Expired Hot Deals

[Motus Bank] $150 to get a loan at the new motus bank / 3.09 % mortgate rate [YMMV?]

  • Last Updated:
  • Apr 2nd, 2019 11:21 am
[OP]
Member
Apr 10, 2017
418 posts
162 upvotes
Toronto

$150 to get a loan at the new motus bank / 3.09 % mortgate rate [YMMV?]

Deal Link:
Savings:
$150
Expiry:
April 30, 2019
Retailer:
Motus Bank
So just got this email from Motus. The new branch from Meridian.

Mortgate rate doesnt seem to expire but the $150 for loan expires on April 30. Not sure if this is for everyone or just who signed up early. So YMMV

You’ve been super patient, and we love you for it. Because you signed up early, we want to make sure that you’re first to hear our launch news. Oh, and that unreal mortgage rate we mentioned? It’s time to let you in on that too.

But first things first. Peep these sweet deals.

$150 loan offer*, just for keeners like you.

Get paid to borrow. True fact. Apply and be approved for a motusbank personal loan by April 30th, and we’ll help you start paying it back by giving you $150. No strings attached.



No-fee chequing, worth checking out.

This chequing account is everything you need for everyday banking, buying, debiting and free e-transferring. And it costs zero dollars a month. No limited-time-giveth-small-print-taketh-away nonsense. Just an awesome account. Get on it.



We’re here to help you save the heck out of your money.

Earn 2.50% with a tax-free savings account (TFSA) and feel super savvy. The government says you can contribute up to $6,000 in 2019, so why wouldn’t you? Our regular awesome everyday savings account also tops the charts at 2.25%.



A mortgage rate you can brag about.

Did we mention that we’d have an incredibly low mortgage rate at launch? We think you’ll dig this.

3.09% for a closed mortgage. How long? You pick. 1, 2, 3, 4 or 5-year fixed. Is your Magic 8-Ball saying it isn’t time to lock in? We have a 3.09% 5-year variable rate as well. BTW, our regulators asked us to tell you that the APR is 3.11%** on the 5 year terms.

Happy home hunting, friend.



Ready to get your investment on?

Earn 3.10% on an 18-month RRSP GIC. A smart, easy way to save on a minimum investment of as little as $100. How cool is that?



Don’t miss out, motusbanker. The $150 personal loan offer is valid until April 30th, and our mortgage launch rate won’t last forever (otherwise it wouldn't be a launch offer, it’d just be, you know, an offer).

Remember, that special personal loan offer is only for prelaunch signer-uppers like you. No sharsies. And be sure to use the same email you signed up with when you apply for your motusbank loan, so we know you were with us before it was cool.

Now that motusbank is live, we’re looking forward to getting to know you a little better, and for you to get to know us. Visit us at motusbank.ca for all the info. Drop us a line if you’d like to chat. And don’t forget to follow, hit likes and smash subscribe buttons on social.


T&C for loans.

This offer is available to new members of motusbank until April 30, 2019. Eligible new members can receive $150.00 when they apply and are approved for a motusbank unsecured loan in the amount of $5000.00 or more by April 30, 2019. The terms and conditions of this offer are as follows:

1. This offer is only available to new motusbank members who opted into pre-launch communications from motusbank, received a promotional email directly from motusbank informing them of this incentive offer and who used the same email address when applying for their first motusbank unsecured loan that was used when they opted into pre-launch communications.

2. Eligible recipients must reside in Canada and be the age of majority in the province in which they reside. To be eligible to receive the offers, the eligible recipient must have applied for their first motusbank unsecured loan and have been accepted as a member.

3. To be eligible for the $150.00 unsecured loan: Eligible recipients must use the link provided in the promotional email they received to access and fully complete the unsecured loan application. In order to receive the $150.00, the eligible recipient must have been approved and have been funded for an unsecured loan for an amount not less than $5000.00 prior to April 30, 2019.

4. The awarded funds will be a one-time payment made by June 26, 2019 once we have had the opportunity to verify the loan, any required qualifying activity and your eligibility. The awarded funds are funds credited by motusbank to the motusbank member’s loan in the eligible recipient’s name opened or obtained by the recipient, up to an amount of $150.00.

