Does the Simplii High Interest Savings Account have a promo offer?<\/h3>
Yes, it does! New customers can get a promo interest rate of 4.6% for the first 5 months after opening an account.<\/strong> That\u2019s a very good rate when you stack it up against what Simplii\u2019s competitors are offering at the moment, which makes this account well worth a look.<\/p> But it\u2019s also worth mentioning that this great rate doesn\u2019t apply forever. Once your 5 months are up, the account drops down to a much lower standard interest rate.<\/p> Go to site<\/a><\/p> If you\u2019re a new customer, you can get a very competitive Simplii High Interest Savings Account rate of 4.6% for the first 5 months. At the time of writing, that\u2019s the best savings account interest rate in Canada.<\/p> You don\u2019t have to worry about a monthly fee or transaction fees eating away at your account balance. There\u2019s also no need to keep your balance above a minimum level\u2014you earn interest on every dollar in your account.<\/p> Simplii Financial offers user-friendly online and mobile banking platforms, so you can manage your money whenever and wherever it\u2019s convenient for you. You can also set up automatic deposits from your chequing account to help grow your balance faster.<\/p> Sign up for a Simplii High Interest Savings Account in less than 5 minutes by completing an application online or on your smartphone.<\/p> Once the 5-month promo period ends, the account reverts to a much lower standard interest rate. This rate is as low as 0.3% if you have a balance of $50,000.01 or less.<\/p> The 4.6% promo interest rate offer is only available for new Simplii customers. So, if you\u2019re already a customer, you\u2019ll need to settle for the much lower standard interest rate.<\/p> You won\u2019t be able to withdraw money from your Simplii High Interest Savings Account from an ATM using your debit card. You also can\u2019t send an e-Transfer from your account when you want to send money to family or friends.<\/p> Simplii is a digital bank and does not have any brick-and-mortar branches. So, if you like the option of being able to visit a branch for face-to-face customer service, this isn\u2019t the account for you.<\/p> Simplii Financial\u2019s products are not available in Quebec, so Quebecois will need to look elsewhere when searching for a savings account.Simplii High Interest Savings Account fees and access<\/h3>
Type of fee<\/th> Fee details<\/th><\/tr><\/thead> Account opening fee<\/td> $0<\/td><\/tr> Monthly fee<\/td> $0<\/td><\/tr> Withdrawal fee<\/td> $0<\/td><\/tr> ATM withdrawals<\/td> Not available<\/td><\/tr> Inactivity fee (no activity for at least 2 years)<\/td> $20<\/td><\/tr><\/tbody><\/table> What we like about the Simplii High Interest Savings Account<\/h3>
Earn up to 4.6% interest<\/h4><\/li><\/ul>
No monthly fee or minimum balance requirement<\/h4><\/li><\/ul>
Easy online and mobile access<\/h4><\/li><\/ul>
Quick online registration<\/h4><\/li><\/ul>
Referral bonus<\/h4><\/li><\/ul>Earn $125 when you refer a friend to Simplii and they set up an account (they'll earn $50, provided you both meet certain eligibility criteria).
What are the downsides?<\/h3>
Low standard rate\u2014as little as 0.3%<\/h4><\/li><\/ul>
High promo rate is only for new customers<\/h4><\/li><\/ul>
No ATM withdrawals or e-Transfers<\/h4><\/li><\/ul>
No physical branches<\/h4><\/li><\/ul>
Not available in Quebec<\/h4><\/li><\/ul>