High interest rates for savings, GICs and MMFs (2017)

Banking and Saving strategies, maximizing interest rates, budgeting, GICs, HISAs.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by kcowan »

Agreed! Watch for their GIC rates to adjust down quickly.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Pickles »

Their Rates page is "currently unavailable".....
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by NorthernRaven »

Pickles wrote: 23 Jun 2017 10:15 Their Rates page is "currently unavailable".....
Comes up fine for me now, and no changes.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by IdOp »

snowback96 wrote: 23 Jun 2017 08:14 Is anybody else taking another look at the juicy yields from Oaken (Home Trust and Home Bank)? Now that things have appear to have stabilized these GICs look much lower risk than they did when they were raised. I still want to stay below CDIC limits but I find it hard to believe that Buffett would invest in this if there was any chance of it going tits up in the next couple years. Thoughts?
Assuming it's a longer term GIC, and CDIC covered, I never saw much risk. For money that is put away for 5 years, if they went under and one hypothetically couldn't access it for even as much as 2 months, it shouldn't be much of a problem, provided you have a reasonable fallback around maturity time.
Last edited by IdOp on 23 Jun 2017 15:18, edited 1 time in total.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Koogie »

As reported elsewhere today, you might be able to juice up that Oaken rate.

Tip: You can get an extra 0.25% if you enter promo code OAKREF5454 in the comments section at the end of Oaken’s application.
https://www.ratespy.com/gic-rate-steal-06234430

~ have not tried it, don't know if it works.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by CROCKD »

Finally gave the people at Tangerine (the former ING) the old heavo when they would not extend my current offer - they offered me 1.6% and were unwilling to budge so the funds are in transit. EQ bank is offering 2.3% and I have an offer from PCF for 2.5%.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by rhenderson »

CROCKD wrote: 23 Jun 2017 17:35 Finally gave the people at Tangerine (the former ING) the old heavo when they would not extend my current offer - they offered me 1.6% and were unwilling to budge so the funds are in transit. EQ bank is offering 2.3% and I have an offer from PCF for 2.5%.
IMO, that was a smart move because now you should qualify for the Tangerine July lottery usually offering rates from 2.5% up. :wink:

http://forums.redflagdeals.com/tangerin ... 061002/65/

https://forums.redflagdeals.com/tangeri ... 091935/34/
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Pickles
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Pickles »

Koogie wrote: 23 Jun 2017 15:18 As reported elsewhere today, you might be able to juice up that Oaken rate.

Tip: You can get an extra 0.25% if you enter promo code OAKREF5454 in the comments section at the end of Oaken’s application.
https://www.ratespy.com/gic-rate-steal-06234430

~ have not tried it, don't know if it works.
I can confirm that this offer is genuine but it expires on June 30th. I got a 2 year GIC today paying 3.2% annually.

In order to qualify, the funds to be invested by Oaken must be received by them no later than June 30th. For anyone with an Oaken savings account, there is still ample time to transfer. A mailed cheque may or may not get there on time, though I'd bet they'd give you the promo if it were postmarked today.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by snowback96 »

Pickles wrote: 27 Jun 2017 09:34
Koogie wrote: 23 Jun 2017 15:18 As reported elsewhere today, you might be able to juice up that Oaken rate.

Tip: You can get an extra 0.25% if you enter promo code OAKREF5454 in the comments section at the end of Oaken’s application.
https://www.ratespy.com/gic-rate-steal-06234430

~ have not tried it, don't know if it works.
I can confirm that this offer is genuine but it expires on June 30th. I got a 2 year GIC today paying 3.2% annually.

In order to qualify, the funds to be invested by Oaken must be received by them no later than June 30th. For anyone with an Oaken savings account, there is still ample time to transfer. A mailed cheque may or may not get there on time, though I'd bet they'd give you the promo if it were postmarked today.
Big thanks to both Koogie & Pickles for bringing this to the attention of the FWF community. I just snagged myself a nice GIC with a great rate (at least by today's standards).
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Koogie »

For anyone who might be interested, Bridgewater Bank is offering a 3% five year GIC through broker channels right now.

They are CDIC members.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by AltaRed »

Not at BMO IL or Scotia iTrade....yet at least.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Koogie »

Deposit brokers, not discount stock brokers.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Descartes »

The Tangerine game continues today. It clearly does pay to not be loyal.
After having removed all cash before July 1st, I received a 3.22% rate until September 30 for new deposits up to 500K.
Thanks to those at RFD ..including Bylo who seems to have found a new life there. ciao.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by adrian2 »

Descartes wrote: 05 Jul 2017 08:47 After having removed all cash before July 1st, I received a 3.22% rate until September 30 for new deposits up to 500K.
Five family members have Tangerine accounts:
- three four have received a 3.1% rate until September 30 for new deposits up to 500K
- two have one has received nothing.

