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Tangerine

Get up to $250 in Bonuses when you open a Tangerine Investment Account

  • Last Updated:
  • Sep 28th, 2017 7:33 pm
Banned
User avatar
Jan 27, 2014
5574 posts
2580 upvotes

[Tangerine] Get up to $250 in Bonuses when you open a Tangerine Investment Account

Deal Link:
Expiry:
October 31, 2017
Retailer:
Tangerine
More offers from Tangerine
Start Investing in a Tangerine Investment Fund Account by October 31, 2017 and Get a Bonus of up to $250*

Invest at least $1,000 into a Tangerine Investment Fund Account, and you’ll get a Bonus of $10 for every $1,000 invested up to $25,000. That’s a total Bonus of up to $250. Your Bonus will be paid as additional units towards your Investment Account. (It won’t impact contribution limits for registered accounts.)

The Funds can be held in an RSP, a TFSA, or a non-registered Investment Fund Account:

RSP Investment Fund Account — The ideal tool to put aside money for your retirement. Contributions are tax-deductible, so you can reduce your taxable income and ease your tax burden. And your investment returns are tax-deferred, which means you only pay tax on the money when you withdraw it – ideally in retirement, at a lower tax bracket.

TFSA Investment Fund Account — Growth is tax sheltered, and you don’t pay tax on the money when you withdraw it, either. As long as you remain within your contribution limits, the investment is tax-free.

Non-Registered Investment Fund Account — If you don’t have RSP or TFSA contribution room, or if you prefer the flexibility of not worrying about contribution limits, you can always hold your Investment Funds in a non-registered Account.
Last edited by TomRFD on Sep 19th, 2017 10:06 am, edited 1 time in total.
Reason: edited title
15 replies
Banned
User avatar
Jan 27, 2014
5574 posts
2580 upvotes
So what happens if you already have a TFSA with Tangerine and want to invest $25K in a TFSA to get this bonus?
Member
Jul 21, 2015
297 posts
324 upvotes
Toronto, ON
You have to leave the money in until December 31st, and the MER is 0.8%.

If you were already looking to invest this might be appealing, but if not I don't think it's worth the risk and the hassle
Deal Addict
User avatar
Aug 7, 2007
4795 posts
3847 upvotes
GTA
ar2020 wrote: So what happens if you already have a TFSA with Tangerine and want to invest $25K in a TFSA to get this bonus?
TFSA rules still apply. This promo doesn't exempt that. Best thing to do is remove your TFSA money end of December and then contribute it all back in January.
Member
Aug 24, 2007
413 posts
139 upvotes
GTA
Terms and Conditions

General

This Offer is only available to the first 500 new Clients of both Tangerine Investment Funds Limited and Tangerine Bank who open an Eligible Account as their first product with Tangerine between September 1, 2017 and October 31, 2017 inclusive (the “Bonus Period”).

Under the terms and conditions
Deal Addict
Sep 4, 2007
1693 posts
1946 upvotes
vancouver
antithesis99 wrote: You have to leave the money in until December 31st, and the MER is 0.8%.

If you were already looking to invest this might be appealing, but if not I don't think it's worth the risk and the hassle
OP's link says MER is 1.07% so this "deal" is actually a net loss. Wonderful.
Deal Addict
User avatar
Feb 17, 2005
4995 posts
2427 upvotes
Markham
sYc1234 wrote: Terms and Conditions

General

This Offer is only available to the first 500 new Clients of both Tangerine Investment Funds Limited and Tangerine Bank who open an Eligible Account as their first product with Tangerine between September 1, 2017 and October 31, 2017 inclusive (the “Bonus Period”).

