Personal Finance

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

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Apr 9, 2006
8326 posts
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jackie999 wrote:
Nov 27th, 2018 11:55 am
I think it's average. I use DUCA and their 1yr rate is 2.8%. Depending on how much you're investing you may get better.
Well I just read the fine print... I have to also maintain a balance of $50k to earn this special rate.
WTF... I might as well go with GIC... lol
Here’s how to make the most of this special rate:

Tangerine Savings Accounts
Keep your Savings Account balances at $50,000 or more and earn a special interest rate of 2.75% on your combined balances of up to $500,000 until November 30, 2019.
If your Savings Account balances happens to drop below $50,000, you can always bring your balances back up over $50,000 in order to start earning 2.75% again until November 30, 2019.
Tangerine Tax-Free and RSP Savings Accounts
Earn 2.75% interest on the balances in your Tax-Free and RSP Savings Accounts of up to $500,000 combined until November 30, 2019.
I just like to collect things! ¯\_(ツ)_/¯
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Jun 23, 2017
440 posts
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Toronto, ON
GiOBoY wrote:
Nov 27th, 2018 11:45 am
I was just offered 2.75% for 1 year (Tangerine... Dec 1 2018 --> Nov 30, 2019)

Is that a good offer?.. I was hoping for at least 3% for 1 year.
A whole year?? The best I ever got from Tangerine was a 6-month promo... usually they are 3-months.
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Oct 7, 2007
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905P4N6 wrote:
Nov 27th, 2018 3:18 pm
A whole year?? The best I ever got from Tangerine was a 6-month promo... usually they are 3-months.
If you are willing to lock in for one year, Tangerine is offering 3.1% right now, to everyone.
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Jan 30, 2012
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Ottawa
choclover wrote:
Nov 28th, 2018 3:27 pm
If you are willing to lock in for one year, Tangerine is offering 3.1% right now, to everyone.
how did u get 3.1% ...? is it for everyone?
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Jun 23, 2017
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Toronto, ON
choclover wrote:
Nov 28th, 2018 3:27 pm
If you are willing to lock in for one year, Tangerine is offering 3.1% right now, to everyone.
what do you mean 'lock in for one year'? you mean taking your name out of the lottery and just fix your Tangering Savings account rate @ 3.1% [interesting] ... or do you mean a 1-year GIC @ 3.1% [no thanks!]
Newbie
Jun 3, 2018
4 posts
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If you know you are not going to need that money for one year Tangerine is offering 1-year 3.1% GIC, it is not a targeted promo, anyone can lock in.
Deal Guru
Jan 7, 2002
14015 posts
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Waterloo, ON
jupiter99 wrote:
Nov 29th, 2018 10:04 am
If you know you are not going to need that money for one year Tangerine is offering 1-year 3.1% GIC, it is not a targeted promo, anyone can lock in.
As is Oaken if you need more CDIC insurance coverage. (Oaken has two separate entities, Home Bank and Home Trust so that's another $200k of CDIC coverage.)
veni, vidi, Visa [!Brim]
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Oct 7, 2007
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jupiter99 wrote:
Nov 29th, 2018 10:04 am
If you know you are not going to need that money for one year Tangerine is offering 1-year 3.1% GIC, it is not a targeted promo, anyone can lock in.
My sentiments exactly. I also think the 3.1% rate for one year is a good rate because it beats Oaken's 1-year rate and both are CDIC-insured institutions. Oaken usually has the highest GIC rates of all CDIC FI's.
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Dec 17, 2008
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choclover wrote:
Nov 29th, 2018 11:19 am
My sentiments exactly. I also think the 3.1% rate for one year is a good rate because it beats Oaken's 1-year rate and both are CDIC-insured institutions. Oaken usually has the highest GIC rates of all CDIC FI's.
Oaken raised their 1 year rate to 3.10 this morning.
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Deal Guru
Jan 7, 2002
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Waterloo, ON
choclover wrote:
Nov 29th, 2018 11:19 am
beats Oaken's 1-year rate and both are CDIC-insured institutions. Oaken usually has the highest GIC rates of all CDIC FI's.
Did you see my post directly above yours?
veni, vidi, Visa [!Brim]
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Oct 7, 2007
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bylo wrote:
Nov 29th, 2018 11:34 am
Did you see my post directly above yours?
Yes, but perhaps I read it too quickly the first time when I responded as I did. I think what you are getting is that you were presenting Oaken as a second place to go (before Oaken raised their 1-year rate to match Tangerine's of 3.1%) if a person has $100k+ to invest and wants full CDIC protection.
Deal Guru
Jan 7, 2002
14015 posts
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Waterloo, ON
choclover wrote:
Nov 30th, 2018 11:02 am
Yes, but perhaps I read it too quickly the first time when I responded as I did. I think what you are getting is that you were presenting Oaken as a second place to go (before Oaken raised their 1-year rate to match Tangerine's of 3.1%) if a person has $100k+ to invest and wants full CDIC protection.
No worries. Actually I'd already received Oaken's email, boosting their 1-yr GIC to match TING's 3.1%, when I posted. I mentioned this in part because this thread is generic, because not everyone likes to play TING's rate games, because Oaken had just announced the matching rate and because some may be seeking CDIC coverage beyond $100k.
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Jun 23, 2017
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Toronto, ON
if you join Tangerine and open an HISA .. they'll give you 3.00% interest for the first 6 months.
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May 9, 2006
1392 posts
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905P4N6 wrote:
Nov 30th, 2018 3:06 pm
if you join Tangerine and open an HISA .. they'll give you 3.00% interest for the first 6 months.
Only for new client, which did not has Tangerine account before.

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