Do you have any insider knowledge or is it just a hunch?optionable68 wrote:Just cleared out all my Tangerine 2.95% cash for the last 2 weeks of the month, as I expect them to offer a new deal for "new money" sometime within the next 2-3 weeks
High interest rates for savings, GICs and MMFs (2016)
Re: High interest rates for savings, GICs and MMFs (2016)
Re: High interest rates for savings, GICs and MMFs (2016)
All PCF is doing right now in their regular account is offering a continuation to Mar 31, 2017 of the existing 2.25% offer...except it is 1.5% and one has to register. I doubt a better offer is coming since they also have a 2.25% offer for TFSA money for the same period of time. They'd rather attract TFSA money since it tends to stick a bit better when the bonus goes away.ig17 wrote:Do you have any insider knowledge or is it just a hunch?optionable68 wrote:Just cleared out all my Tangerine 2.95% cash for the last 2 weeks of the month, as I expect them to offer a new deal for "new money" sometime within the next 2-3 weeks
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Re: High interest rates for savings, GICs and MMFs (2016)
I am not sure why you brought up PCF. optionable68 wrote that he expects a new deal at Tangerine. And that's what I asked him to clarify. Is it just a hunch or is it something more substantial?AltaRed wrote:All PCF is doing right now in their regular account is offering a continuation to Mar 31, 2017 of the existing 2.25% offer...except it is 1.5% and one has to register. I doubt a better offer is coming since they also have a 2.25% offer for TFSA money for the same period of time. They'd rather attract TFSA money since it tends to stick a bit better when the bonus goes away.ig17 wrote:Do you have any insider knowledge or is it just a hunch?optionable68 wrote:Just cleared out all my Tangerine 2.95% cash for the last 2 weeks of the month, as I expect them to offer a new deal for "new money" sometime within the next 2-3 weeks
Re: High interest rates for savings, GICs and MMFs (2016)
That was a wrong post quote, i.e. mishandling of what my intention was to 'add' information to your post where you saidig17 wrote:I am not sure why you brought up PCF. optionable68 wrote that he expects a new deal at Tangerine. And that's what I asked him to clarify. Is it just a hunch or is it something more substantial?
I agree it has nothing to do with optionable's post. Mea culpa. That said, Tangerine really needs to fall into line with the competition in the 1.5-1.7% range eventually. Their asset base is too big to be paying non-competitive interest rates.Moving to PCF on Monday. 2.25% until January and then we shall see.
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Re: High interest rates for savings, GICs and MMFs (2016)
Hmm.ig17 wrote:YMMV is right. I have 2.5% expiring on Sunday. I called today and ask for an extension. Their best offer was 1.6% for 90 days. They refused to go higher even though I made it clear that 1.6% is not good enough and that I would transfer the entire balance out. And yes, I've been with them for 10+ years. 6 figures in HISA.Descartes wrote:Renewed Tangerine rate at 2% for 90 days today. It was previously 2.5% (I didn't call again when I heard some were getting 3%).
I don't know what criteria they use. I've been with them for about 10 years. 6 figures in HISA. YMMV, clearly.
Other factors that may be at play:
- when asked what would I do if they could not provide the rate I wanted, I said I would reluctantly move to EQ bank which still has 2%.
- I've never moved my money despite past threats so it has been six figures in the HISA for a while.
- early this year I closed my RRSP account with them when they would not play ball there so perhaps they know I would follow through.
- I've had their mastercard for about a year now and it has become my primary card so there is a big spend there.
..oh, and we sacrificed that chicken on the altar of Mammon before I called.
Moving out is probably the best move for you.
Tangerine might have another offer for new accounts shortly.
Not sure about PCF though. Why not EQ?
"A dividend is a dictate of management. A capital gain is a whim of the market."
Re: High interest rates for savings, GICs and MMFs (2016)
my Tangerine 2.4% just expired.
called them and they gave me 2% for 90 days.
Will phone again when that expires.
called them and they gave me 2% for 90 days.
Will phone again when that expires.
Re: High interest rates for savings, GICs and MMFs (2016)
They asked me the same question. I said I would move the entire balance to PCF (2.25%) or/and EQ (2%).Descartes wrote:Hmm.ig17 wrote:YMMV is right. I have 2.5% expiring on Sunday. I called today and ask for an extension. Their best offer was 1.6% for 90 days. They refused to go higher even though I made it clear that 1.6% is not good enough and that I would transfer the entire balance out. And yes, I've been with them for 10+ years. 6 figures in HISA.Descartes wrote:Renewed Tangerine rate at 2% for 90 days today. It was previously 2.5% (I didn't call again when I heard some were getting 3%).
I don't know what criteria they use. I've been with them for about 10 years. 6 figures in HISA. YMMV, clearly.
