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Tangerine 2.5% Interest Rate February 6, 2018 to June 30, 2018 [TARGETED]

  • Last Updated:
  • Feb 12th, 2018 9:56 pm
Newbie
Mar 24, 2011
98 posts
3 upvotes
Vancouver
titaniumtux wrote:
Feb 12th, 2018 9:33 am
Simplii is my main bank because I started with PCF. I suppose I could do it all with Tangerine, but I now have two chq and two HISA's plus a uLOC with Simplii. With Simplii, you get unlimited free checks, unlimited linked accounts, unlimited Simplii accounts, some promo's on HISA interest rates, unlimited debit transactions, a great app (basically a code port from the CIBC app) that supports fps on Android and now free e-transfers.

What's coming is Visa debit, nicknaming accounts (they also have to fix their bug preventing nicknaming billing accounts), and very likely credit cards. It's good to build a credit history with Simplii since my guess is CIBC will use them to compete with Tangerine and the CU's.


I have a TD savings account for the sake of transferring money fast to my TD visa CC in order to meet the payment deadline (one free transfer out from savings account per month). Else their savings account is a joke, and chq account has lame fees unless you park a $5k balance. I'd rather park $5k in a HISA than to save on TD's any-purpose fees.

Plus TD's app doesn't support fps on Android. Although I like their app, some drawbacks shoot it back to over a decade ago.



Haven't seen the need to get a TFSA. I think a tax-free account is better used on mutual funds, since they yield higher interest. Also, for those of us who flip savings across Simplii/Tangerine/EQ/etc. we're collecting interest in different accounts/banks, and if it's under $50 in interest collected, I don't think we even get a T5 from the bank (would be too little money to declare).
I have the tangerine 2.4% promo till April 30th it seems, so I can't extend this to June 30th.
Deal Addict
Mar 8, 2013
1667 posts
478 upvotes
titaniumtux wrote:
Feb 12th, 2018 9:33 am
Also, for those of us who flip savings across Simplii/Tangerine/EQ/etc. we're collecting interest in different accounts/banks, and if it's under $50 in interest collected, I don't think we even get a T5 from the bank (would be too little money to declare).
The $50 minimum is a myth. According to the CRA website, "You may not receive a T5 slip if the investment income is less than $50, but you must still report this income."
https://www.canada.ca/en/revenue-agency ... ncome.html
Newbie
Sep 21, 2016
46 posts
38 upvotes
Quick question for someone that is new to savings/investing. What is the better route - the TSFA or the investment fund with tangerine? What would be the average return per year on $30k?
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May 8, 2009
3349 posts
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akaManny wrote:
Feb 12th, 2018 8:50 pm
The $50 minimum is a myth. According to the CRA website, "You may not receive a T5 slip if the investment income is less than $50, but you must still report this income."
https://www.canada.ca/en/revenue-agency ... ncome.html
Thank you for the info.
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