5. Recipients must accept the offer in the form that it is awarded; no substitutes are permitted.

6. Redemption is limited to one offer per person (or one offer per unsecured loan). The maximum incentive available is $150.00 should a member meet the eligibility requirement. This offer is non- transferable and cannot be combined with any other offer.

7. Except as may be set out in these Terms and Conditions, all terms and conditions applicable to the account held with motusbank are not amended by these Terms and Conditions and continue to apply during and after the offer period.

8. This is a limited time offer that cannot be combined with any other offer. The terms of this offer, including the overall availability of this offer, are subject to the absolute discretion of motusbank and may be changed at any time by motusbank without further notice to you. motusbank reserves the right to withdraw this offer any time, without further notice.
Thread Summary
Please do not share/Forward links.
Only for members who signed up with Motus before launch
Need to sign up for offers using the email that you originally used to sign up.
Read T&C for $5K Loans.
10 replies
Sr. Member
User avatar
Jul 5, 2013
966 posts
1483 upvotes
Saint John
Assuming you borrow $5,000 for one year and luckily get the lowest rate, you will have to pay $5,154.36 totally.
Jr. Member
Oct 21, 2017
172 posts
104 upvotes
I haven't taken out a loan like this before. Am I able to borrow 5k, pay it back the next day, and pay interest on 1 day while getting $150?
AT&T 25GB
Deal Addict
User avatar
May 21, 2014
1526 posts
2600 upvotes
Calgary, AB
I hope you are not taking a lone for all the hot deals....;)
Last edited by Mahawka on Apr 1st, 2019 10:40 pm, edited 1 time in total.
Pro tip - If you can't stop thinking about it ....BUY IT !
[OP]
Member
Apr 10, 2017
418 posts
162 upvotes
Toronto
demon1102 wrote: Assuming you borrow $5,000 for one year and luckily get the lowest rate, you will have to pay $5,154.36 totally.
This is assuming you keep the loan open for a year?
Pretty sure unsecured loans are open and can be paid back at any time.
[OP]
Member
Apr 10, 2017
418 posts
162 upvotes
Toronto
sirvar wrote: I haven't taken out a loan like this before. Am I able to borrow 5k, pay it back the next day, and pay interest on 1 day while getting $150?
As long as its an open loan. Yes.
[OP]
Member
Apr 10, 2017
418 posts
162 upvotes
Toronto
Mahawka wrote: I hope you are not taking alone for all the hot deals....;)
I dont understand what this sentence means. Unclear ;-)
Deal Addict
Nov 19, 2010
2058 posts
750 upvotes
burlington, on
Can anyone with financial experiance comment the mortgage? I misses the 1.98% 2 years fix rate and i think this is the lowest, right?but I also heard rates are going lower,should I wait? Thanks
Deal Addict
User avatar
Jun 10, 2011
4072 posts
1394 upvotes
cayolargo wrote: Can anyone with financial experiance comment the mortgage? I misses the 1.98% 2 years fix rate and i think this is the lowest, right?but I also heard rates are going lower,should I wait? Thanks
it depends what you want, but if you're looking at fixed rates, 2 years and 5 years can be found at 2.94%
Deal Addict
Nov 19, 2010
2058 posts
750 upvotes
burlington, on
def47 wrote: it depends what you want, but if you're looking at fixed rates, 2 years and 5 years can be found at 2.94%
2.94? Where? My 5 years mortgage need be renewed in 4 months and I'm shopping around. Right now i have 2.99% and it was fix rate for 5 years
Deal Addict
User avatar
Jun 10, 2011
4072 posts
1394 upvotes
cayolargo wrote: 2.94? Where? My 5 years mortgage need be renewed in 4 months and I'm shopping around. Right now i have 2.99% and it was fix rate for 5 years
ask any broker.. (TrueNorthMortgage.ca for example)
but start looking for your rate in a month or so.. you can usually lock in a rate, when there's 3 months left before renewal. so I wouldn't bother looking before that.

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