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Email this11:27 am
April 6, 2013
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anitavirginia said
Looks like the rates have changed, some up and some down. I wonder why they did that. Anyway it looks like the 5% is now 4.25%.
I wonder what date that changed?If your account balance is:
Annual rate
$0.00 to $50,000.00
0.35%
…
Norman1 said
Only a few possibilities:
- Friday, Sept. 6
- Saturday, Sept. 7
- Sunday, Sept. 8
- Monday, Sept. 9
One would be able to figure out near the end of this month when the regular interest is paid. The 0.05% rate difference would result in a 2¢ per day difference in interest for each $14,600 of balance.
Simplii has posted their HISA interest on Wednesday, September 25. The amount paid implies that the rate was changed September 9.
| If your account balance is: | Annual rate 2024/09/05 |
Annual rate 2024/09/09 |
| $0.00 to $50,000.00 | 0.40% | 0.35% |
| $50,000.01 to $100,000.00 | 0.40% | 0.50% |
| $100,000.01 to $500,000.00 | 0.65% | 0.80% |
| $500,000.01 to $1,000,000.00 | 1.25% | 1.80% |
| $1,000,000.01 and up | 5.00% | 4.25% |
3:26 pm
December 7, 2023
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Norman1 said
anitavirginia said
Looks like the rates have changed, some up and some down. I wonder why they did that. Anyway it looks like the 5% is now 4.25%.
I wonder what date that changed?If your account balance is:
Annual rate
$0.00 to $50,000.00
0.35%
…Norman1 said
Only a few possibilities:
- Friday, Sept. 6
- Saturday, Sept. 7
- Sunday, Sept. 8
- Monday, Sept. 9
One would be able to figure out near the end of this month when the regular interest is paid. The 0.05% rate difference would result in a 2¢ per day difference in interest for each $14,600 of balance.
Simplii has posted their HISA interest on Wednesday, September 25. The amount paid implies that the rate was changed September 9.
If your account balance is: Annual rate
2024/03/12Annual rate
2024/06/25Annual rate
2024/09/05Annual rate
2024/09/09$0.00 to $50,000.00 0.40% 0.40% 0.40% 0.35% $50,000.01 to $100,000.00 0.40% 0.40% 0.40% 0.50% $100,000.01 to $500,000.00 0.65% 0.65% 0.65% 0.80% $500,000.01 to $1,000,000.00 1.25% 1.25% 1.25% 1.80% $1,000,000.01 and up 5.50% 5.25% 5.00% 4.25%
4:33 pm
May 20, 2016
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Does the HISA rate change affect the 5.5% promotion rate?
5:15 pm
April 6, 2013
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Changes in the Simplii HISA's regular rate do not affect the special 5½% rate:
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.
…
6:19 am
December 20, 2019
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When simplii dropped from 5.75% to 5% they caught my attention. It was still an awesome rate and I had 5.75% for almost a year so I forgave it and stayed because the funds did not have to be tied up.
That said at 4.25% it made no sense and I moved to Saven at 5% for 6 months.
Was going to move to Hubert for a year at 4.5% with their quarterly but the lack of ANY tools in the new Access interface completely turned me off.
So I will review my experience with SAVEN in 6 months but so far I am impressed with the interface, you can do anything electronically the way it used to be at Hubert. I linked around 8 bank accounts and could not see a limit as to how many you can link.
PS. Linking is as smooth as at Motus which has one of the best account linking interfaces I have seen.
2:11 pm
March 3, 2022
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KamWest said
I linked around 8 bank accounts and could not see a limit as to how many you can link.PS. Linking is as smooth as at Motus which has one of the best account linking interfaces I have seen.
Is the linking process Flinks type (ie, you give your linked-bank's username & password to a third party) or manual micro deposits? Thanks.
8:04 am
December 20, 2019
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iotama said
Is the linking process Flinks type (ie, you give your linked-bank's username & password to a third party) or manual micro deposits? Thanks.
Yes its the Flinks type, I usually change my banking password after I link the account. I use strong passwords and a password app so that is no big deal. It's not required but I like to do that step.
Flinks requires 5 working days to process things so be prepared for a wait of 5 days to set any push or pulls.
5:49 pm
September 29, 2017
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Actually Simplii does not require you to use Flinks. Mine were linked by filling forms, submitting them electronically via secured email to directly to a Simplii manager, and they handled the links via their backend office, as standard procedure.
8:14 pm
December 20, 2019
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Was talking about linking from Saven to Simplii.
Simplii does not like linking from their end, they still require old school send in a cheque.
10:25 am
April 6, 2013
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usephrase said
If your account balance is: Annual rate
2024/03/12Annual rate
2024/06/25Annual rate
2024/09/05Annual rate
2024/09/09$0.00 to $50,000.00 0.40% 0.40% 0.40% 0.35% $50,000.01 to $100,000.00 0.40% 0.40% 0.40% 0.50% $100,000.01 to $500,000.00 0.65% 0.65% 0.65% 0.80% $500,000.01 to $1,000,000.00 1.25% 1.25% 1.25% 1.80% $1,000,000.01 and up 5.50% 5.25% 5.00% 4.25%
Simplii has changed the rate for some tiers of their HISA. Must have happened sometime October 24 to today, November 1:
| If your account balance is: | Annual rate |
| $0.00 to $50,000.00 | 0.35% |
| $50,000.01 to $100,000.00 | 0.75% |
| $100,000.01 to $500,000.00 | 0.80% |
| $500,000.01 to $1,000,000.00 | 1.45% |
| $1,000,000.01 and up | 3.75% |
10:36 am
December 7, 2023
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The analysts in several financial institutions said: Bank of Canada are expected to cut additional 0.5% on Dec 11, 2024.
