Personal Finance

Tangerine Interest Rate Lottery thread

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  • Mar 28th, 2024 3:03 pm
Deal Fanatic
Jan 21, 2014
8518 posts
6261 upvotes
Are the offers coming in while the old ones still not expired? We have 3% till end of May so I was just wondering they will send us any offer now or till first week of June
Deal Addict
Jul 1, 2006
1051 posts
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mkl38s wrote: Are the offers coming in while the old ones still not expired? We have 3% till end of May so I was just wondering they will send us any offer now or till first week of June
I'm in the same boat with 3% until the end of May... and am also curious to see if they will offer something before the end of the promo period.
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Apr 5, 2008
2748 posts
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Toronto
Moved my money out of Tangerine at the beginning of the year as my 2.8% expired and they said no more promo. Got notification for 2.5% from may 1 - sept 30.

Better than 2% for now.
Deal Addict
Nov 4, 2007
1865 posts
1262 upvotes
GTA
sckor wrote: I'm in the same boat with 3% until the end of May... and am also curious to see if they will offer something before the end of the promo period.
It would suck if you got a new offer before the old one expires and it only applies to new deposits.
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Jan 4, 2009
4191 posts
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on the links!
kasm wrote: It would suck if you got a new offer before the old one expires and it only applies to new deposits.
I cannot recall ever getting an unsolicited new promo from Tang while an existing one was still in effect.

I accepted an offer from them for 2.65% ending Jun30 and was planning to move funds over when my Simplii 2.8% rate expired. But then Simplii ended up extending me to Aug 31, so I'm not using the Tang offer. I don't expect another one from them until at least July.
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Jun 23, 2017
1510 posts
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Toronto, ON
asdisme wrote: Moved my money out of Tangerine at the beginning of the year as my 2.8% expired and they said no more promo. Got notification for 2.5% from may 1 - sept 30.

Better than 2% for now.
good point. 2% is the standard everyday I get from EQ bank and will shuffle funds towards or way from them based on who has better promo rate offer to me at the time.
Deal Fanatic
Jan 21, 2014
8518 posts
6261 upvotes
kasm wrote: It would suck if you got a new offer before the old one expires and it only applies to new deposits.
No, if they offer you new one while the old one is not expired yet, then it would be better rate than the old one for sure. It happened to us once before
Member
User avatar
Nov 2, 2004
297 posts
278 upvotes
I've got a 3.0% rate with Tangerine that ends May 31st. This is my first time taking a promo rate from Tangerine. What is my best move to get another offer ASAP? Do I move my money out 2 days before the end of the promo? I've also got a Simplii account opened and no offers from them yet either. Might have to move to that godawful B2B account I have...
Deal Expert
Jan 7, 2002
29711 posts
29132 upvotes
Waterloo, ON
Barker88 wrote: I've got a 3.0% rate with Tangerine that ends May 31st. This is my first time taking a promo rate from Tangerine. What is my best move to get another offer ASAP? Do I move my money out 2 days before the end of the promo? I've also got a Simplii account opened and no offers from them yet either. Might have to move to that godawful B2B account I have...
Call in a few days before 31May and ask to get a call back from their outbound marketing people. They'll call you back in a business day or two. Tell them that your promo is ending and you'd like to know what TING can offer to keep your money. Mention that others are offering 2% or more. Based on my experience as well as that of many posters on the other TING thread the outbound folks will offer 2.5% to 2.8% to end of August if not end of September. With rates now dropping, by end of May that may be a bit lower but should still be competitive. And your money earns high interest without the interruption or hassle of moving it. Of course if for some reason they won't offer you at least 2% you can then ask the agent to schedule a transfer out to another bank that will.
veni, vidi, Visa
Member
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Nov 2, 2004
297 posts
278 upvotes
bylo wrote: Call in a few days before 31May and ask to get a call back from their outbound marketing people. They'll call you back in a business day or two. Tell them that your promo is ending and you'd like to know what TING can offer to keep your money. Mention that others are offering 2% or more. Based on my experience as well as that of many posters on the other TING thread the outbound folks will offer 2.5% to 2.8% to end of August if not end of September. With rates now dropping, by end of May that may be a bit lower but should still be competitive. And your money earns high interest without the interruption or hassle of moving it. Of course if for some reason they won't offer you at least 2% you can then ask the agent to schedule a transfer out to another bank that will.
Thank you. I'll do exactly this.
Deal Fanatic
Jan 21, 2014
8518 posts
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I never call, just move my money out on the last day. Eventually they send me an offer with the new rate (almost every time except one time it was almost a month late offer). So I will pull my money from EQ on May 29 and see if I get another offer on June 3/4 time
Member
Jun 18, 2015
249 posts
1193 upvotes
Vancouver, BC
I just sold my condo and am still looking for a house to buy, so I'm living with my parents in the meantime. Could I put the money from the sale into my Tangerine Savings account (that I opened up for 2.8% earlier this month) and leave it there until I buy the house? My main banking is done with BMO, so I was thinking of transferring the money from BMO to TANG now, then when I buy the house (could be a month, 2, 6 months from now, who knows) and then transfer it back to BMO when it's time to do my mortgage? Are there any penalties? I couldn't find anything in TANG's legal.
Deal Expert
Jan 7, 2002
29711 posts
29132 upvotes
Waterloo, ON
screenthis wrote: I just sold my condo and am still looking for a house to buy, so I'm living with my parents in the meantime. Could I put the money from the sale into my Tangerine Savings account (that I opened up for 2.8% earlier this month) and leave it there until I buy the house? My main banking is done with BMO, so I was thinking of transferring the money from BMO to TANG now, then when I buy the house (could be a month, 2, 6 months from now, who knows) and then transfer it back to BMO when it's time to do my mortgage? Are there any penalties? I couldn't find anything in TANG's legal.
Yes re using TING. No re fees/penalties.

