Personal Finance

The Official RFD thread for Savings Accounts! (Updated 08/03/2018)

Member
Mar 15, 2011
360 posts
86 upvotes
Toronto
Just wanted to note that the Scotia momentum plus savings has a promo and a premium on top of the 0.90% that could give a rate of 2.65% till june 30 if you go for the premium lock in

Details on scotia site.
Deal Guru
Jan 7, 2002
13198 posts
5605 upvotes
Waterloo, ON
angel_wing0 wrote:
Apr 15th, 2018 8:58 pm
Agreed, it's impossible to keep it updated every moment because I dont check every moment. Well I have been busy like crazy hence the lack of updates so I apologize for that.
I wasn't suggesting that you should. There's no need to apologize for having a life ;)

I simply warned the other poster that the list may not be 100% current because "Trying to create/maintain an accurate list is an exercise in futility."
veni, vidi, Visa
Sr. Member
Mar 18, 2007
617 posts
165 upvotes
GreenFinGirl wrote:
Apr 16th, 2018 2:02 pm
Scotia momentum plus savings has a promo and a premium on top of the 0.90% that could give a rate of 2.65% till june 30 if you go for the premium lock in
Locked in for a year ... isn't that a GIC?
Member
Mar 15, 2011
360 posts
86 upvotes
Toronto
WalterQ wrote:
Apr 17th, 2018 8:37 am
Locked in for a year ... isn't that a GIC?
That is exactly what I was thinking. It sounds like if you withdraw before the premium period is up you only get the base rate of 0.90%
Deal Addict
User avatar
May 11, 2014
2255 posts
1190 upvotes
Iqaluit, NT
WalterQ wrote:
Apr 17th, 2018 8:37 am
Locked in for a year ... isn't that a GIC?
GreenFinGirl wrote:
Apr 17th, 2018 6:53 pm
That is exactly what I was thinking. It sounds like if you withdraw before the premium period is up you only get the base rate of 0.90%
It's set up like a 90, 180, or 270 day Cashable GIC with the penalty being you forfeit the bonus interest except for 0.90% but you can always add funds to it. It's very convoluted.

Also, I recommended no-one set up a automated transfer to this account. As it currently stands, I cannot make changes or cancel it unless I go to the branch which is ridiculous. I have two $25 transfers going into it the same day. The only reason why is because I thought the first one didn't go through because I couldn't see it on my pending transfers but it is actually hidden.
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Deal Addict
Dec 25, 2005
1994 posts
53 upvotes
Do most of these accounts use a credit check when opening?
or is it more hit and miss?
some are hard hits I've read?
Newbie
Mar 21, 2018
45 posts
5 upvotes
Finally pulled the trigger on tangerine, realized how hard it is to prove your identity if you are not a citizen and do most things paperless with no printer available. What a pain. For one thing since my middle name or first letter of it is on my ID, it has to be one profile page. Never encountered this problem before anywhere. This happened to anyone else?
Deal Addict
Dec 9, 2007
2791 posts
251 upvotes
about CDIC insurance (dont have faith in the Economy) is it coverage up to $100,000 per banking institution or is it only $50,000? Do people split up their money because of this?
Member
User avatar
Jun 23, 2017
396 posts
140 upvotes
Toronto, ON
Got this offer.... Just in time, because I needed a better place to move my Tangerine Savings Account money before May 31, 2018. (by default it would have been EQ Bank's 2.3%).

"At RBC, we’re always looking for ways to help you grow your savings faster. Here's your chance to earn a great rate! Move your money from another bank to an RBC High Interest eSavings Account
and earn 2.50% interest1 on all new deposits until August 15, 2018."

NOTE: by applying on-line, it does disclose that there WILL be a credit bureau check.


My Tangerine 2.5% rate expires May 31 ... but I see they created a 1-year GIC for 2.5% to retain my business. I guess that doesn't really count.
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May 8, 2009
6480 posts
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905P4N6 wrote:
May 21st, 2018 6:28 am
Got this offer.... Just in time, because I needed a better place to move my Tangerine Savings Account money before May 31, 2018. (by default it would have been EQ Bank's 2.3%).

"At RBC, we’re always looking for ways to help you grow your savings faster. Here's your chance to earn a great rate! Move your money from another bank to an RBC High Interest eSavings Account
and earn 2.50% interest1 on all new deposits until August 15, 2018."

NOTE: by applying on-line, it does disclose that there WILL be a credit bureau check.


My Tangerine 2.5% rate expires May 31 ... but I see they created a 1-year GIC for 2.5% to retain my business. I guess that doesn't really count.
Targetted? I never got that email. Open to everyone on new money?
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May 8, 2009
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MoneyHypeMike wrote:
May 27th, 2018 2:22 pm
Seems targeted, their website still shows 0.9%.
Darn, to be fair, even for the same rate, Tang>RBC since you only get one no-fee withdrawal from RBC per month. For a HISA, I gotta be able to move money in and out any time Thinking Face
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Member
User avatar
Jun 23, 2017
396 posts
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Toronto, ON
titaniumtux wrote:
May 27th, 2018 2:48 pm
Darn, to be fair, even for the same rate, Tang>RBC since you only get one no-fee withdrawal from RBC per month. For a HISA, I gotta be able to move money in and out any time Thinking Face
I have an RBC chequing account . From this RBC High Interest eSavings account, you are allowed unlimited free transfers to other RBC accounts in a month.
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May 8, 2009
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905P4N6 wrote:
May 28th, 2018 7:27 am
I have an RBC chequing account . From this RBC High Interest eSavings account, you are allowed unlimited free transfers to other RBC accounts in a month.
Requires chq account to enable this, or it's a certain type of savings account?
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