1.25% Simplii Financial
Interest
  • Calculated daily
  • Paid monthly
Insurance
CDIC insured
Transaction fees1
Included transactions: n/a
Item Fee
Transactions $0.00
Internal transfers $0.00
E-transfer2 $0.00
External ATM2 $0.00
1 extra charges may apply for teller-assisted transactions
2 plus transaction fee
Monthly fee
$0.00
Notes
  • No minimum age requirements to open. Must be closed by December 31st in the year you turn 71
  • Contributions are tax-deductible
  • but when you withdraw any funds the amount is taxable.
  • Over-contributions are assessed a 1% penalty per month. Income interest not taxed until withdrawn. Withdrawals
  • in whole or in part
  • are permitted any time without fees or penalties but are subject to withholding tax
  • as mandated by the Canada Revenue Agency (CRA)
  • Transfer out fee - $50
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