As of October 3, 2026. Rates and terms below are from Simplii’s own pages (Simplii’s HISA page and Simplii’s bonus offer page).
The verdict: Simplii will pay you 4.60% on new savings for about 5 months — but only if you open the account by October 31. That works out to roughly $193 on a $10,000 deposit over the promo period. Worth grabbing if you’re a new client with cash sitting idle. Just don’t confuse this with a good ongoing account: when the promo ends, the rate drops off a cliff.
Who this is for: New Simplii clients (or clients within their first 60 days) with $10,000+ parked somewhere earning nothing, and who are organized enough to move the money out again in about five months.
Your move: Open by October 31, set a calendar reminder for when the promo rate expires, and move the money somewhere better on day one — Simplii’s post-promo rate isn’t worth keeping it there.
The dollar math: what 4.60% actually pays
The offer is 4.60% annual interest on eligible deposits up to $200,000, for about five months (Simplii’s HISA page). The math below assumes the promo runs the full ~153 days — Simplii’s public pages state “5 months” only, so the exact day count could not be confirmed on a Simplii source today.
| Deposit | Interest at 4.60% promo rate | Interest at Simplii’s regular rate after the promo* |
|---|---|---|
| $10,000 | $192.82 | $12.58 |
| $50,000 | $964.11 | $62.88 |
| $200,000 (cap) | $3,856.44 | $503.01 |
*Simplii’s published regular rates are tiered: 0.30% on balances up to $50,000, 0.50% on $50,000.01–$100,000, 0.60% on $100,000.01–$500,000, 0.70% on $500,000.01–$1,000,000, and 1.00% above $1,000,000 (Simplii’s bonus offer page). So $10,000 and $50,000 earn 0.30% after the promo; $200,000 earns 0.60%. All figures assume ~153 days of promo, simple interest.
That’s the whole pitch: roughly $180 more than the account’s own post-promo rate would pay on $10,000, or $901 more on $50,000. The rate isn’t remarkable by itself — what makes it worth doing is that there’s no minimum balance and no monthly fees (Simplii’s HISA page), so it costs you nothing to participate.
Interest is calculated daily on the closing balance and paid monthly (Simplii’s HISA page).
The honest part: what happens after month five
This is the bit most rate alerts gloss over. When the promo ends, your balance doesn’t stay at 4.60% — it falls to Simplii’s ordinary tiered savings rate. Per Simplii’s bonus-offer page: 0.30% on balances up to $50,000, 0.50% on $50,000.01–$100,000, 0.60% on $100,000.01–$500,000, 0.70% on $500,000.01–$1,000,000, and 1.00% above $1,000,000 (Simplii’s bonus offer page). Simplii’s page states “rates are subject to change without notice” (Simplii’s HISA page).
So treat this exactly like a five-month parking spot, not a new home for your money. On the day the promo expires, $50,000 earning 0.30% instead of 4.60% costs you about $5.89 a day in forgone interest (annual difference of $2,150 ÷ 365). Every day it sits there past expiry is a day you’re subsidizing the bank.
The fine print that actually matters
- Deadline: October 31, 2026. That’s 28 days from today (October 3) (Simplii’s HISA page). “Last call” is legitimate; there’s no need to pretend otherwise.
- Eligibility: New clients get the rate. Already a Simplii client? You can still get this offer if you’re within your first 60 days (Simplii’s HISA page). Terms apply (Simplii’s HISA page).
- The $200,000 cap: The promo rate applies to eligible deposits up to $200,000 (Simplii’s HISA page). Anything above that earns the regular rate.
- CDIC aggregation gotcha: Simplii is a trade name of CIBC — deposits made with Simplii are aggregated with your CIBC deposits for CDIC insurance purposes (Simplii’s HISA page). If you already hold deposits at CIBC and are parking anywhere near the $200,000 cap, check your combined CDIC-insured amount before moving money.
- Referral kicker: If someone you know refers you, they earn $125 and you’ll get $50 on an eligible new account (Simplii’s HISA page). Worth asking a friend with a Simplii account before you apply.
Where your money should go on day one after expiry
Plainly: not Simplii’s regular account. When the promo rate drops off, move the money to whatever the best standing-rate HISA or short-term GIC is at that point — don’t leave it earning a fraction of a percent out of inertia. Check our bank bonus tracker for the current best standing offers and active bonuses when the time comes.
Bottom line
4.60% for five months with no fees and no minimum is a clean, honest bonus on cash you already have sitting idle — $193 on $10k, $964 on $50k. Grab it by October 31 if you’re eligible, then set the exit reminder the same day you open the account. The only way this offer goes wrong is staying past the expiry date.