About Simplii Financial
Simplii Financial is the direct (digital-only) banking brand of CIBC, launched November 1, 2017 when CIBC's President's Choice Financial co-venture with Loblaw ended and its roughly two million accounts were transferred to Simplii. It offers no-fee chequing, savings, GICs, mortgages, loans, and a cash-back Visa entirely through online, mobile, and telephone channels, with deposits held at CIBC and CDIC-insured.
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Access: Open to all Canadians
Eligible provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland & Labrador, Nova Scotia, Northwest Territories, Nunavut, Ontario, Prince Edward Island, Saskatchewan, Yukon
How to join: Apply online at simplii.com; accounts are opened and serviced entirely through digital and telephone channels.
Notes: CIBC-owned
Deposit protection: Canada Deposit Insurance Corporation
$100,000 per insured category per member institution
Current top rates
rates confirmed as of 2026-10-11| GIC ladder | Best rate |
|---|---|
| 1-year GIC | 2.86% |
| 2-year GIC | 2.96% |
| 3-year GIC | 3.15% |
| 4-year GIC | 3.49% |
| 5-year GIC | 3.59% |
Base ladder rates. Institution may have more term rates below.
Rate history builds here as we track this institution's rates over time.
Term deposit rates
— not stated on siterates confirmed as of 2026-10-11Filter rates
| Term | Registration | Redeemable | Compounding | Interest paid | Min–Max deposit | Rate |
|---|---|---|---|---|---|---|
| Long-term — 1 year + | ||||||
| 1 year | Non-regRESPRDSPRRIF | N | — | Monthly | — | 2.86% |
| 2 years | Non-regRESPRDSPRRIF | N | — | Monthly | — | 2.96% |
| 3 years | Non-regRESPRDSPRRIF | N | — | Monthly | — | 3.15% |
| 4 years | Non-regRESPRDSPRRIF | N | — | Monthly | — | 3.49% |
| 5 years | Non-regRESPRDSPRRIF | N | — | Monthly | — | 3.59% |
No rates match these filters.
Savings & chequing rates
rates confirmed as of 2026-10-11Filter rates
| Type | Product | Calculated | Paid | Min. balance | Rate |
|---|---|---|---|---|---|
| Savings | |||||
| Savings | RRSP Savings Account | Daily | Monthly | $0 | 0.40% |
| Savings | TFSA Savings Account | Daily | Monthly | $0 | 0.40% |
| HISA | High-Interest Savings Account | — | — | $0 | 0.30% |
| HISA | High-Interest Savings Account | — | — | $50,000.01 | 0.50% |
| HISA | High-Interest Savings Account | — | — | $100,000.01 | 0.60% |
| HISA | High-Interest Savings Account | — | — | $500,000.01 | 0.70% |
| HISA | High-Interest Savings Account | — | — | $1,000,000.01 | 1.00% |
| USD | USD Savings AccountUS$ | — | — | $0 | 2.80% |
| Chequing | |||||
| Chequing | No Fee Chequing Account | — | — | $0 | 0.01% |
| Chequing | No Fee Chequing Account | — | — | $50,000.01 | 0.01% |
| Chequing | No Fee Chequing Account | — | — | $100,000.01 | 0.01% |
| Chequing | No Fee Chequing Account | — | — | $500,000.01 | 0.01% |
| Chequing | No Fee Chequing Account | — | — | $1,000,000.01 | 0.01% |
No rates match these filters.
Mortgage rates
rates confirmed as of 2026-10-11Filter rates
| Term | Type | Open / closed | Insured | Posted rate |
|---|---|---|---|---|
| 2-year | Fixed | Closed | No | 4.84% |
| 3-year | Fixed | Closed | No | 5.09% |
| 4-year | Fixed | Closed | No | 5.24% |
| 5-year | Fixed | Closed | No | 5.34% |
| 5-year | Variable | Closed | No | 4.20% |
No mortgage rates match these filters.
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