But keep in mind:
1. TING's 2.8% is valid only until end of Aug/Sep. You'll need to read the fine print to find out for sure when your promo ends.
2. TING's 2.8% is subject to a maximum, typically $500k or $1M. You'll need to read the fine print to find what your limit is.
3. Deposits are CDIC insured to a maximum of $100k. The chances of default are small--TING is owned by Scotiabank--but non-zero.
veni, vidi, Visa
Deal Addict
Oct 22, 2015
1678 posts
585 upvotes
mkl38s wrote: I never call, just move my money out on the last day. Eventually they send me an offer with the new rate (almost every time except one time it was almost a month late offer). So I will pull my money from EQ on May 29 and see if I get another offer on June 3/4 time
I normally have a gap of 1 month before they make a new offer. So if offer end may the next offer is beginning July
Member
User avatar
Nov 2, 2004
297 posts
278 upvotes
screenthis wrote: I just sold my condo and am still looking for a house to buy, so I'm living with my parents in the meantime. Could I put the money from the sale into my Tangerine Savings account (that I opened up for 2.8% earlier this month) and leave it there until I buy the house? My main banking is done with BMO, so I was thinking of transferring the money from BMO to TANG now, then when I buy the house (could be a month, 2, 6 months from now, who knows) and then transfer it back to BMO when it's time to do my mortgage? Are there any penalties? I couldn't find anything in TANG's legal.
I'm in the same situation. Sold my house January and currently renting until the right house comes along. Had my cash in Laurentian for the first 2 months for their 3.3% rate. Then transferred to Tangerine for their 3.0% that ends May 31st. End of May I'll move to whoever will give me the best rate and I'll repeat until it's time to buy a home again. There's no fee to do this. It's your money, do with it what you want.

And when your time comes to buy a house, I don't see any reason to transfer back to BMO unless you end up with a BMO mortgage. You'll definitely want to shop around and find the best rate. There's some great deals out there right now when it comes to mortgage rates.
Member
Apr 17, 2014
361 posts
217 upvotes
Calgary
mkl38s wrote: I never call, just move my money out on the last day. Eventually they send me an offer with the new rate (almost every time except one time it was almost a month late offer). So I will pull my money from EQ on May 29 and see if I get another offer on June 3/4 time
When you transfer the money out, do you do a push from Tangerine or a pull from the other bank?
My offer ends May 31 and I intend to move the money out shortly before that date. I heard if you do a push, Tangerine will notice and offer you another special interest.
Deal Fanatic
Jan 21, 2014
8518 posts
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YYC1978 wrote: When you transfer the money out, do you do a push from Tangerine or a pull from the other bank?
My offer ends May 31 and I intend to move the money out shortly before that date. I heard if you do a push, Tangerine will notice and offer you another special interest.
Didn't work for me last time. I didn't have it linked from Simplii side so I had to do a push. I called in and asked to transfer out, they offered me something less than 2.8% from Simplii so I said no. Then 4 weeks later, they offered me 3% (insight & email) so I pulled back the money from Simplii till now
Member
Jul 25, 2008
400 posts
274 upvotes
ottawa
Yeah, I'm pulling from EQ at the end of the month
Member
Apr 17, 2014
361 posts
217 upvotes
Calgary
mkl38s wrote: Didn't work for me last time. I didn't have it linked from Simplii side so I had to do a push. I called in and asked to transfer out, they offered me something less than 2.8% from Simplii so I said no. Then 4 weeks later, they offered me 3% (insight & email) so I pulled back the money from Simplii till now
Well, I will do the same.

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