SImplii Financial - 3.0% Interest on New Deposits until February 28, 2018 | Page 12 | Simplii Financial | Discussion forum

A suggestion for those who did not receive a retention promo rate offer beyond Feb 28, 2018 and are planning to move funds out of Simplii. In the unlikely event that Simplii will have a new promo rate for NEW deposits starting March 1st, in excess of balances at Feb 28th, it might be prudent to transfer existing funds out early enough so that the the account balance at Feb 28th will be nil or negligible. Keep in mind that on Simplii's website, transfers out are only posted the day after they are initiated.

The interest now I guess is 1.1 %.

But where do you see this rate when you log into your account ? When I log into my Simplii HISA, I can't see anywhere what interest I am getting for the HISA

Tangerine when you log in you can clearly see the rate you are getting for your HISA.

But Simplii I can't see it anywhere ?? Is there a specific tab or button or icon that I have to click to find out my HISA rate I am earning ?

Joebart said
Its March first. I would expect interest bonus to be paid but I do not see it. Looking back into condition I can see it will be paid (if it will) in March 2018 without any specific date. So end of the March? Anyone have seen any bonus so far?  

You typically wont see it until middle of March.

tcharger67 said
Typically around the 20th. Before the extension my last payout was the 19th. I spoke to someone on the phone during that time and was told they break it up between the later half of the month, to better even out withdrawals  

So do I understand this correctly? The promo is until Feb 28, but you don't get the interest paid until mid-March? Is it earning interest until then or is it in limbo until deposited?

tcharger67 said
it gains no interest at any point. I know that for a fact, as I asked a simplii rep that exact question. until the interest is deposited to the account over the months it is earned, and after the promo period has expired, it will not gain interest.

And yes, I feel your pain, as it bothers me as well. I wish they were like tangerine or duca and made the deposits directly after each month  

How very strange. Bad enough it doesn't pay it out monthly. Has anybody gone to the trouble of figuring out the actual interest rate factoring in that the bonus gains no interest and pays out weeks after the promo ends? It's like a two week interest free loan from all the depositors' promo cash. Wonder how many millions that is. The more I read about these people, the gladder I am I abandoned my application. Credit score took a hit, but worth it to me.

Hi Folks,

Can one assume funds can be pulled from Simplii today (as the promo period has expired) without affecting any interest to be paid later in March?

Thank you.

Parsimonious said
Hi Folks,

Can one assume funds can be pulled from Simplii today (as the promo period has expired) without affecting any interest to be paid later in March?

Thank you.  

Yes you can.

I pulled into Tangerine on March 1 from the Tangerine side. The money is already deposited in Tangerine as of March 1 & earning interest. ( Not just under Pending, but under Posted & Deposited transaction )

But yet to leave Simplii, I am assuming it will go out on March 2. So right now the money is showing in both places.

So basically for 1 day - I will be double dipping & earning interest in both places

Of course some of the money is on hold in Tangerine & some has been released by Tangerine, but the hold money is also earning interest.

Expect the Simplii bonus interest to come in one lump sum by March 15.

Strange. After you mentioned it, I pulled my account score. Mine increased 7 points in 2017. Simplii is listed only as a soft touch, and soft touches are to my understanding now changed. I had read you can Infinitely create soft touches with no damage now under new legislation.

Please correct me if I am wrong.

Either way. With cus like duca rolling out 3.15. it'll take a lot to win my money back into Simplii.
I feel as though they will be a games fi like tangerine

Last couple of promotional bonus interest for PC Financial were posted on:

Nov 9 - 2017

Sep 14 - 2017

Simplii Financial should not be any different. Should be any day in the second week of March.

BTW does anyone have any idea when ( which date ) they made the 1 % regular interest to 1.1 % ?

Will help me calculate the Bonus interest to be paid out better - Some of it will be 1.9 % ( 1.1 % + 1.9 % ) and other 2 % ( 1 % + 3 % )

DUCA Financial 3.15 % promo rate till May 31 - 2018 is the best rate right now.

Its DICO insured so even better than CDIC as DICO insures upto $ 250,000.

https://www.duca.com/mymoney/banking/savings-accounts/earn-more-incredible-savings/

Now that Simplii 3 % is over, might as well go with DUCA. They have excellent service and personal service, with physical branches too in case you need something. Or you can do everything Online also.