canada Recovery Benefit
  • Ontario Disability Support Program (ODSP)

Do EFT deposits qualify for the Simplii new account offer?

No, Simplii does not categorize EFT deposits as direct deposits for the new account offer. That includes payroll deposits from your employer listed as EFTs (e.g. “EFT Deposit [company name]”).

So if you’re planning to use your paycheque as your qualifying direct deposit, double check that it isn’t actually an EFT. Otherwise you may think you’re going to receive the cash bonus offer, only to find out later that you haven’t completed the qualifications for it.

What is the Simplii referral bonus?

Simplii Financial offers a very competitive referral program. It offers a $125 cash bonus when you refer a friend who signs up for a Simplii account, credit card or loan. Your friend will also get a $50 bonus for signing up.

If your referred friend sends an international money transfer through Simplii’s Global Money Transfer service, both you and your friend will earn a $50 cash bonus.

How to qualify for the Simplii referral bonus

To refer a friend and qualify for Simplii’s referral bonus you have to meet the following conditions:

How to get the Simplii referral bonus

You’ll need to first get your unique Simplii referral info by signing into your mobile or online banking profile and selecting “Refer a friend.” You’ll then be given a unique link and referral code, which you can share with your friends.

Once your friends sign up using your link or code, and after completing a few setup actions, you’ll be given a $125 cash bonus and your friend will receive $50.

Are there any conditions for getting the Simplii referral bonus?

Yes, your friend will have to do more after signing up for an account before you can both receive the referral bonus.

If your friend uses your referral bonus to sign up for a Simplii chequing or savings account, they will have to deposit at least $100 within 6 months of opening the account and maintain a balance of at least $100 for a minimum of 30 days.

If your friend opens a credit card, they will have to spend at least $100 on the card within the first 6 months. Alternatively, if your friend opens a line of credit, they will have to borrow at least $100 from the account within 6 months,

Is it worth switching to Simplii for a new account offer or promotion?

Yes, it’s definitely worth considering switching to Simplii for one of its promotional offers because it typically offers some of the highest new account offers on the market for both its chequing and savings accounts.

As a bank, Simplii Financial is a division of the Canadian Imperial Bank of Commerce and is CDIC insured. It was founded in 2017, and has since grown to offer bank accounts, investment options, lines of credit, loans and mortgages.

Simplii promotions vs. other Canadian bank offers on now

Although Simplii offers some of the best promotions in Canada, other banks and credit unions are offering competitive promotions right now. Here are some other options you can use to compare with Simplii new account offers:

Scotiabank Preferred Package

Earn up to $800 with a Scotiabank Preferred package and an investment plan. Valid until March 3, 2025. Plus, earn up to 5.05% interest for 3 months on your MomentumPLUS Savings Account.

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Scotiabank Ultimate Package

Earn up to $800 with a Scotiabank Ultimate package and an investment plan. Plus, earn up to 5.10% interest for 3 months on your MomentumPLUS Savings Account. Valid until March 3, 2025.

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Scotiabank MomentumPLUS Savings Account

Earn up to 5.10% for 3 months on your first account opened.

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Coast Capital Free Chequing, Free Debit, and More Account

New members can get $150 when they open and use a Free Chequing, Free Debit and More Account. Conditions apply. Valid until March 31, 2025.

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Coast Capital Elevate Chequing Account

New members can get $400 when they open and use an Elevate Chequing Account. Conditions apply. Valid until March 31, 2025.

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Coast Capital Unlimited Chequing Account

New members can get $250 when they open and use an Unlimited Chequing Account. Conditions apply. Valid until March 31, 2025.

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EQ Bank Personal Account

Earn 4.00% interest on your money for 12 months and 1.50% thereafter.

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BMO Performance Chequing Account

Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Performance Chequing Account, $200 (plus a 5.00% promo interest rate) when you open a Savings Amplifier Account and $50 when you make it a BMO Family Bundle. Valid until March 3, 2025.

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BMO Premium Plan Chequing Account

Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Premium Plan Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until March 3, 2025. Also earn a 5.00% bonus interest rate when you add a Savings Amplifier Account.

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RBC Signature No Limit Banking Account

Get an Apple Watch when you open your first RBC Signature No Limit Banking Account and complete two of the ”Qualifying Criteria”. Apply by June 2, 2025.

RBC VIP Banking Account

Get an Apple Watch when you open your first RBC VIP Banking Account and complete two of the ”Qualifying Criteria”. Apply by June 2, 2025.

CIBC Smart Account

Get a $600 cash offer when you open a CIBC Smart Account as your first chequing account, then open your first CIBC eAdvantage Savings Account in the same calendar month and complete the qualifying actions within 2 months.

TD Unlimited Chequing Account

Earn a welcome bonus worth $500 ($400 when you open this account and complete qualifying tasks plus $100 when you open a new eligible savings account and complete qualifying tasks. Terms and conditions apply). Offer ends February 25, 2025.

Tangerine No-Fee Daily Chequing Account

Earn up to $250. Open a No-Fee Daily Chequing Account and switch your payroll deposits to your new Tangerine Chequing Account for 2 consecutive months to receive $250.

Tangerine Savings Account

Earn 5.40% interest for 5 months (on the first $1,000,000 in deposits) when you sign up by March 31, 2025.

Frequently asked questions about Simplii new account offers

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Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature. See full bio

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