Expired Hot Deals

[Tangerine Savings] Tangerine 2.75% Interest Rate 0ct 4 - December 31 [TARGETED]

  • Last Updated:
  • Jan 4th, 2018 9:20 am
Deal Guru
Jan 7, 2002
12666 posts
5023 upvotes
Waterloo, ON
eriken wrote:
Nov 11th, 2017 7:04 am
why instead not invest on dividend stock that pays monthly? Corus Enterteiment pays 9% + monthly and never missed a payment. There are safe stocks that will pay quarltly but do your due diligence
If that was such a "sure thing" i.e. low risk, don't you think all the media would be touting this strategy and everyone would already be doing it?

As for "due diligence", that's an easy phrase to bandy about as a disclaimer. It's a lot harder to do it successfully in practice.

Dividends aren't guaranteed. A company can cut the dividend rate or even the dividend altogether when times get tough. Usually they have to do this because their business is in trouble and/or the economy is in trouble. Either of those plus a dividend cut usually result in a dramatic decline in the price of the company's stock. So you suffer a loss not only on the dividends but also on the principal.

While Canadian banks haven't cut dividends in decades, it could still happen. Indeed reversion-to-the-mean suggests the longer the upswing the more likely a downswing. Besides it's not a good idea to invest money solely in the financial industry. And of course Corus is hardly as secure and low-risk as a big-5 Canadian bank.

Also there have been periods in market history when aggregate dividend yields have been lower than HISAs rates.

See also my comments here and here about why equities, even blue chips, are hardly a substitute for a HISA.
veni, vidi, Visa
Member
Mar 4, 2008
285 posts
29 upvotes
BC
Haven't done this with Tangerine much, but I phoned it for the first time to ask if they had a higher interest rate they could offer me, they gave me 2.5% to only savings account and not my TFSA. Most of my money is all in my TFSA...
Banned
Nov 30, 2017
25 posts
8 upvotes
So is Thursday the best day to do a PULL into Tangerine from your external account like Simplii Financial ?

So the money will be in Tangerine the next business day - i.e Friday & will start earning interest in Tangerine from Friday.

But it won't leave Simplii Financial till Monday . So basically Fri, Sat & Sun for 3 days its earning interest in both places - Simplii & Tangerine.

Does it matter what time you do the PULL on Thursday ? Before 5.00 PM or after 5.00 PM or something like that ? Or it doesn't matter.

TIA
Deal Addict
Apr 18, 2008
1022 posts
187 upvotes
Toronto
A bump for reminder to plan your next move for those playing The 3 Month Tangerine Lottery. (But discussions should go to that thread in Personal Finance, not to pollute the Hot Deals forum.)
Amerifriend threads need to include instructions on how to acquire an amerifriend. :confused:
Deal Addict
Jul 26, 2012
1060 posts
31 upvotes
when should i transfer the money to my chequing account?
Jr. Member
Dec 25, 2017
157 posts
139 upvotes
taeyang987 wrote:
Dec 28th, 2017 1:09 am
when should i transfer the money to my chequing account?
Please read just above you.
ssiu wrote:
Dec 28th, 2017 1:06 am
A bump for reminder to plan your next move for those playing The 3 Month Tangerine Lottery. (But discussions should go to that thread in Personal Finance, not to pollute the Hot Deals forum.)
Deal Addict
User avatar
Dec 10, 2006
1210 posts
192 upvotes
Edmonton, AB
Thx for the reminder. Just moved my money to EQ bank. Might be too late now because it takes up to 5 business days but oh well - EQ needs some business too :)
Member
Oct 8, 2006
334 posts
90 upvotes
Okanagan Valley
CyniC- wrote:
Dec 28th, 2017 2:54 am
Thx for the reminder. Just moved my money to EQ bank. Might be too late now because it takes up to 5 business days but oh well - EQ needs some business too :)
If you did a deposit to EQ and a pull from Tangerine, you should have got a credit to EQ right away but the debit will "likely" not hit Tangerine until Jan 2 or 3 which should work out fine ..double interest over the weekend
Member
User avatar
May 1, 2015
405 posts
163 upvotes
Toronto, ON
CyniC- wrote:
Dec 28th, 2017 2:54 am
Thx for the reminder. Just moved my money to EQ bank. Might be too late now because it takes up to 5 business days but oh well - EQ needs some business too :)
i thought so too and pulled my money yesterday. but the transfer was complete the same day! of-late my transfers to my other bank account from tangerine have been really quick.
If you did not switch to the $60 10GB plan when everyone else did you are not a true RFD'er 😝
Running successful Spotify group buy since June 2018
Running successful Netflix group buy since Dec 2017
Deal Addict
Feb 6, 2014
1616 posts
367 upvotes
Brampton
Whats the best option for TFSA? Keep in Simplii for 3% until Feb ? Or withdraw before 31st and hunt for better / longer interest rate in 2018?
Koodo 60$ 10gb plan
Public Mobile 36$ 4gb plan
Deal Addict
User avatar
Aug 11, 2009
2753 posts
246 upvotes
I am also wondering if I should transfer my Tangerine money to my other bank today or tomorrow?
PSN: RunOrDie226
add me!
Deal Fanatic
Mar 30, 2011
7270 posts
719 upvotes
bylo wrote:
Nov 11th, 2017 7:34 am
If that was such a "sure thing" i.e. low risk, don't you think all the media would be touting this strategy and everyone would already be doing it?

As for "due diligence", that's an easy phrase to bandy about as a disclaimer. It's a lot harder to do it successfully in practice.

Dividends aren't guaranteed. A company can cut the dividend rate or even the dividend altogether when times get tough. Usually they have to do this because their business is in trouble and/or the economy is in trouble. Either of those plus a dividend cut usually result in a dramatic decline in the price of the company's stock. So you suffer a loss not only on the dividends but also on the principal.

While Canadian banks haven't cut dividends in decades, it could still happen. Indeed reversion-to-the-mean suggests the longer the upswing the more likely a downswing. Besides it's not a good idea to invest money solely in the financial industry. And of course Corus is hardly as secure and low-risk as a big-5 Canadian bank.

Also there have been periods in market history when aggregate dividend yields have been lower than HISAs rates.

See also my comments here and here about why equities, even blue chips, are hardly a substitute for a HISA.
indeed. different class of vehicle has different risk profile, can't be compared just with 'yield/return'.
Member
Jun 12, 2014
214 posts
99 upvotes
Montreal, QC
I transferred from my Tangerine TFSA to my Tangerine savings account. So long as it's out of the TFSA before the end of the year, it should be fine right?
Frugalmeister
Member
Oct 8, 2006
334 posts
90 upvotes
Okanagan Valley
Frugalmeister wrote:
Dec 28th, 2017 4:30 pm
I transferred from my Tangerine TFSA to my Tangerine savings account. So long as it's out of the TFSA before the end of the year, it should be fine right?
Should be....and then Jan 1,2018 you can recontribute up to your allowable limit

Top