Under the terms and conditions
It's not that great of deal and then you lose out if you aren't the first 500, not that I imagine seeing a lineup for these funds. Expensive index funds.
Newbie
Sep 17, 2017
42 posts
28 upvotes
frozenmelon wrote: OP's link says MER is 1.07% so this "deal" is actually a net loss. Wonderful.
Could 1.07% be per annual? If $25000/12*2months fees total about $50 so $200 gain total. May be too much hassle for it.
Banned
Mar 3, 2006
1198 posts
271 upvotes
Edmonton
Mine was too to $150 but doesnt need to be first 500 ppl
Deal Addict
Nov 25, 2014
1739 posts
960 upvotes
Newton Brook, ON
frozenmelon wrote: OP's link says MER is 1.07% so this "deal" is actually a net loss. Wonderful.
...That's assuming you leave it for a year AND the fund does nothing the whole time. Basically October to December 31 would cost you 0.2% and you gain 1%.
You need someone with an umbrella not a fork
Deal Addict
User avatar
Aug 30, 2015
2660 posts
3149 upvotes
Toronto, ON
It's equal to 1% bonus back on each $1000 you put in
I just opened a TFSA gives a bonus interest rate on 2.75% till the end of the month
No idea which one is better on return Disappointed But Relieved Face
Deal Addict
Sep 4, 2007
1693 posts
1946 upvotes
vancouver
nmclean wrote: ...That's assuming you leave it for a year AND the fund does nothing the whole time. Basically October to December 31 would cost you 0.2% and you gain 1%.
Ok. I agree. Still a bad deal though. You have to invest $25,000 to get the full $250. Plenty of better bank deals out there.
Deal Addict
Mar 8, 2007
1765 posts
835 upvotes
frozenmelon wrote: Ok. I agree. Still a bad deal though. You have to invest $25,000 to get the full $250. Plenty of better bank deals out there.
What better deals are there out there? I'm not looking for a 3 month return, I actually want to invest in funds long term. I also don't want to use Questrade etc to manage each stock myself. Is the tangerine option a good route if you're actually planning to invest long term?
Member
User avatar
Aug 12, 2010
240 posts
54 upvotes
NCR - RCN
funnypanks wrote: What better deals are there out there? I'm not looking for a 3 month return, I actually want to invest in funds long term. I also don't want to use Questrade etc to manage each stock myself. Is the tangerine option a good route if you're actually planning to invest long term?
Long term? Go to a couple of banks and ask for advice... :) Take the advice, but place it with whomever you want afterwards. I had 70k with RBC, just sitting around, then moved all of it to tangerine TFSA and savings... I'm going to talk with an RBC guy for medium to long term options. He doesnt care if I'm not with RBC, he just wants to give advice.

Mind you, I always laugh we I suddenly put 50K+ in an account in any bank, and you start getting emails/calls/etc from them to 'better help you' with your money... I always ask 'where were you before I added this money??'
Total $ spent because of RFD... $15,277.42
Total $ saved because of RFD... $7471.93

Not paying 'retail' for anything: Priceless
Deal Addict
Nov 25, 2014
1739 posts
960 upvotes
Newton Brook, ON
funnypanks wrote: What better deals are there out there? I'm not looking for a 3 month return, I actually want to invest in funds long term. I also don't want to use Questrade etc to manage each stock myself. Is the tangerine option a good route if you're actually planning to invest long term?
I think they're comparing it to bank promos. For investing this is basically a 1% discount, so 0.07% fees for the first year which is pretty hard to beat. You could even pay the $45 TFSA/RSP transfer fee down the road and still come out ahead.

But for long term this bonus is a drop in the bucket so it depends. But if you really never want to manage anything yourself, I think Tangerine really is the best option out there right now.
You need someone with an umbrella not a fork
Deal Expert
Mar 25, 2005
22706 posts
3696 upvotes
My envelope just showed up. Its not a terrible offer. Of course you would owe cap gains outside of a registered account.

Invest $15,000 on Oct 31, withdraw on Jan 1 -> roughly two months
Pay 1.07% MER on $15,000 -> $26.75
Bonus of 1% on first $15,000 -> $150
Net bonus: $123.55 on $15,000 in two months.

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