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Tangerine

1 year non registered GIC at 4.85%, (not targeted offer, open to everyone, new or actual clients)

  • Last Updated:
  • Nov 2nd, 2022 12:33 am
Deal Expert
User avatar
Aug 6, 2001
17024 posts
4813 upvotes
Stuck in a Box
buymore4less wrote: Just adding some math for those waiting for higher rates in Sept.

Current 1 year = 4.50% vs. hold in savings account for 90 days and then lock in for 270 days at anticipated higher rates in Sept.

If you take 1.75% (bank rate) for 90 days and then get 5.00% (with an estimated 0.75% rate hike in Sept) for 270 days = you'll get 4.2% avg for the whole year

If 1.75% for 90 days and then 1 full year at 5.25% (est 0.75% above current 1 year rate) then Avg for the year is 4.38%

Both are slightly less than the 4.50% being offered for 1 year rates right now.
All subject to how much you think rates will rise in Sept and how long you are willing to lock in for.
Economy is too fragile at the moment. Not sure if we are going to see another .75. Too many variable mortgages out there, including myself.
[OP]
Penalty Box
Nov 21, 2013
8128 posts
9301 upvotes
Montréal
weedb0y wrote: Economy is too fragile at the moment. Not sure if we are going to see another .75. Too many variable mortgages out there, including myself.
This. Bank of Canada have to find a balance between inflation and recession....
Deal Expert
User avatar
Aug 6, 2001
17024 posts
4813 upvotes
Stuck in a Box
DoorCrasher wrote: This. Bank of Canada have to find a balance between inflation and recession....
The 1000+ unemployed from Shopify would agree at the moment.
Deal Addict
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Sep 18, 2004
1181 posts
465 upvotes
How do I transfer money to a tangerine account ?
Limits on e-transfer is too small
Deal Fanatic
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Dec 3, 2004
6953 posts
8813 upvotes
74629315 downvotes
Airbum88 wrote: How do I transfer money to a tangerine account ?
Limits on e-transfer is too small

You add an external bank account in tangerine and then you request a transfer. Tangerine will deposit 2 small amounts to your external account to confirm it. Then you are free to pull as much money as you want.
Deal Addict
Apr 7, 2011
1029 posts
661 upvotes
Toronto
otaknap wrote: damn. i went with the 180 day @ 3.25% already haha
You're lucky. I went with 2.4% for 270 days 2 months ago.....
Deal Expert
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Feb 8, 2014
27051 posts
11492 upvotes
Socially Distanced
SquadG wrote:
I've been buying a lot of REI.UN recently below $20... It will drop a bit more I think but I keep getting more. I might not do well on capital gains but the dividend are great.

TD Direct Investing has 4.06%, locked 1 year... But I tend to agree that 180 days is the best move if you want to maximize interests.
Where do you find this chart?
In fact in Rand McNally they wear hats on their feet and hamburgers eat people
Deal Addict
Oct 2, 2013
3096 posts
3466 upvotes
Montreal
Quentin5 wrote: Where do you find this chart?
The GIC rates in TD Direct Investing?
<no self promotion>
[OP]
Penalty Box
Nov 21, 2013
8128 posts
9301 upvotes
Montréal
Airbum88 wrote: How do I transfer money to a tangerine account ?
Limits on e-transfer is too small
As far as I know there is no limit on e-transfer? Never transferred large amount of cash, though, I am not that rich Winking Face
Deal Addict
Feb 14, 2019
1610 posts
2071 upvotes
DoorCrasher wrote: As far as I know there is no limit on e-transfer? Never transferred large amount of cash, though, I am not that rich Winking Face
There are limits. You can probably contact your bank to adjust them if they work the same as withdrawal limits.
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[OP]
Penalty Box
Nov 21, 2013
8128 posts
9301 upvotes
Montréal
Majokito wrote: There are limits. You can probably contact your bank to adjust them if they work the same as withdrawal limits.
Those are Interac e-transfers. Transfers between 2 different Banks are not manager by Interac, but by the banks themselves. I transferred $5K in one operation, and $5K the day after, and $5K on the 3rd day, way over the daily and monthly limit
Deal Addict
Feb 14, 2019
1610 posts
2071 upvotes
DoorCrasher wrote: Those are Interac e-transfers. Transfers between 2 different Banks are not manager by Interac, but by the banks themselves. I transferred $5K in one operation, and $5K the day after, and $5K on the 3rd day, way over the daily and monthly limit
You said e-transfer. You mean a bank to bank transfer then. No limits on those that I've ever hit but since it's between two institutions I would think any amount would work as long as the money is available in the account.
Deal Fanatic
User avatar
Sep 7, 2004
8044 posts
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West GTEH!
buymore4less wrote: Just adding some math for those waiting for higher rates in Sept.

