Simplii Financial Mortgage Rates & Reviews
Simplii Financial Background
Simplii Financial is the direct banking brand of the Canadian Imperial Bank of Commerce (CIBC) and was established on November 1st, 2017. It offers a range of financial services such as mortgages, accounts, lines of credit, and a variety of investment products. Simplii financial provides its services to 2 million clients across Canada.
Simplii Financial Prime Rate
Simplii Financial's Prime Rate is used as the basis for many of Simplii Financial's lending products including variable rate mortgages, lines of credit, and HELOCs. Prime, or P, is normally combined with a spread to make up the final interest rate.
Current Simplii Financial Prime Rate: 2.45%
Simplii Financial Fixed-Rate Mortgages
| Term | Rate | Monthly Payment |
|---|---|---|
2-Year Fixed | 1.99% | $1,693 |
3-Year Fixed | 1.87% | $1,670 |
4-Year Fixed | 1.99% | $1,693 |
5-Year Fixed | 2.24% | $1,743 |
7-Year Fixed | 5.39% | $2,430 |
10-Year Fixed | 6.25% | $2,639 |
The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.
Simplii Financial Variable-Rate Mortgages
| Term | Rate | Monthly Payment |
|---|---|---|
5-Year Variable | 1.34% | $1,570 |
The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.