Personal Finance

Tangerine/EQ/Simpli/Oaken which is the best/easiest to deal with for TFSA GIC’s?

  • Last Updated:
  • Dec 16th, 2018 3:00 pm
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[OP]
Jr. Member
Sep 22, 2007
145 posts
64 upvotes

Tangerine/EQ/Simpli/Oaken which is the best/easiest to deal with for TFSA GIC’s?

As per the title, which is the best or worst to deal with? Looking at opening a 1 year 3.1% GIC in a TFSA.
16 replies
Sr. Member
Nov 6, 2015
898 posts
503 upvotes
Guelph, ON
I just bought a 1 year 3.25% RRSP GIC at tangerine through the website. Their Fischer-Price interface is a little unintuitive but still only took a few minutes. It's not clear if you have a preferred method of "dealing" with your financial companies, i.e. web, app, phone, etc. Whenever I can I do everything online.
[OP]
Jr. Member
Sep 22, 2007
145 posts
64 upvotes
JoeBlack23 wrote: I just bought a 1 year 3.25% RRSP GIC at tangerine through the website. Their Fischer-Price interface is a little unintuitive but still only took a few minutes. It's not clear if you have a preferred method of "dealing" with your financial companies, i.e. web, app, phone, etc. Whenever I can I do everything online.
Yeah I would prefer phone app or the web, hate the hassle to have to call and talk to someone
Newbie
Aug 26, 2013
72 posts
31 upvotes
Oakville
In terms of the best deal... All of your financial answers in one convenient website... https://www.ratehub.ca
In terms of best/easiest to deal with... I find that these days, sadly, good quality "customer service" (online, over-the-phone, or in-person) is essentially non-existent... So, in my opinion, there isn't one in particular that is the best - It really is hit-and-miss... They all have their positives, and unfortunately many of them also have negatives... That is why I typically choose to bank my money where I get the best return on my investment, PERIOD...
Anyway - For what it's worth - That's just my opinion... BIG SMILES... /G
Jr. Member
Oct 21, 2018
131 posts
40 upvotes
Hubert are nice on phone and offer 2.95 for one year gic that is redeemable every 3 months without losing interest. Tfsa eligible
Deal Addict
User avatar
Dec 3, 2017
2425 posts
2033 upvotes
K-W/Guelph
I like DUCA's GICs they're usually pretty good.
DUCA credit union member
Sr. Member
Jan 3, 2013
739 posts
295 upvotes
Mississauga
barter2007 wrote: Looking at opening a 1 year 3.1% GIC in a TFSA.
I aIm also thinking of opening a 1yr 3.1% GIC TFSA at Tangerine because I already have accounts with them and also a regular TFSA.
Deal Addict
User avatar
Jul 13, 2014
4158 posts
1612 upvotes
Parry Sound
People still use GICs? Do people still buy 2-4% MER mutual funds as well?

Lol
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[OP]
Jr. Member
Sep 22, 2007
145 posts
64 upvotes
MayorOfToronto wrote: People still use GICs? Do people still buy 2-4% MER mutual funds as well?

Lol
How is that funny. Yes a lot of people use still use GIC’s, excellent short term option for people with a low (no risk) risk tolerance.
Deal Fanatic
Aug 5, 2006
5456 posts
2649 upvotes
Global Village
I deal with all 4, Oaken incredibly doesn't offer a TFSA savings account so after 1 year you'd have to either auto-renew the GIC for another term or withdraw/transfer the $, not convenient at all. EQ is TFSA-less so if you have to choose between Tangerine and Simplii with both at the same rate I'd go with Tangerine (I find them easier to deal with) although I would be patient in January, I expect we'll see some banks offer 3.2%+ 1 year GIC offers for TFSA by mid Jan. Take a look at Meridian also then.
All day I dream about sports
Deal Addict
Oct 8, 2012
1522 posts
573 upvotes
TBD
Steinbach CU, regular TSFA account offers 2.9% much better option compared to locking into a GIC for a small amount more.
Jr. Member
Oct 21, 2018
131 posts
40 upvotes
kevdanga wrote: Steinbach CU, regular TSFA account offers 2.9% much better option compared to locking into a GIC for a small amount more.
For how long?
Jr. Member
Oct 21, 2018
131 posts
40 upvotes
MayorOfToronto wrote: People still use GICs? Do people still buy 2-4% MER mutual funds as well?

Lol
What's better than gic's? Stocks are going to have low returns like everything thing else. 30 yr bonds yield 2.4%.
Deal Addict
Oct 8, 2012
1522 posts
573 upvotes
TBD
JeffH60919 wrote: For how long?
Indefinitely, with rising BOC rates it may even be raised at some point in 2019.

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