Current 1 year = 4.50% vs. hold in savings account for 90 days and then lock in for 270 days at anticipated higher rates in Sept.

If you take 1.75% (bank rate) for 90 days and then get 5.00% (with an estimated 0.75% rate hike in Sept) for 270 days = you'll get 4.2% avg for the whole year

If 1.75% for 90 days and then 1 full year at 5.25% (est 0.75% above current 1 year rate) then Avg for the year is 4.38%

Both are slightly less than the 4.50% being offered for 1 year rates right now.
All subject to how much you think rates will rise in Sept and how long you are willing to lock in for.
Good points.

Or you can invest some money now into a GIC and then invest a little more after BOC Sept. meeting (if Interest GIC rates increase more). Sort of GIC laddering with different purchase dates.
😎
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User avatar
Jan 7, 2005
1616 posts
208 upvotes
Toronto
Majokito wrote: You said e-transfer. You mean a bank to bank transfer then. No limits on those that I've ever hit but since it's between two institutions I would think any amount would work as long as the money is available in the account.
Daily limit for transferring out of Tangerine to another bank is $25K (used to be $50K until recently). Not sure if incoming is the same, or if other institutions have similar limits.
Deal Addict
Jan 5, 2008
1318 posts
304 upvotes
HappyValley1 wrote: FYI. RBC offer 3.2% for 90 days. BMO offer 3.2% for one year term with 30 days cashable. If you don’t want to lock more than 31 days, you can try BMO.
I do not see the RBC 90 3.2% day rate posted just the 4% 1 yr rate. ? Is that something you need to call in the an RBC adviser to get? All my $$ is in RBC now so that would be ideal for me to go 90 days and then go to 1 yr if rate jumps to 5% in fall.
Deal Fanatic
Jan 21, 2014
7055 posts
4498 upvotes
NiMSo wrote: Daily limit for transferring out of Tangerine to another bank is $25K (used to be $50K until recently). Not sure if incoming is the same, or if other institutions have similar limits.
DIY limit only. Call in for larger amount
Deal Addict
Oct 4, 2006
3130 posts
2120 upvotes
Toronto
SquadG wrote: TD Direct Investing has 4.06%, locked 1 year... But I tend to agree that 180 days is the best move if you want to maximize interests.
It sucks that the GIC rates offered through TD Direct are lower than the same product offered directly from say Tangerine.
Not very convenient for those with a TDI account to have to buy outside (as the extra 0.5% is worth it).
But I suppose TDI has to make some money.
Deal Addict
Mar 27, 2003
1485 posts
865 upvotes
Vancouver
DoorCrasher wrote: This. Bank of Canada have to find a balance between inflation and recession....
BoC will likely continue chasing inflation with rate increases until our unemployment rate reverses.

If anything, I don't think the BoC's trying to prevent a recession, they're doing everything they can to manufacturing one. And whose to say we aren't already in one already.
[OP]
Penalty Box
Nov 21, 2013
8128 posts
9301 upvotes
Montréal
Airbum88 wrote: How do I transfer money to a tangerine account ?
Limits on e-transfer is too small
DoorCrasher wrote: As far as I know there is no limit on e-transfer? Never transferred large amount of cash, though, I am not that rich Winking Face
Majokito wrote: You said e-transfer. You mean a bank to bank transfer then. No limits on those that I've ever hit but since it's between two institutions I would think any amount would work as long as the money is available in the account.
The other asked for transfers between 2 banks. Since it's done by the user, it's e-transfer. Or am I wrong? And it's not managed by Interac, and no human intervention/interaction here, hence the E-transfer
Member
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Oct 25, 2014
282 posts
243 upvotes
Boswell, BC
DoorCrasher wrote: The other asked for transfers between 2 banks. Since it's done by the user, it's e-transfer. Or am I wrong? And it's not managed by Interac, and no human intervention/interaction here, hence the E-transfer
Use language how you like at the risk of people misunderstanding you. "e-Transfer" is a registered Canadian trademark of Interac Corp. Note that EFTs involving humans are still performed electronically.
Last edited by emma30 on Jul 29th, 2022 1:08 pm, edited 1 time in total.

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