Hot Deals

Tangerine

5.00% Interest rate for 5 months, up to $400 cashback for new customers

  • Last Updated:
  • Jan 31st, 2023 9:36 am
[OP]
Member
Sep 30, 2014
235 posts
311 upvotes
Montreal

[Tangerine] 5.00% Interest rate for 5 months, up to $400 cashback for new customers

Deal Link:
Expiry:
March 30, 2023
Retailer:
Tangerine
More offers from Tangerine
Seems like a different offer from this one which is targeted to existing customers.

This new offer is on the homepage for new customers. I registered and I got the 5% promo rate right away.

Current offer:
  • Earn 5.00% interest in your Savings Account for 5 months.
  • 20% cash back when you shop online or in-app for 60 days (up to a maximum cash back Bonus of $400).

With public promo code EARNMORE .

For client Number created between December 7, 2022 and March 30, 2023.

Please read full details and instructions on Tangerine website.
Last edited by machino4 on Dec 14th, 2022 8:37 pm, edited 2 times in total.
100 replies
Jr. Member
Nov 24, 2010
187 posts
303 upvotes
Toronto
machino4 wrote: Seems like a different offer from this one which is targeted to existing customers.

This new offer is on the homepage for new customers. I registered and I got the 5% promo rate right away.
I noticed that the offer requires the opening of both a Chequing and Savings account within 30 days of becoming a client.

Any idea as to why I would have to open both if I just want to put money into the Savings account?
[OP]
Member
Sep 30, 2014
235 posts
311 upvotes
Montreal
amadis wrote: I noticed that the offer requires the opening of both a Chequing and Savings account within 30 days of becoming a client.

Any idea as to why I would have to open both if I just want to put money into the Savings account?
It's part of the promotion for the $400 cashback. You probably need a chequing account to use the debit card.
I also have no plan to use it, but there is no fee associated to the chequing account.
Deal Addict
Dec 26, 2010
2291 posts
1411 upvotes
Kamloops, BC
Only online purchases(and bills) are allowed via Visa debit to get the cash back.
Can you just buy a $2000 Costco gift card?
Jr. Member
Jun 25, 2022
124 posts
276 upvotes
Will 5% intrest be deposited in bulk at end of promotion period? Or will it be deposited monthly?
Thanks
Sr. Member
Nov 21, 2007
518 posts
624 upvotes
Peterborough
GTAobserver wrote: Will 5% intrest be deposited in bulk at end of promotion period? Or will it be deposited monthly?
Thanks
Monthly.
Jr. Member
Sep 30, 2022
101 posts
234 upvotes
Will a TFSA still give me 5% interest? It shows 1% for me…
Jr. Member
Nov 14, 2020
148 posts
160 upvotes
H3c0w8
ssjlancer wrote: Only online purchases(and bills) are allowed via Visa debit to get the cash back.
Can you just buy a $2000 Costco gift card?
Yes, you can. Costco and Amazon gift cards work.
Member
User avatar
Jun 6, 2006
321 posts
217 upvotes
Acton
So, if I deposit $100,000 and hold it there for 5 months I get $5,000/month in interest?

I feel like I’m missing something on how it actually works.
Deal Addict
User avatar
Aug 19, 2011
3631 posts
2295 upvotes
West Coast
dubstarr wrote: So, if I deposit $100,000 and hold it there for 5 months I get $5,000/month in interest?

I feel like I’m missing something on how it actually works.
5% is the annual interest rate, so for your example you're making $416.67 monthly. That'd be 2,083.35 over 5 months.
Please don't ask or beg for "thanks". Don't act like this is Facebook. If someone found your post helpful, let them decide if they want to make that click. The more you beg, the less you'll get. Cheers
Jr. Member
Nov 14, 2020
148 posts
160 upvotes
H3c0w8
dubstarr wrote: So, if I deposit $100,000 and hold it there for 5 months I get $5,000/month in interest?

I feel like I’m missing something on how it actually works.
Haha, 5% is annually, so you need to divide by 12. But don't put too much money. There is a limit how much your deposit is insured :)
I think it's 100k, correct me if I am wrong.
Deal Fanatic
User avatar
Nov 14, 2003
5873 posts
4420 upvotes
LaLaLand
dubstarr wrote: So, if I deposit $100,000 and hold it there for 5 months I get $5,000/month in interest?

I feel like I’m missing something on how it actually works.
The 5% interest rate is annual. You would get approximately $2060 for a $100k deposit for five months.

The calculation is $100000 x .05/365 x number of days. Plus the following month you get the 5% on the interest paid out for the previous month - this is around $2 per month.
Jr. Member
Aug 13, 2016
135 posts
127 upvotes
Does anyone know the approx. cost to transfer large sum of cash to tangerine from rbc?
Jr. Member
Nov 14, 2020
148 posts
160 upvotes
H3c0w8
dealgetter91 wrote: Does anyone know the approx. cost to transfer large sum of cash to tangerine from rbc?
Most checking account is free to transfer to another checking. Just don't do it from saving to Tangerine directly.
Jr. Member
Nov 14, 2020
148 posts
160 upvotes
H3c0w8
mike20002019 wrote: You mean Costco shop card in the costco.ca website?
Yeah, most online charging would work. I used it to pay my Désjardin home insurance on the phone and it worked as well. Just don't use it with the machine/interac/ tapping.
Deal Addict
Nov 6, 2003
2366 posts
624 upvotes
VincentM44684 wrote: Most checking account is free to transfer to another checking. Just don't do it from saving to Tangerine directly.
Why "don't do it from saving to Tangerine directly." ? Is there a fee or other draw back ?

If Tangerine pulls money from my TD or RBC savings account, is there a fee ?

Top