Other factors that may be at play:
- when asked what would I do if they could not provide the rate I wanted, I said I would reluctantly move to EQ bank which still has 2%.
I emptied our HISAs back in Sept when they wouldn't give me more than 2% while PCF was offering 2.25%. A few days later Tangerine offered 2.5% to get my money back.- early this year I closed my RRSP account with them when they would not play ball there so perhaps they know I would follow through.
Mystery solved!..oh, and we sacrificed that chicken on the altar of Mammon before I called.
Yes, that's another option.Not sure about PCF though. Why not EQ?
Re: High interest rates for savings, GICs and MMFs (2016)
The same old song and dance. Ho Hum. Yes sir, no sir 3 bags full sir. See what happens when mine expires between Christmas and New Year.
" A verbal contract isn't worth the paper it is written on " Samuel Goldwyn
"The light at the end of the tunnel may be a freight train coming your way" Metallica - No Leaf Clover
"The light at the end of the tunnel may be a freight train coming your way" Metallica - No Leaf Clover
Re: High interest rates for savings, GICs and MMFs (2016)
Best I was offered was 1.6martinv wrote:my Tangerine 2.4% just expired.
called them and they gave me 2% for 90 days.
Will phone again when that expires.
They then moved over 100 k to my bank.
As soon as it arrives it is off to Ideal Savongs for 2.5% till the end of 2017.
"And the days that I keep my gratitude higher than my expectations, well, I have really good days" RW Hubbard
Re: High interest rates for savings, GICs and MMFs (2016)
Are you sure it's 1.5%? I wonder if it varies by customer, because they're giving me 2.25% continued.AltaRed wrote:All PCF is doing right now in their regular account is offering a continuation to Mar 31, 2017 of the existing 2.25% offer...except it is 1.5% and one has to register. I doubt a better offer is coming since they also have a 2.25% offer for TFSA money for the same period of time. They'd rather attract TFSA money since it tends to stick a bit better when the bonus goes away.ig17 wrote:Do you have any insider knowledge or is it just a hunch?optionable68 wrote:Just cleared out all my Tangerine 2.95% cash for the last 2 weeks of the month, as I expect them to offer a new deal for "new money" sometime within the next 2-3 weeks
Re: High interest rates for savings, GICs and MMFs (2016)
It would be for me for their regular interest savings accounts through Mar 31 and 2.25% for TFSAs.Spudd wrote:Are you sure it's 1.5%? I wonder if it varies by customer, because they're giving me 2.25% continued.
I understand there have been a few reports of people (like you) being offered 2.25% on their regular accounts, in which case some customers are more special than others. They actually phoned me to ask if I wanted to enroll at 1.5% and I said I could do better elsewhere and left it at that.
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Re: High interest rates for savings, GICs and MMFs (2016)
I have 200k sitting at .8 or lower as my cash/fixed income portion. Want to make it work harder. Was thinking HISA+XSB+VSB, maybe corp bond ETF.
Could you offer some views on chasing HISAs vs bond ETFs ? I am even open to defensive stocks suggestions, but very cautious with market so high.
Any recommendations are more than welcome, Thank you
Could you offer some views on chasing HISAs vs bond ETFs ? I am even open to defensive stocks suggestions, but very cautious with market so high.
Any recommendations are more than welcome, Thank you
Re: High interest rates for savings, GICs and MMFs (2016)
I hate that the banks (both PC and Tang) are doing this now. It's so frustrating. I got the long end of the stick at PC this time, but the short end at Tang on their last promo. I hope they don't find this a winning strategy, because that means they'll just keep on doing it.AltaRed wrote:It would be for me for their regular interest savings accounts through Mar 31 and 2.25% for TFSAs.Spudd wrote:Are you sure it's 1.5%? I wonder if it varies by customer, because they're giving me 2.25% continued.
I understand there have been a few reports of people (like you) being offered 2.25% on their regular accounts, in which case some customers are more special than others. They actually phoned me to ask if I wanted to enroll at 1.5% and I said I could do better elsewhere and left it at that.
Re: High interest rates for savings, GICs and MMFs (2016)
Unless you applied during the short period they offered it, that rate is long gone.deaddog wrote:Best I was offered was 1.6
They then moved over 100 k to my bank.
As soon as it arrives it is off to Ideal Savongs for 2.5% till the end of 2017.
It's all the way down to 1.75% now.
Re: High interest rates for savings, GICs and MMFs (2016)
I know it's a long shot but is there any hope at all in the foreseeable future that BoC raises interest rates? The U.S. Fed just did a 1/4 point and Trump wants to "normalize" rates over time. BoC says US government actions don't matter but when they raised their rate our dollar took a hit. I think that someone will need to manage our dollar to make sure it doesn't become too weak. Sigh.
