† The Simplii Financial™ up to $3,000 Cash Reward offer, also known as the “offer” is available to all eligible mortgages. “Eligible” mortgages are new residential mortgages for which an application has been initiated and submitted for credit adjudication between March 1, 2021 and September 30, 2021 during this “offer period,” and meet all of the terms and conditions below.
The offer will be awarded in the following manners:
Qualifying clients will receive the following amounts as a “cash reward” if all of the below conditions are met:
- $3,000, if the principal amount of the mortgage is $750,000 or more;
- $2,000, if the principal amount of the mortgage is between $500,000 and $749,999;
- $1,200, if the principal amount of the mortgage is between $300,000 and $499,999; or
- $1,000, if the principal amount of the mortgages is between $100,000 and $299,999.
Qualifying clients will receive an amount that is $250 less than the amount set out above for the applicable mortgage principal amount if all of the below conditions are met with exception of sections 3(iii) and 3(iv).
1. The purpose of the mortgage must be to purchase a residential property, or to refinance, switch or transfer in your non-Simplii Financial residential mortgage to Simplii Financial. The offer is not available for mortgages transferred from CIBC or FirstLine.
2. The mortgage must be a 5-year Fixed Rate or Variable Rate Mortgage and have a principal amount equal to or greater than $100,000. Mortgage must be funded within 120 days of application submission date.
3. Primary borrower or any co-borrowers of the mortgage must, by the last day of the month that immediately follows the month in which the mortgage was funded:
(i) have or open a Simplii Financial No Fee™ Chequing Account (“chequing account”);
(ii) have the mortgage payment made as a pre-authorized payment from the chequing account, with at least one pre-authorized Simplii Financial mortgage payment made from the Chequing Account;
(iii) be enrolled in a payroll or pension direct deposit into the chequing account, with at least one payroll or pension direct deposit made into the chequing account; and
(iv) have or open a Simplii Financial Cash Back Visa* (“Cash Back Visa*”). The Cash Back Visa* is subject to credit approval, conditions and other restrictions may apply.
4. The chequing account and The Cash Back Visa* have to be open and must be, together with the mortgage, in good standing and remain so until the cash reward is deposited.
5. Cash reward will be deposited into the chequing account by the end of the month that immediately follows the date on which all applicable conditions in section 3 are met. For example, if the mortgage funds in March, the client must meet all applicable conditions of section 3 by the end of April, and the cash reward will be deposited into the chequing account by the end of May.
6. The recipient of the cash reward is solely responsible for any tax consequences associated with their receipt of the cash reward. Mortgages are subject to credit approval. Minimum principal amount for a Simplii Financial mortgage is $35,000. Not available in Quebec. Conditions and restrictions apply; ask for details. Simplii Financial reserves the right to determine, in its sole discretion, whether a borrower has initiated and submitted a mortgage application for credit adjudication during the offer period. Offer and cash reward are non-transferable. Limit one cash reward per mortgage, per client.
7. Offer and cash reward cannot be combined with other promotional offers. Offer may be revoked if you appear to be manipulating or abusing it, or are engaged in any suspicious or fraudulent activity, as determined by Simplii Financial, in its sole discretion. Offer may be withdrawn or changed without notice, at any time, for any reason.
8. Other terms and conditions for Simplii Financial Mortgage, Simplii Financial No Fee Chequing Account and Simplii Financial Cash Back Visa* may apply.
†† The minimum principal amount for a Simplii Financial mortgage is $35,000. Mortgages are subject to credit approval. Not available in Quebec. Conditions and restrictions apply; ask for details.
◊◊ Special rates apply only to new mortgages of owner-occupied properties with an amortization of 25 years or less. The rates shown for the applicable term are Simplii Financial’s special discounted rates and aren’t posted rates of Simplii Financial. The offer may be changed, withdrawn or extended at any time, without notice. The offer can’t be combined with other offers and isn’t available on variable rate, cashback fixed-rate mortgages, existing Simplii Financial mortgages or mortgage renewals. APR means the cost of borrowing for a loan expressed as an interest rate. It includes all interest and non-interest charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same.
^ 120-day rate guarantee available upon mortgage pre-approval or approval. Not available for variable rate mortgages. Subject to change without notice.
✦ High-ratio rates are available only for a new, high-ratio 5-year Fixed Rate Mortgage or 5-year Variable Rate Mortgage of an owner-occupied property where the principal amount of the mortgage is $35,000 or more and the amortization is 25 years or less. Rates shown for the applicable term are Simplii Financial’s special discounted rates and aren’t the posted rates of Simplii Financial. Simplii Financial reserves the right to determine, in our sole discretion, at what point in time a borrower has submitted a mortgage application for credit adjudication. All applicants must meet the Simplii Financial lending criteria and mortgages are subject to credit approval. Rates are subject to change. The special rate offer may be withdrawn for any reason without notice at any time. The special rate offer can’t be combined with other promotional offers and may be revoked if you appear to be manipulating or abusing it, or are engaged in any suspicious or fraudulent activity, as determined by Simplii Financial in our sole discretion.
‡ The mortgage prepayment calculator results are based on the information you provided and are for illustrative and general information purposes only. This calculator isn’t intended to provide specific financial or other advice, and shouldn’t be relied upon in that regard. The actual prepayment charge may differ from the estimate provided. For purposes of determining the prepayment charge applicable to your mortgage, the data taken from the accounts and records of Simplii Financial™ will constitute conclusive evidence of such data.