^◊You will not pay income taxes on any interest amount earned unless you deliberately over-contributed. Contributions in excess of your personal contribution room will be subject to a penalty tax. Contributions withdrawn are added to your contribution room for the next calendar year, except for withdrawals to correct over-contributions.

¹ Funds are taxable upon withdrawal. RRSP Savings Account is not eligible for withdrawals through bank machine or INTERAC Direct payment transactions. A transfer fee applies if you transfer funds to another financial institution, other than CIBC.

² Funds are not taxable even when withdrawn. Any withdrawals made from your account during the year will be added to your contribution room for the next calendar year, other than withdrawals to correct over-contributions. Transfers between Tax-Free Savings Accounts will leave your annual contribution room unchanged. The Tax-Free Savings Account is not eligible for withdrawals through bank machine or Interac® Debit transactions. A transfer [go to] fee applies if you transfer funds to another financial institution, other than CIBC.

³ Transfers in are considered contributions unless the transfer is from another RRSP of yours or, in certain circumstances, your spouse or common-law partner.

⁴ Transfers in are considered contributions unless the transfer is from another Tax-Free Savings Account of yours or, in certain circumstances, your spouse or common-law partner.

*The Simplii Financial^TM promotional interest offer (the “Offer”) is available to new and existing Eligible Savings Accounts and Eligible Registered Savings Accounts (as defined below) between November 1, 2017 – February 28, 2018 (the “Offer Period”). The special annual interest rate of 3.0% is a combination of the regular annual interest rate set by Simplii Financial payable on an Eligible Savings Account and Eligible Registered Savings Accounts balance (“Regular Interest”), plus promotional interest (“Promotional Interest”) that is calculated for the Offer Period on the Additional Balance as defined below.

A. Savings Offer

“Eligible Savings Account” means a Simplii Financial High Interest Savings Account and/or Simplii Financial Savings Account. Only primary account holders are eligible for the Offer.

1. The Promotional Interest is calculated on the portion of the Eligible Savings Account’s average daily closing balance during the Offer Period that exceeds the closing balance as at October 31, 2017 (the “Additional Balance”) to a maximum of $500,000 in Additional Balances across all of an account holder’s Eligible Savings Accounts. If an Eligible Savings Account is overdrawn as at October 31, 2017, the closing balance is deemed to be $0.00. Promotional Interest will not be paid on existing funds that were in a Simplii Financial account as at October 31, 2017 and are transferred to an Eligible Savings Account.
2. Promotional Interest will be paid in March 2018 into a single Eligible Savings Account held by a primary account holder. Promotional Interest will not be paid unless at least one of the primary account holder’s Eligible Savings Account is active and in good standing as at February 28, 2018. If a primary account holder holds more than one Eligible Savings Account, Promotional Interest will be paid to an Eligible Savings Account in the following priority sequence.

• to the primary account holder’s High Interest Savings Account, if it is active and in good standing; otherwise
• to the primary account holder’s Savings Account, if it is active and in good standing.

In the event the primary account holder has more than one of the same account type, Promotional Interest will be paid to the oldest account that is active and in good standing.

B. Registered Savings Offer

“Eligible Registered Savings Account” means a Simplii Financial Daily Interest RRSP Account, RRSP Savings Account and/or Tax -Free Savings Account.

1. The Promotional Interest is calculated on the portion of the Eligible Registered Savings Account’s average daily closing balance during the Offer Period that exceeds the closing balance as at October 31, 2017 (the “Additional Balance”) to a maximum of $500,000 in Additional Balances across all of an account holder’s Eligible Registered Savings Accounts. If an Eligible Registered Savings Account is overdrawn as at October 31, 2017, the closing balance is deemed to be $0.00. You can contribute up to your contribution room. A tax applies to all contributions exceeding your contribution room. Your TFSA contribution room or RRSP deduction limit information can be found by visiting the Canada Revenue Agency (CRA) web page at: www.cra-arc.gc.ca 
2. All Promotional Interest will be paid in March 2018 into a single Eligible Registered Savings Account held by a primary account holder. If an account holder has multiple Eligible Registered Savings Accounts, the Promotional Interest for each Eligible Registered Savings Account will be paid separately into that Eligible Registered Savings Account. Promotional Interest will not be paid into any Eligible Registered Savings Account that is not active and in good standing as at February 28, 2018.

PLEASE NOTE: Eligible Savings Accounts and Eligible Registered Savings Accounts will continue to earn Regular Interest on balances, calculated daily and paid monthly. Regular Interest rates are subject to change at any time; visit http://www.simplii.com/rates for current regular rates. Promotional Interest recipient is solely responsible for any tax consequences associated with the Promotional Interest. Additional terms, conditions and limitations apply to opening and making deposits in an Eligible Savings Account or Eligible Registered Savings Account. Individuals must meet the criteria Simplii Financial to open or hold an Eligible Savings Account or Eligible Registered Savings Account in order to qualify for the Offer. Promotional Interest recipient is solely responsible for any tax consequences associated with the Promotional Interest. The Promotional Interest cannot be substituted or transferred to a third party. Details are available upon request. The Offer is non-transferable and cannot be combined with other promotional rate offers. The provider of Simplii Financial personal banking services (a division of CIBC), reserves the right to cancel or change the terms of the Offer at any time, and revoke the Offer for any customer who appears to be manipulating or abusing the Offer, or is engaged in any suspicious/fraudulent activity. The Offer is subject to the terms and conditions of the Simplii Financial Products and Services Agreement.