Re: High interest rates for savings, GICs and MMFs (2016)
I checked when the promotion wording changed to "initial deposit" and I opened my account early enough to get 2.5% on all deposits guaranteed through Dec 2017.Koogie wrote:
Unless you applied during the short period they offered it, that rate is long gone.
It's all the way down to 1.75% now.
I have that in writing if e-mail counts.
"And the days that I keep my gratitude higher than my expectations, well, I have really good days" RW Hubbard
Re: High interest rates for savings, GICs and MMFs (2016)
It should !deaddog wrote:I checked when the promotion wording changed to "initial deposit" and I opened my account early enough to get 2.5% on all deposits guaranteed through Dec 2017.Koogie wrote: Unless you applied during the short period they offered it, that rate is long gone.
It's all the way down to 1.75% now.
I have that in writing if e-mail counts.
- optionable68
- Veteran Contributor
- Posts: 1919
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Re: High interest rates for savings, GICs and MMFs (2016)
Just a guess. No inside information at all.ig17 wrote:Do you have any insider knowledge or is it just a hunch?optionable68 wrote:Just cleared out all my Tangerine 2.95% cash for the last 2 weeks of the month, as I expect them to offer a new deal for "new money" sometime within the next 2-3 weeks
3-time winner of FWF Annual Stock Market Predictions contest
Re: High interest rates for savings, GICs and MMFs (2016)
Interesting conversation in RFD re latest negotiated rates @ Tangerine. So far it's at 2.0% (or lower). We've got another week until the current retention rate expires...poedin wrote:Since others here and at RFD are getting 3%, did the Tangerine dance again. Took a little longer this time - good till the new year.poedin wrote:2.5% "retention rate" for our accounts @ Tangerine.
Didn't have to ask for it (this time).
Ten minutes - done.
Thanks FWFers
Re: High interest rates for savings, GICs and MMFs (2016)
got 2.0% till march 31st on 65k at Tang. There's no material indicator of this rate in the Web UI of my account, nor a confirmation email. It was all verbal - to be confirmed on dec 30, when interest is recorded.poedin wrote:poedin wrote:poedin wrote:2.5% "retention rate" for our accounts @ Tangerine.
Interesting conversation in RFD re latest negotiated rates @ Tangerine. So far it's at 2.0% (or lower). We've got another week until the current retention rate expires...
What's RFD ?
tx
Re: High interest rates for savings, GICs and MMFs (2016)
RFD = Red Flag Deals http://www.redflagdeals.com/ go to forums - discussions - personal finance sectionKFried wrote:got 2.0% till march 31st on 65k at Tang. There's no material indicator of this rate in the Web UI of my account, nor a confirmation email. It was all verbal - to be confirmed on dec 30, when interest is recorded.poedin wrote:poedin wrote:
What's RFD ?
tx
Re: High interest rates for savings, GICs and MMFs (2016)
thank you.Okanagan wrote:RFD = Red Flag Deals http://www.redflagdeals.com/ go to forums - discussions - personal finance sectionKFried wrote:got 2.0% till march 31st on 65k at Tang. There's no material indicator of this rate in the Web UI of my account, nor a confirmation email. It was all verbal - to be confirmed on dec 30, when interest is recorded.poedin wrote:
What's RFD ?
tx
N.B. The 2.0% is on a NREG acct - the only one I have with Tang
Re: High interest rates for savings, GICs and MMFs (2016)
I called Tangerine twice but couldn't get higher than 1.6% (on a six digits amount). I moved the entire balance to PCF for the last two weeks of the 2.25% promotion.poedin wrote:Interesting conversation in RFD re latest negotiated rates @ Tangerine. So far it's at 2.0% (or lower). We've got another week until the current retention rate expires...
Re: High interest rates for savings, GICs and MMFs (2016)
Just called Tangerine (previous offer expired yesterday) and was given a new offer of 2% for 90 days.
" A verbal contract isn't worth the paper it is written on " Samuel Goldwyn
"The light at the end of the tunnel may be a freight train coming your way" Metallica - No Leaf Clover
"The light at the end of the tunnel may be a freight train coming your way" Metallica - No Leaf Clover
Re: High interest rates for savings, GICs and MMFs (2016)
Interesting!CROCKD wrote:Just called Tangerine (previous offer expired yesterday) and was given a new offer of 2% for 90 days.
Called Tang Dec 19, when the 2% rate expired in 3 accounts (my own, wife, and joint). Waited about 15 minutes to speak with a supervisor, and was told that the best they could do for all savings accounts was 1.6%. Promptly withdrew $100k and passed the phone over to wife with same instructions. Called back 2 more times for additional withdrawals and transferred the funds into our Zag accounts with the intention of switching back to Tang in case they come up with a more generous new promo. Feel a bit guilty for stooping to their level, but will certainly call Tang again after the holidays for more withdrawals if they can't come up with a better deal.