High interest rates for savings, GICs and MMFs (2018)

Banking and Saving strategies, maximizing interest rates, budgeting, GICs, HISAs.
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High interest rates for savings, GICs and MMFs (2018)

Post by Peculiar_Investor »

This is the topic to post rate changes, questions, special offers, etc. Please do not use this topic to discuss the relative merits of HISAs and GICs as an investment vehicle.

For newcomers to FWF, our wiki covers Cash management, High-interest savings account, Guaranteed Investment Certificates and Money market funds.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by poedin »

Reminder: If past bonus/retention interest rate lottery is still in play at Tangerine, act accordingly this week with the HISAs.
Please post your results and good luck!
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by poedin »

Currently our funds are at simplii-not-so-simply-to-open-accounts-as-new-customers @3% till 28 February.
Tangerine will have to offer the same or better and for 90+ days to bait a switch...
Good discussion of Tangerine lottery http://forums.redflagdeals.com/3-month- ... 61002/175/
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by westcoastfella »

I got my tangerine special offer, 2.5% on new deposits until May 31 (5 months vs the usual 3). they are taking balance as of Jan 2 as the base.
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Re: High interest rates for savings, GICs and MMFs (2018)

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westcoastfella wrote: 03 Jan 2018 13:22 I got my tangerine special offer, 2.5% on new deposits until May 31 (5 months vs the usual 3). they are taking balance as of Jan 2 as the base.
Same offer for me. Glad I remembered to transfer all my cash from saving to chequing on Jan 1.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Spudd »

Same here. I guess after Feb 28 I'll move my dough from Simplii back to Tang.

I wonder if the fact we all 3 got the same offer means they've stopped the crazy lottery style rate offerings?
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Re: High interest rates for savings, GICs and MMFs (2018)

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Spudd wrote: 03 Jan 2018 16:11 Same here. I guess after Feb 28 I'll move my dough from Simplii back to Tang.

I wonder if the fact we all 3 got the same offer means they've stopped the crazy lottery style rate offerings?
Might be. It is a surprisingly low offer but I haven't heard of anyone offered a higher rate. Other changes: You have to activate the offer online and there is a deadline to indicate your acceptance (end of January). Also some people were phoned and offered the same rate before the new yearon all money in their account plus new money. However this offer was 2.5% for 90 days only.

I've accepted the offer but plan to put fewer funds back in(I transferred it all out except for a few dollars to keep the account open). I'm maxed out for guaranteed deposits at Simplii but might put in another $20,000 or so to reap the higher percentage instead of transferring the funds from my bricks and mortar bank back to Tangerine. I may also buy a GIC with some of the $$ previously at Tangerine. My GIC ladder has been in shambles since HISA accounts offered more than even 5 year GICs. Oaken 3, 4 and 5 year rates have recently risen higher than anything offered at Tangerine.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Spudd wrote: 03 Jan 2018 16:11 Same here. I guess after Feb 28 I'll move my dough from Simplii back to Tang.

I wonder if the fact we all 3 got the same offer means they've stopped the crazy lottery style rate offerings?
FWIW only 2 of the 4 people in my family circle received the offer.

So two of us get 2.5%, the other two of us (including yours truly) get a whopping 1.0% :oops:
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Re: High interest rates for savings, GICs and MMFs (2018)

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poedin wrote: 02 Jan 2018 11:56 Currently our funds are at simplii-not-so-simply-to-open-accounts-as-new-customers @3% till 28 February.
Tangerine will have to offer the same or better and for 90+ days to bait a switch...
Good discussion of Tangerine lottery http://forums.redflagdeals.com/3-month- ... 61002/175/
Same 2.5% offer - will activate it in a few days (see how this plays out).
Funds will remain at simplii and re-evaluate their offer after February...
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Re: High interest rates for savings, GICs and MMFs (2018)

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westcoastfella wrote: 03 Jan 2018 13:22 I got my tangerine special offer, 2.5% on new deposits until May 31 (5 months vs the usual 3). they are taking balance as of Jan 2 as the base.
Same here (on the wife's account). Last few promos we just move the funds back and forth between our two joint accounts, no need to move out of Tangerine, as the one without the large balance always gets the promo offer.
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Re: High interest rates for savings, GICs and MMFs (2018)

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optionable68 wrote: 03 Jan 2018 19:26
Spudd wrote: 03 Jan 2018 16:11 Same here. I guess after Feb 28 I'll move my dough from Simplii back to Tang.

I wonder if the fact we all 3 got the same offer means they've stopped the crazy lottery style rate offerings?
FWIW only 2 of the 4 people in my family circle received the offer.

