To be eligible for this HISA Offer, you must:
• be a new client with no prior relationship with Simplii Financial (a “New Simplii Client”). To become a Simplii Financial client, you must apply and be approved for a Simplii Financial product. When you apply for your first Simplii Financial product, we will create a unique client identification number for you (your “Client Number”); and
• open a HISA for the first time as the primary accountholder during the Offer Period and within 30 days after your Client Number was created (“Eligible HISA”).
If you qualify, your Eligible HISA will earn promotional interest during the Promotional Rate Period (subject to certain restrictions as outlined in Section 4). Only your first Eligible HISA will qualify for promotional interest under this HISA Offer (no matter how many HISAs you open). For joint HISAs, the HISA may be eligible to earn promotional interest if the primary accountholder is a New Simplii Client and meets all of the terms and conditions set out in these Terms.
3. How Interest is Calculated and Paid
The special annual interest rate of 6.00% is a combination of the regular annual interest rate set by Simplii Financial payable on a HISA balance (“Regular Interest”), plus the promotional annual interest rate (“Promotional Interest”).
Interest on an Eligible HISA is calculated as follows:
• Regular Interest is calculated at the current rate on each day’s full closing balance.
• Promotional Interest is calculated on each day's full closing balance up to a balance limit of $1,000,000 during the Promotional Rate Period.