10:45 am
December 20, 2019
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Norman1 said
Simplii has changed the rate for some tiers of their HISA. Must have happened sometime October 24 to today, November 1:
Yes they dropped from...
5.75 to 5.5
5.5 to 5.0
5.0 to 4.25
4.25 to 3.75
I left for the SAVEN 5% when Simplii went to 4.75%
I had a ton of money there and got a call from them asking why I was moving out. It was disguised as a FOR YOUR PROTECTION call but I knew they also wanted to know why I was moving out.
I'm actually extremely happy with SAVEN, I don't have to go hunting for rates, I automatically get one of the best rates all the time.
The regular SAVEN savings rate right now is 3.4% and almost as good as the 3.75 simplii has and you don't have to keep a million in the account. I expect the Simplii drop to accelerate and the normal savings rate at saven to eventually beat out the top tier rate at simplii, that is why I am staying put.
10:49 am
December 20, 2019
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usephrase said
The analysts in several financial institutions said: Bank of Canada are expected to cut additional 0.5% on Dec 11, 2024.
By the time my 5% expires at SAVEN I fully expect the top rates to be at around 2.75%. The december cut will bring the Simplii rate to 3.25% and early next year down to 2.75%
3% will be considered a deal of deals at that time.
11:04 am
October 27, 2013
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I don't think HISA rate declines will necessarily match BoC rates down by the same amounts since FIs use liquid deposits for various purposes, including LOCs. Back when BoC was at 0.25%, digital bank/CU HISA rates didn't drop to similar levels.
However, they do not need to be significantly out of step with competing rates and alternatives. Some FIs on the HISA chart appear to be out-of-step on a regular basis. One wonders about their loan book and/or their risk management processes.
11:07 am
December 7, 2023
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KamWest said
By the time my 5% expires at SAVEN I fully expect the top rates to be at around 2.75%. The december cut will bring the Simplii rate to 3.25% and early next year down to 2.75%
3% will be considered a deal of deals at that time.
I purchased/will purchase " Cashable GIC " or " Flexible GIC" at annual 3% , this kind of GIC is redeemable anytime.
9:13 am
April 6, 2013
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Cashable GIC's that can be cashed early without penalty are an alternative. RBC Royal Bank has some that are like that.
The fixed-rate RBC One-Year Cashable GIC is one. No penalty when fully or partially cashed after day #29:
One-Year Cashable GIC
Posted Rate 2.25%
Your Bonus 1.00%
Your Rate 3.25%
The variable-rate RBC One-Year Prime-Linked Cashable GIC is another:
| Term | $5,000 to $49,999.99 |
$50,000 to $99,999.99 |
$100,000 to $249,999.99 |
$250,000 to $999,999.99 |
$1,000,000 and over |
| 1 year | 3.50% (P - 2.45%) |
3.70% (P - 2.25%) |
3.95% (P - 2.00%) |
||
9:38 pm
December 7, 2023
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Norman1 said
Cashable GIC's that can be cashed early without penalty are an alternative. RBC Royal Bank has some that are like that.The fixed-rate RBC One-Year Cashable GIC is one. No penalty when fully or partially cashed after day #29:
One-Year Cashable GIC
Posted Rate 2.25%
Your Bonus 1.00%
Your Rate 3.25%The variable-rate RBC One-Year Prime-Linked Cashable GIC is another:
Term $5,000 to
$49,999.99$50,000 to
$99,999.99$100,000 to
$249,999.99$250,000 to
$999,999.99$1,000,000 and
over1 year 3.50%
(P - 2.45%)3.70%
(P - 2.25%)3.95%
(P - 2.00%)
RBC One-Year Cashable GIC, RBC web shows: It guarantees your principal while offering a variable interest rate that is linked to changes in the RBC Royal Bank Prime rate.
I think this GIC rate will be going down if Bank of Canada cuts the rate.
9:44 pm
April 6, 2013
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The RBC One-Year Cashable GIC is a fixed rate GIC.
The RBC One-Year Prime-Linked Cashable GIC is the variable rate GIC.
9:58 pm
December 7, 2023
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Norman1 said
The RBC One-Year Cashable GIC is a fixed rate GIC.The RBC One-Year Prime-Linked Cashable GIC is the variable rate GIC.
You are right, where is the link for The RBC One-Year Cashable GIC is a fixed rate GIC, Posted Rate 2.25%, Your Bonus 1.00%, Your Rate 3.25%
I see the rate is 2.75% for RBC Banking account.
https://www.rbcroyalbank.com/investments/gic-rates.html#nonredeemable-gic
I found 3% Cashable GIC in TD Direct Investing, or CIBC Edge.
11:59 pm
April 6, 2013
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That 3.25% rate for the RBC One-Year Cashable GIC is not publicly displayed.
I see that rate offered when I log into RBC Online Banking and navigate into my GIC account. See my previous post.
Please write your comments in the forum.