So two of us get 2.5%, the other two of us (including yours truly) get a whopping 1.0% :oops:
For the two who did not get the offer, make sure you check the top banner (click on the triangle to the right to cycle through them); for some of the family members who did not get the offer email, one of the top banners did have the activate button and after clicking it, the offer appears in their profile.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Arby »

My previous bonus rate from Tangerine expired yesterday. I was able to get 2.5% on the full balance for 90 days. Didn't take much negotiation. Worst part was waiting on the phone to get a live person.
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Re: High interest rates for savings, GICs and MMFs (2018)

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adrian2 wrote: 04 Jan 2018 09:19 For the two who did not get the offer, make sure you check.....
No luck. No offer to be found. The thing in common for the 2 who did not receive offers is that they took their account to zero in advance of the offer. Worth noting for the next round of offers in June.
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Re: High interest rates for savings, GICs and MMFs (2018)

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optionable68 wrote: 04 Jan 2018 17:17
adrian2 wrote: 04 Jan 2018 09:19 For the two who did not get the offer, make sure you check.....
No luck. No offer to be found. The thing in common for the 2 who did not receive offers is that they took their account to zero in advance of the offer. Worth noting for the next round of offers in June.
All 5 family members took the account to zero, and all 5 got the same 2.5% offer: 3 via the email, 2 via digging the Tangerine site.

People at the RFD site have been trying for years to discern a pattern in the Tangerine "lottery", nothing was unveiled.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by ig17 »

We are 1-for-3 in our family accounts so far. The first offer arrived today around noon.

I know I can get the same offer if I call them because all 3 accounts have the same address. They extend the offers to other family members as long as you live under the same roof.
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Re: High interest rates for savings, GICs and MMFs (2018)

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optionable68 wrote: 04 Jan 2018 17:17
adrian2 wrote: 04 Jan 2018 09:19 For the two who did not get the offer, make sure you check.....
No luck. No offer to be found. The thing in common for the 2 who did not receive offers is that they took their account to zero in advance of the offer. Worth noting for the next round of offers in June.
You may be able to move the money now and get the offer. I know in the past I have not gotten my offer right away, and have moved my money in frustration - only to get the offer right away. You have until Jan 31 to accept it, so no harm in missing a few days.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Arby »

For those who didn't "get the offer", did you call Tangerine and try to negotiate a better rate? I didn't receive an offer, but as mentioned in my post upthread, I was able to negotiate 2.5% on my existing full balance. I simply called Tang and said I would be moving my money if they couldn't match Simplii's 3% offer. The rep said the best they could do was 2.5% for 90 days. Close enough for me.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Pickles »

Arby wrote: 05 Jan 2018 11:51 For those who didn't "get the offer", did you call Tangerine and try to negotiate a better rate? I didn't receive an offer, but as mentioned in my post upthread, I was able to negotiate 2.5% on my existing full balance. I simply called Tang and said I would be moving my money if they couldn't match Simplii's 3% offer. The rep said the best they could do was 2.5% for 90 days. Close enough for me.
I did something similar 2 years ago: I negotiated a lower rate than many got and, a month later, I moved most of it to a different online bank that initiated a better promo. Just because you accept an offer from Tangerine doesn't mean you have to keep your money there. The offer you gave was for 3 months. If you have a simplii account you could get 3% for a month or so, then move your money back to Tangerine at the end of Feb for another month at 2.5%

It is annoying to constantly move your money but, if you don't, you get worse offers (eg. your 3 month term versus my 5 month term) or none at all.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by northbynorthwest »

I’m new to this game.
It’s time to do better than the 0.5% I am getting at my regular bank on a newly received mid six figures sum that I need to keep on a short leash.
Tangerine offers 1.9% to new clients like me and boosts that to 2.4% if you open a chequing account too. Those rates apply for six months. I think that’s what I will likely do, avoid having to hop around more frequently, at least for a while.
Simplii’s 3% appears to only be good for the next 6 weeks then drop to 1.0 at end of Feb. And I don’t think I’ll bother hunting for the hoop to jump through to get the extra 0.1 bump to 2.5 for 90 days at Tangerine that others here spoke of.
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Re: High interest rates for savings, GICs and MMFs (2018)

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EQ bank rate has been steady at 2.3% for a while, no need to move fund around nor haggling over the phone.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Last time I looked, EQ was limited to $100k for new clients.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Any Tangerine customer here interested in making $50 by posting or PM'ing me their refer-a-friend "Orange key"?

EDIT: Received from freedom_2008. :thumbsup:
Last edited by northbynorthwest on 08 Jan 2018 17:51, edited 1 time in total.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Have sent you a PM. Let me know.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by BRIAN5000 »

Oaken email this morning

Please note that effective today, Wednesday, January 10, 2018, we have increased the interest rates for all our long-term GICs (registered and non-registered):
• 1 Year GIC – 2.25% (previously 2.00%)
• 18 Month GIC – 2.50% (previously 2.25%)
• 2 Year GIC – 2.60% (previously 2.35%)
• 3 Year GIC – 2.85% (previously 2.65%)
• 4 Year GIC – 3.00% ( previously 2.75%)
• 5 Year GIC – 3.15% (previously 3.00%)
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by AltaRed »

Even higher rates might be coming in 10-15 days time IF the BoC increases its overnight rate on Jan 17th. I see Scotia iTrade is offering 2.81% from Home Trust, Equitable Bank and Home Equity, and 2.8% from Concentra.
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