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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 Addict
Oct 18, 2014
3835 posts
3698 upvotes
Oakville, ON
DoorCrasher wrote: you have to do the math comparing what you'll lose with what you'll earn extra...
Ya probably not worth it… do you expect the rates to rise annually with next boc interest hike ? Interesting they upped it just two weeks prior… meaning probably another bump come first week of sept is my thinking
[OP]
Penalty Box
Nov 21, 2013
8128 posts
9301 upvotes
Montréal
mrfrugal83 wrote: Ya probably not worth it… do you expect the rates to rise annually with next boc interest hike ? Interesting they upped it just two weeks prior… meaning probably another bump come first week of sept is my thinking
I do expect rates to raise, but who knows? If you look at post /1, some of the terms have lower rates than when posted... they curiously lowered some of the terems, and raised others...
Deal Addict
Oct 18, 2014
3835 posts
3698 upvotes
Oakville, ON
DoorCrasher wrote: I do expect rates to raise, but who knows? If you look at post /1, some of the terms have lower rates than when posted... they curiously lowered some of the terems, and raised others...
They want you at least minimum locked in a year and playing the gambit lower to not take advantage
Deal Addict
Oct 4, 2006
3120 posts
2114 upvotes
Toronto
DoorCrasher wrote: I do expect rates to raise, but who knows? If you look at post /1, some of the terms have lower rates than when posted... they curiously lowered some of the terems, and raised others...
I wonder if Tangerine has already factored in the anticipated hike in September.

One report thinks least 50 to 75 basis points…leaning towards 75.
[OP]
Penalty Box
Nov 21, 2013
8128 posts
9301 upvotes
Montréal
blindemboss wrote: I wonder if Tangerine has already factored in the anticipated hike in September.

One report thinks least 50 to 75 basis points…leaning towards 75.
No one knows, but since they lowered the rates for some of the offered terms, my guess would be... no
Deal Fanatic
User avatar
Sep 7, 2004
8005 posts
4891 upvotes
West GTEH!
Ting is really upping the game for 1 YR GIC before the next BOC meeting.
I'll be on the fence until the meeting happens.
😎
Deal Addict
Jan 31, 2018
1113 posts
1969 upvotes
Winnipeg
DoorCrasher wrote: No one knows, but since they lowered the rates for some of the offered terms, my guess would be... no
This doesn't necessarily follow. Remember that they don't just have to factor what happens this September, but also have to factor what happens all the way through to September 2027.

For them it's a game of chicken between securing customers, how far rates are going to go up in the short term, and the inevitable future downturn.
Newbie
Aug 24, 2016
44 posts
58 upvotes
NakedAngel wrote: You write yourself a cheque, then take a photo with the tangerine app. They will start giving you the interest rate the day you take the photo, money won't "actually" be in there till it clears of course.
It doesn't start collecting interest for 5 days. I did this last year with $20k and it clearly stated the date that I would start getting interest on the amount I just deposited.
Deal Addict
Oct 4, 2009
3326 posts
2539 upvotes
Montreal
StevenK330486 wrote: It doesn't start collecting interest for 5 days. I did this last year with $20k and it clearly stated the date that I would start getting interest on the amount I just deposited.
That’s incorrect. Starts earning interest immediately. The date provided is when the funds become available, i.e. no longer held.
Deal Fanatic
Jul 26, 2007
6781 posts
4350 upvotes
Toronto
StevenK330486 wrote: It doesn't start collecting interest for 5 days. I did this last year with $20k and it clearly stated the date that I would start getting interest on the amount I just deposited.
Where does it say that?

When I did my deposit, the system let me put all the monies that's on hold into a GIC. The 5 days hold was in GIC instead.

I can understand they being stingy with 0.1% in regular savings account by not giving interest during 5 days hold period.
[OP]
Penalty Box
Nov 21, 2013
8128 posts
9301 upvotes
Montréal
OneAndTrueHeir wrote: This doesn't necessarily follow. Remember that they don't just have to factor what happens this September, but also have to factor what happens all the way through to September 2027.

For them it's a game of chicken between securing customers, how far rates are going to go up in the short term, and the inevitable future downturn.
Exact. they take into consideration multiple factors to establish their rates. Not only BOC rate. Not because BOC rates will raise that savings rates will raise as well. Or raise of the same %...
Deal Addict
Jan 31, 2018
1113 posts
1969 upvotes
Winnipeg
DoorCrasher wrote: Exact. they take into consideration multiple factors to establish their rates. Not only BOC rate. Not because BOC rates will raise that savings rates will raise as well. Or raise of the same %...
Ah, I see your point. I misread your post, and we're totally on the same page.
Newbie
Aug 24, 2016
44 posts
58 upvotes
S5 wrote: That’s incorrect. Starts earning interest immediately. The date provided is when the funds become available, i.e. no longer held.
Are you 100% sure about that? If you are I won't argue because I don't know.
peteryorkuca wrote: Where does it say that?

When I did my deposit, the system let me put all the monies that's on hold into a GIC. The 5 days hold was in GIC instead.

I can understand they being stingy with 0.1% in regular savings account by not giving interest during 5 days hold period.
Yes, I did the same thing. Deposited cheque into chequings account ($5k at the time) then moved everything ($25k) into savings. On the app I clicked >>savings >> account details >> notice. It said $6000 available now, $19k available (collect interest) September 12th.

So I figured it would only be collecting interest after September 12th. But as I said to the other guy, I'm not sure. I'll see if I can pull last year's statements to check.
Deal Addict
Oct 4, 2009
3326 posts
2539 upvotes
Montreal
StevenK330486 wrote: Are you 100% sure about that? If you are I won't argue because I don't know.
Yes. I’ve deposited many cheques and have kept substantial sums there so I have lots of reasons to keep track of their interest calculations.
Jr. Member
Jul 5, 2017
180 posts
133 upvotes
Wow 4.7% 1 year TFSA... that is really tempting now. I think I'll wait until Sept BoC to see if that creeps up any higher, and if not I will take it. Worth the wait up until this point.
Deal Fanatic
Aug 5, 2006
8844 posts
5841 upvotes
Global Village
jadoogar wrote: Tangerine has bumped up their 1 year rate to 4.6%, see other rates in attached snip.
ovaltene wrote: Wow 4.7% 1 year TFSA... that is really tempting now. I think I'll wait until Sept BoC to see if that creeps up any higher, and if not I will take it. Worth the wait up until this point.

Damn. I was thinking that with CA inflation going down these banks would start lowering their GIC rates like Oaken is doing. Very tempting...
All day I dream about sports

My Banks: Tangerine, Meridian, EQ Bank, Simplii
Deal Addict
Jun 4, 2012
4990 posts
4427 upvotes
RoyZ71425 wrote: Where did you see 1 year 4.7%? Is it targeted?
Think this is for Registered accounts only.

Eg. RRSP, TFSA, etc
Deal Addict
User avatar
Sep 18, 2004
1180 posts
465 upvotes
Should we wait till sept to see where the rates go?

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