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

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

Post by deaddog »

Ideal savings have extended their promotional rate until Dec 31 2018.
Good news for all variable rate account holders that have their rates guaranteed to Dec 31, 2017. We have automatically extended your guaranteed rate of 2.50% for yet another year to Dec 31, 2018.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by adrian2 »

Tangerine is offering a semi-competitive rate of 2% for a 1 year GIC (registered or not).
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Pickles
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Pickles »

adrian2 wrote: 23 Dec 2017 13:46 Tangerine is offering a semi-competitive rate of 2% for a 1 year GIC (registered or not).
latest
What a coincidence! Tangerines latest promo expires December 31st.... perhaps they see this as a possible way to stem the usual withdrawals during the last week of the promotion.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by SoninlawofGus »

Rant: So when is TDDI going to get it together with allowing us to place electronic GIC orders? They are literally years behind their competition. I've personally asked for this many times when I call, and I always get a sympathetic "we're working on it" answer.

Calling them just plain sucks sometimes. Today, I was getting the "your wait time could be 5 minutes or longer" message. Now, it's "15 minutes or longer." Not to mention we always have to wait to listen their extra-long legal disclaimer before finalizing orders (all which can be done in writing on the web site, as it is with iTrade).
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Re: High interest rates for savings, GICs and MMFs (2017)

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SoninlawofGus wrote: 27 Dec 2017 11:09 Rant: So when is TDDI going to get it together with allowing us to place electronic GIC orders? They are literally years behind their competition. I've personally asked for this many times when I call, and I always get a sympathetic "we're working on it" answer.

Calling them just plain sucks sometimes. Today, I was getting the "your wait time could be 5 minutes or longer" message. Now, it's "15 minutes or longer." Not to mention we always have to wait to listen their extra-long legal disclaimer before finalizing orders (all which can be done in writing on the web site, as it is with iTrade).
And just when you think you're done and want to get off the phone, the rep will ask how their service is and what you think? They have asked me this so many times that I have asked them that they could improve their service by ceasing to ask me how their service is. Jeepers!
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SoninlawofGus
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by SoninlawofGus »

SoninlawofGus wrote: 27 Dec 2017 11:09 Calling them just plain sucks sometimes. Today, I was getting the "your wait time could be 5 minutes or longer" message. Now, it's "15 minutes or longer."
After getting these messages for the past two days, I just put it on speakerphone and have been doing other work. It's been more than 1 hour now, just to buy a damn GIC! :evil: It's just plain awful service. I just transferred all of my TFSA holdings over in cash and was considering starting a GIC ladder with TD (mainly to keep things simple for my wife), but this experience has me thinking I should just go elsewhere. It's really unacceptable.
Last edited by SoninlawofGus on 29 Dec 2017 10:43, edited 1 time in total.
BRIAN5000
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by BRIAN5000 »

SoninlawofGus wrote: 28 Dec 2017 14:33
SoninlawofGus wrote: 27 Dec 2017 11:09 Calling them just plain sucks sometimes. Today, I was getting the "your wait time could be 5 minutes or longer" message. Now, it's "15 minutes or longer."
After getting these messages for the past two days, I just put it on speakerphone and have been doing other work. It's been more than 1 hour now, just to buy a damn GIC! :evil: It's just plain awful service. I just transferred all of my TFSA holdings over in cash and was considering starting a GIC ladder with TD (mainly to keep things simple for my wife), but this experience has me thinking I should just go elsewhere. It's really unacceptable.

I was recently talking to an ex-TD employee (on the investment side); he was telling that the company is primarily focused on the US market now -- doesn't care so much about the Canadian market.
I have converted or almost converted all registered accounts at TDDI to bond ETFs (no GICs) way easier than a GIC ladder, maybe better return. Plan for TFSA at the moment 10% TDB8150, 30% VAB, 60% XAW, rebalance with contributions once a year.

