[Tangerine Savings] NEW - YMMV - Earn 2.00% interest* on deposits to your Savings Account(s) until March 31, 2021.

General:

The Tangerine Bank (the “Bank”) Savings Interest Offer of 2.00% (the “Offer”) is available to existing Tangerine Clients who: (1) receive a communication about the Offer directly from the Bank (“Eligible Clients”) (2) “Activate” (as defined in Section 4 below) the Offer by November 30, 2020 and (3) receive a Confirmation in their online Inbox that the Offer has been successfully activated.

The Offer is only available to Eligible Clients between November 4, 2020 and March 31, 2021 (the “Offer Period”). If the Offer is not Activated between November 4, 2020 and November 30, 2020, Tangerine Clients will not be eligible for the Offer and will not receive Promotional Interest.

The Offer is only applicable to Tangerine Savings Accounts (“Savings”), Tangerine Tax-Free Savings Accounts (“TFSA Savings”), Tangerine RSP Savings Accounts (“RSP Savings”), Tangerine US$ Savings Accounts (“US$ Savings) (referred to collectively as “Applicable Accounts”) where the Eligible Client is the Primary Account Holder as described in Section 13 below. Multiple Applicable Accounts of the same type (for example, 3 separate TFSA Savings Accounts) are collectively defined as an “Applicable Account Type”. The Offer is not applicable to any other Accounts, including (but not limited to) Tangerine RIF Savings Accounts (“RIF Savings”) Tangerine Business Savings Accounts, Tangerine US$ Business Savings Accounts, or Tangerine Children’s Savings Accounts (“CSA”).

To “Activate” the Offer, the Client needs to perform one of the following actions by November 30, 2020:

Click the ‘Activate Now’ button in the Offer email that the Client has received directly from the Bank; or
Click the ‘Activate Now’ button on Tangerine’s website once the Client has logged in; or
Open an Applicable Account; or
Accept the Offer through the Tangerine Interactive Voice Response System.
“Promotional Interest” is the interest earned on Eligible Deposits made to Applicable Accounts each day during the Offer Period. “Eligible Deposits” for any day during the Offer Period is the excess of (i) the sum of end-of-day balances in all Applicable Accounts per Applicable Account Type (excluding Promotional Interest) over (ii) the sum of end-of-day balances in all Applicable Accounts per Applicable Account Type as at November 3, 2020, to a maximum of $1,000,000†, subject to the exclusions in Section 10 below.


Promotional Interest:

A Promotional Interest rate of 2.00% will apply to Eligible Deposits under this Offer. Eligible Clients will receive Promotional Interest in two separate interest payments - (1) interest calculated at the Posted Rate, (2) an additional interest payment that represents the excess of Promotional Interest over Posted Rate interest (“additional interest”). For clarity, Promotional Interest equals the sum of Posted Rate interest and additional interest. Payment of additional interest will be made to the Applicable Account at the start of the month following the month in which it was calculated. The Posted Rate may change at any time without prior notice, resulting in a corresponding change to the additional interest rate so that the Promotional Interest rate remains unchanged. Notwithstanding the above, the Bank may change the Promotional Interest rate at any time without prior notice.


† For US$ Savings Accounts, the maximum Eligible Deposit amount is $1,000,000 USD.