Is this with Tangerine? What I see in mine is "You're earning a special rate! From Jan 05, 2017 to Mar 31, 2017, your interest rate on up to $500,000 in your Tangerine Savings Account(s), RSP Savings Account(s) and Tax-Free Savings Account(s) is 2.19%. (This Offer applies only where you're the primary Account holder)." , so is this just me being too peasantly (ie, less than $500k) or are others doing something differently to get better promo rates, or..?
- Jan 4, 2017
- 228 posts
- 76 upvotes
- Deal Guru
- Aug 8, 2012
- 10198 posts
- 3913 upvotes
Someone could ask the same question about investing. Is it really worth the the trouble?
The trouble to avoid 2+% MERs?
The trouble to do ETFs instead of ~1% Tangerine?
The trouble to pick 0.10% MER ETFs vs 0.50% MER ETFs?
The trouble to pick stocks?
Depends on the individual.
HISAs are free to open, free to transfer between, and guaranteed return.
Depends on how much cash you have. If you have a sizeable portfolio and maintain 5-10% cash you are going to make 2-3.25% more on your cash vs the brokerage which is 0.20-0.325% more return on your portfolio (for 10% cash position vs 0% interest at the broker).
As a percentage of the other 90% of your portfolio that's 0.22% to 0.36%.
If you would sweat that type of difference on MERs on that 90% I would think it is fair for you to sweat the equivalent on your cash.
If you don't then you shouldn't.
Or if you have 0% cash position.