Simplii Financial Mortgage Rates

Simplii Financial is the direct banking subsidiary of the Canadian Imperial Bank of Commerce (CIBC). It was founded in 2017 following CIBC and the supermarket chain Loblaw Companies mutually deciding to end their 20-year joint venture of providing consumer banking services under the President’s Choice Financial brand.

Simplii traces its history to a 1996 co-venture between CIBC and Loblaws to provide banking services under the President’s Choice Financial brand. In August 2017 the two co-venture partners decided to end the relationship. Effective November 1, 2017 all 2 million PC Financial bank accounts as well as loans, mortgages, and investments were transferred to Simplii.

Simplii Financial Mortgage Rates

Simplii Financial mortgage rates include fixed and variable rates for a number of different lengths of terms and products including new purchases, first time home buyers, refinancing and debt consolidation and mortgage renewals.

Simplii Financial Mortgage Products

  • Simplii Financial Fixed Plus Mortgage
  • Simplii Financial Variable Rate Mortgage
  • Simplii Financial Fundamental Mortgage
  • Simplii Financial Starter Mortgage
  • Simplii Financial Cashback Mortgage

Simplii Financial Mortgage Options

  • Payment Options: Weekly, Bi-Weekly, Semi-Monthly, and Monthly
  • Terms: 2, 3, 4, 5, 7 and 10 Year Fixed and 5 Year Variable
  • Amortization: Up to 30 years Conventional and 25 Years Insured
  • Loan to Value: Up to 80% Conventional or 95% Insured

  • Prepayment: 20% Lump Sum Payment and 25% Increased Payments

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Simplii Financial News

  • CIBC Rebranding PC Financial as Simplii

CIBC Rebranding PC Financial as Simplii

August 18th, 2017|0 Comments

President's Choice is getting out of the daily banking business and more than two million current PC Financial customers are moving to CIBC, which will rebrand the bank as Simplii. The two companies announced the end of their almost 20-year collaboration on Wednesday, as Loblaw says it will retain its loyalty point program and MasterCard-branded credit card program, while all daily chequing, savings, lending and other banking services will move [...]