Personal Finance

Thinking of opening a ScotiaBank Momentum plus HISA  then switching to tangerine (What HISA would you recommend?)

  • Last Updated:
  • Jul 29th, 2020 2:00 pm
[OP]
Jr. Member
Nov 2, 2017
190 posts
21 upvotes

Thinking of opening a ScotiaBank Momentum plus HISA  then switching to tangerine (What HISA would you recommend?)

Good Afternoon,

Title says it all, I want to open a High Interest Savings Account and deposit 100k in there.

I am considering the Scotiabank Momentum plus @ 2.7% tiered, then when they stop offering 2.7, I will then switch to Tangerine HISA 2.5% .

What would you recommend?

Thanks and have a great day!
3 replies
Member
Jul 7, 2020
372 posts
195 upvotes
Tangerine's current rate is only a promotional rate that will last until the end of September.
Deal Addict
Oct 27, 2012
2765 posts
4514 upvotes
Toronto
Scotia's promo is BS. You need to lock in the money for a year to get that 2.7% rate for the promotional period which ends August 31st, the remainder of the time after the promo you don't get the bonus, so it is not actually possible to achieve the 2.7% rate even if you keep the money there for the full year.
Deal Guru
Aug 26, 2002
14990 posts
6535 upvotes
Toronto, ON
I've been a long time Tangerine customer but I've finally taken the steps to move my money out of Tangerine where it was earning a dismal 0.25%. I moved the money to EQ Bank where it is earning 2.0% (not promotional rate).

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