† The Simplii FinancialTM up to $3,000 Cash Reward offer (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, 2020 and August 31, 2020 (the “Offer Period”) that meet all of the terms and conditions below.
The Offer will be awarded in the following manners:
Qualifying clients will receive the following amount (“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 or switch/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 approved and funded on or before November 30, 2020.
3. Primary borrower or any co-borrower(s) of the mortgage must, by the applicable date set out below: (i) have or open a Simplii Financial No FeeTM 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 in September 2020, if the mortgage is funded by June 30, 2020 and all the applicable conditions under section 3 are met by July 31, 2020. Cash Reward will be deposited into the Chequing Account in December 2020, if the mortgage is funded between July 1, 2020 and September 30, 2020 and all the applicable conditions under section 3 are met by October 31, 2020. Cash Reward will be deposited into the Chequing Account in February 2021, if the mortgage is funded between October 1, 2020 and November 30, 2020 and all the applicable conditions under section 3 are met by December 31, 2020.
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.
^120-day rate guarantee available upon mortgage pre-approval or approval. Not available for variable rate mortgages. Subject to change without notice.
**Special offers apply only to new mortgages of owner-occupied properties with an amortization of 25 years or less. Annual Percentage Rate (APR) is based on a new $400,000 mortgage for the applicable term and a 25-year amortization assuming a Property Valuation Fee of $300. Rates shown for the applicable term are Simplii Financial’s special discounted rates and are not posted rates of Simplii Financial. Offer may be changed, withdrawn or extended at any time, without notice. Offer cannot be combined with other offers and is not available on variable rate, cashback fixed rate mortgages, existing Simplii Financial mortgages or mortgage renewals.
‡The Mortgage Prepayment Calculator results are based on the information you provided and are for illustrative and general information purposes only. This calculator is not intended to provide specific financial or other advice, and should not 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 FinancialTM will constitute conclusive evidence of such data.
††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.
“SIMPLII FINANCIAL” and the SIMPLII FINANCIAL DESIGNS are trademarks of CIBC.
“Simplii Financial” is a division of CIBC. Banking services are not available in Quebec.
*Trademark of Visa Int., used under license.