Simplii Financialᵀᴹ

The Simplii ISBO program has two options to select from:

1. Student GIC Program¹

• In collaboration with Canadian Government, the Student GIC Program helps you apply for a study permit by meeting the Immigration, Refugee and Citizenship Canada guidelines for funds needed for your living expenses while studying in Canada for countries supported by the Government’s program.

• Transfer a minimum of $5,000 CAD and up to $50,000 CAD per transaction in your preferred currency² to meet the minimum financial requirement of $20,635 CAD.

• Once you arrive in Canada and activate your account, you will receive the funds locked in your GIC Program account in monthly disbursements over the course of the first year.

• Here is an example of how the disbursements will work once you activate your account. Note: this example is based on transferring the equivalent of $20,635 CAD in a foreign currency.

  • 70% of your funds (up to a maximum of $14,444.50) will be placed into a GIC Program account with 11 equal payments disbursed over a one-year period;

  • The remaining amount will be available in your chequing account after activation.

  • After 12 months, you’ll have received your full investment back, plus any earned interest.

2. Simplii ISBO Deposit Program³

• Transfer a minimum of $2,500 CAD up to $50,000 CAD per transaction in any currency offered² by us to enrol in the ISBO Deposit Program before you move to Canada.

• You will have access to your funds once you have arrived in Canada and complete the activation steps

* Posting information relating to Simplii or ISBO Program is not, and should not be construed as, solicitation or invitation for availing services, by Simplii. Information by Simplii in relation to ISBO will be available to non-Canadian residents only at their request. *

_{1 Students can send a minimum of $10,000 CAD up to $50,000 CAD in any currency offered by Simplii to enroll in the GIC program. You will be required to open a Simplii Deposit account to purchase GICs.}

_{2 CIBC foreign exchange rates apply. Foreign exchange rates applied incorporate a spread by CIBC.}

_{3 Students can send a minimum of $2,500 CAD up to $50,000 CAD in any currency offered by CIBC to enroll in the CIBC Student Deposit Program. Your expected arrival date should be within 365 days (12 months) of the date you submit your ISBO application. If you are arriving later than 365 days, you will need to wait and apply when you are within 365 days of arriving in Canada. You must be 15 years or older to submit an ISBO application.}

*Terms and Conditions apply. Please visit cibc.com/isbo for further details. Products and their features may change at any time.