Savings account · Simplii Financial
Simplii Financial High Interest Savings Account: fees and true cost
Simplii Financial’s High Interest Savings Account lists 0.3%–1% (tiered) interest and no monthly fee. On $10,000 that’s about $30 a year before tax, at the posted rate.
CDICOffered in AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, SK, YT
Fees retrieved November 1, 2026
Mitey reads Simplii Financial’s High Interest Savings Account rate sheet: $30 a year on $10,000.
What interest does High Interest Savings Account from Simplii Financial pay?
High Interest Savings Account lists 0.3%–1% (tiered) interest with FCAC. On $10,000 that is about $30 a year before tax, with no monthly fee, #41 of 72 savings accounts offered in Ontario by interest after fees. Eligible deposits are insured by CDIC up to $100,000 per category. Rates as listed on November 1, 2026; promotional rates may differ.
Is Simplii Financial High Interest Savings Account the best place for savings?
- Versus the top posted rate: on $10,000, 30 Day Notice Savings Account (EQ Bank, 3%) would pay about $270 more a year after fees.
- Tiers: the rate depends on the balance; the highest tier pays 1% from $1,000,000.
- Or lock it in: a 1-year GIC at 3.75% (Oaken Financial, posted November 2, 2026) would earn $375 on $10,000, against $30 here — but the money is locked in for the year.
Interest at different balances
| Balance | Rate | Interest a year |
|---|---|---|
| $1,000 | 0.3% | $3 |
| $10,000 | 0.3% | $30 |
| $50,000 | 0.3% | $150 |
| Balance | Rate (annual) |
|---|---|
| $0 to $50,000 | 0.3% |
| $50,000 to $100,000 | 0.5% |
| $100,000 to $500,000 | 0.6% |
| $500,000 to $1,000,000 | 0.7% |
| $1,000,000 and up | 1% |
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | Branch: 0 · self-serve: unlimited |
| Debit purchase in Canada (beyond included) | Not available |
| Online or mobile bill payment | Not available |
| Interac e-Transfer | Not available |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | Not available |
| Withdrawal at another institution’s ATM | Not available |
| ATM withdrawal in the United States | Not available |
| ATM withdrawal in other countries | Not available |
| Debit purchase in the United States | Not available |
| In-branch withdrawal | Not available |
| Bill payment in branch | Not available |
| Cheque (as a payment) | Not available |
| Mailed monthly statement | Not available |
| Non-sufficient funds (NSF) | Not stated |
| Overdraft protection, monthly | Not stated |
| Overdraft protection, per use | Not stated |
| Overdraft interest | Not stated |
Notes from the institution
FCAC retrieved information for this account from publicly available information on the financial institution's website. Product features, fees, rates and eligibility requirements may change. Please verify current account details directly with the financial institution.
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Simplii Financial’s product page
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