Savings currently sitting at PCF @ 2.5% will flow to Tangerine on Friday.
Why not tomorrow?
Friday means double dipping for 3 days, money will leave PCF on Monday but will be credited by Tangerine by Friday.
Last edited by adrian2 on 06 Jul 2017 08:18, edited 1 time in total.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by fundamental »

In our case, four family members have Tangerine accounts:
- two have received a 3.22% rate until September 30 for new deposits up to 500K
- two have received nothing.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by ig17 »

Three family members with Tangerine accounts:

- my wife and myself got nothing.
- teenage daughter got an offer for 2.97% until Sep 30. Her only business with Tangerine is a chequing account with $0 balance.

Of course, with just a few clicks, we can easily open a new joint savings account to take advantage of this offer. DD+DW or DD+myself would do the trick.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Money101 »

adrian2 wrote: 05 Jul 2017 10:29
Descartes wrote: 05 Jul 2017 08:47 After having removed all cash before July 1st, I received a 3.22% rate until September 30 for new deposits up to 500K.
Five family members have Tangerine accounts:
- three have received a 3.1% rate until September 30 for new deposits up to 500K
- two have received nothing.

Savings currently sitting at PCF @ 2.5% will flow to Tangerine on Friday.
Why not tomorrow?
Friday means double dipping for 3 days, money will leave PCF on Monday but will be credited by Tangerine by Friday.
By "double dipping", you mean you'll earn interest on the same funds from both bank accounts for the same day?

If so, how are you performing the transfer? Are you making the request via Tangerine or PCF?
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by adrian2 »

Money101 wrote: 05 Jul 2017 22:27
adrian2 wrote: 05 Jul 2017 10:29 Five family members have Tangerine accounts:
- three have received a 3.1% rate until September 30 for new deposits up to 500K
- two have received nothing.

Savings currently sitting at PCF @ 2.5% will flow to Tangerine on Friday.
Why not tomorrow?
Friday means double dipping for 3 days, money will leave PCF on Monday but will be credited by Tangerine by Friday.
By "double dipping", you mean you'll earn interest on the same funds from both bank accounts for the same day?

If so, how are you performing the transfer? Are you making the request via Tangerine or PCF?
Yes.
Transfer is initiated from Tangerine, postdated for Friday.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Money101 »

adrian2 wrote: 05 Jul 2017 23:11
Money101 wrote: 05 Jul 2017 22:27
adrian2 wrote: 05 Jul 2017 10:29 Five family members have Tangerine accounts:
- three have received a 3.1% rate until September 30 for new deposits up to 500K
- two have received nothing.

Savings currently sitting at PCF @ 2.5% will flow to Tangerine on Friday.
Why not tomorrow?
Friday means double dipping for 3 days, money will leave PCF on Monday but will be credited by Tangerine by Friday.
By "double dipping", you mean you'll earn interest on the same funds from both bank accounts for the same day?

If so, how are you performing the transfer? Are you making the request via Tangerine or PCF?
Yes.
Transfer is initiated from Tangerine, postdated for Friday.
Thanks.
Do you have to post date it? Does it mater if I initiate on the Friday (choosing the "Now" option)?
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by adrian2 »

Money101 wrote: 05 Jul 2017 23:47
adrian2 wrote: 05 Jul 2017 23:11 Transfer is initiated from Tangerine, postdated for Friday.
Thanks.
Do you have to post date it? Does it mater if I initiate on the Friday (choosing the "Now" option)?
If you initiate it on Friday, you cannot set it up for Friday, it has to be in the future.
For a transfer involving an external account, "Now" means the next business day.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by ig17 »

ig17 wrote: 05 Jul 2017 14:14 Of course, with just a few clicks, we can easily open a new joint savings account to take advantage of this offer. DD+DW or DD+myself would do the trick.
The option to open joint accounts online is no longer available. I used it a few months ago and now it's gone. :(
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by westcoastfella »

we have 2 accounts with Tangerine (joint CAD and joint USD). Just got offer for 2.3% until Sept 30, which seems lower than others... what gives?
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by poedin »

Koogie wrote: 23 Jun 2017 15:18 As reported elsewhere today, you might be able to juice up that Oaken rate.

Tip: You can get an extra 0.25% if you enter promo code OAKREF5454 in the comments section at the end of Oaken’s application.
https://www.ratespy.com/gic-rate-steal-06234430

~ have not tried it, don't know if it works.
It did work - Thanks Koogie!
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by poedin »

westcoastfella wrote: 06 Jul 2017 21:57 we have 2 accounts with Tangerine (joint CAD and joint USD). Just got offer for 2.3% until Sept 30, which seems lower than others... what gives?
Drained our accounts by the long week-end, yet best offer was 2.0%. Even lower than others :?
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by THEMAINEVENT »

2.3% on wife's tangerine, nothing on mine (just ended a 3.21% promo). Good motivation to move a lot of it into non-reg accounts and max both RRSP's for the year. Moved six figures from mine to wife's for emergency fund.
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