Not moving unless someone gives me 1% minimum, low 7 figure bonus,lol.
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SoninlawofGus
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by SoninlawofGus »

BRIAN5000 wrote: 28 Dec 2017 15:45 I have converted or almost converted all registered accounts at TDDI to bond ETFs (no GICs) way easier than a GIC ladder, maybe better return. Plan for TFSA at the moment 10% TDB8150, 30% VAB, 60% XAW, rebalance with contributions once a year.
I'm committed to the GIC route for now, though not so committed to TDDI. I just don't want to have accounts everywhere. They know that, I'm sure, but we all have our limits to what we'll put up with. They've already lost my TFSA business. New funds for FI will go elsewhere.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by northbynorthwest »

BRIAN5000 wrote: 28 Dec 2017 15:45 I have converted or almost converted all registered accounts at TDDI to bond ETFs (no GICs) way easier than a GIC ladder, maybe better return. Plan for TFSA at the moment 10% TDB8150, 30% VAB, 60% XAW, rebalance with contributions once a year.
Which bond ETFs are you using on the registered side?
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by LAJ »

SoninlawofGus wrote: 27 Dec 2017 11:09 Rant: So when is TDDI going to get it together with allowing us to place electronic GIC orders? They are literally years behind their competition. I've personally asked for this many times when I call, and I always get a sympathetic "we're working on it" answer.

Calling them just plain sucks sometimes. Today, I was getting the "your wait time could be 5 minutes or longer" message. Now, it's "15 minutes or longer." Not to mention we always have to wait to listen their extra-long legal disclaimer before finalizing orders (all which can be done in writing on the web site, as it is with iTrade).
lol...I recently transferred 400K cash out of TDDI RRSPs to Hubert Financial RRSP to build a GIC ladder. TD did everything they possibly could to delay this transfer. They sent back forms without follow-up, they asked for clarification, they just generally dragged their feet. I managed to get the phone number for the transfer department and when I called, the rep just gave me heck for calling them as they don't talk to customers. Took almost six weeks to get it all completed. And it's not like we took everything out of the accounts, there is still a substantial portfolio at TD.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by Mordko »

A while back I transferred about $80K out of RBC. This is nothing for a bank like RBC. Yet RBC staff were unhelpful and downright rude. Funny thing - I have never dealt with RBC again.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by good4u »

LAJ wrote: 29 Dec 2017 09:50
SoninlawofGus wrote: 27 Dec 2017 11:09 Rant: So when is TDDI going to get it together with allowing us to place electronic GIC orders? They are literally years behind their competition. I've personally asked for this many times when I call, and I always get a sympathetic "we're working on it" answer.

Calling them just plain sucks sometimes. Today, I was getting the "your wait time could be 5 minutes or longer" message. Now, it's "15 minutes or longer." Not to mention we always have to wait to listen their extra-long legal disclaimer before finalizing orders (all which can be done in writing on the web site, as it is with iTrade).
lol...I recently transferred 400K cash out of TDDI RRSPs to Hubert Financial RRSP to build a GIC ladder. TD did everything they possibly could to delay this transfer. They sent back forms without follow-up, they asked for clarification, they just generally dragged their feet. I managed to get the phone number for the transfer department and when I called, the rep just gave me heck for calling them as they don't talk to customers. Took almost six weeks to get it all completed. And it's not like we took everything out of the accounts, there is still a substantial portfolio at TD.
It all makes sense now. I had terrible problems with trying to transfer funds out of TDDI to other brokerages in the past and it was a total nightmare. So much following up and just try to call their back office. They won't let you talk to them. Just about lost all of my hair pulling it out through the process.
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by BRIAN5000 »

northbynorthwest wrote: 29 Dec 2017 09:35
BRIAN5000 wrote: 28 Dec 2017 15:45 I have converted or almost converted all registered accounts at TDDI to bond ETFs (no GICs) way easier than a GIC ladder, maybe better return. Plan for TFSA at the moment 10% TDB8150, 30% VAB, 60% XAW, rebalance with contributions once a year.
Which bond ETFs are you using on the registered side?
VAB, VSB, VSC, ZCM for a test run, would only use VAB & ZCM with TDB8150 now, The other two didn't hold up in this interest rate environment. :(
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Re: High interest rates for savings, GICs and MMFs (2017)

Post by poedin »

westcoastfella wrote: 05 Oct 2017 00:44
Descartes wrote: 04 Oct 2017 12:35 Tangerine rates received in this iteration of the lottery appear to be 2%, 2.12%, 2.2%, 2.4%, and 2.75%.
http://forums.redflagdeals.com/3-month- ... d-2061002/
If you got 0 then you might want to try calling a CSR for a retention rate. Some people have reported success with that in the above link. ..But it might have been coupled with a threat of pushing out a large balance to another bank.
I just played the Tangerine lottery, and got 2.55%. Better than the 2.35% I got last quarter
Reminder: If past bonus/retention interest rate lottery is still in play at Tangerine, act accordingly next week with the HISAs. Good luck!
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