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tfsa up to 3.5%
January 11, 2011
5:32 pm
Blair
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I agree that they likely changed it due to money leaving but that should be no surprise. They are simply responding to the market presures.

Should it be a surprise that they waited until the end of December to make the change. They are after all in this to make money. In spite of CTF's history their rates are still competitive with the best.

Hopefully they have learned by their activity in the past that a short term increase does not encourage customer loyalty. I guess we will see.

At this stage in the history of the TFSA we are not speaking of very substantial funds. At current interest rates the impact is somewhat limited.

This conversation will be much more interesting when people have six figure balances in their TFSA's

March 31, 2011
10:01 pm
stylintheo
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stylintheo said:

I guess the bait and switch has started?


bump:lol:
glad i went with cdf

April 1, 2011
11:40 pm
Cents
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Went with CDF too. There process is fairly cumbersome, and it took longer but I figured it was worth it to get 3%. If you want quick go with Ally but tehy are only giving 2%.

April 2, 2011
6:02 am
dougjp
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They are so stoopid to use this trick again. Especially when trying to offset the withdrawals by saying it wasn't a promotional rate.

I don't care what rate they offer at the end of December, mine get withdrawn and reinvested the beginning of January elsewhere. We will see how CDF does in the meantime. CT just dropped from 3.5% to 2.5% March 31. If CDF goes there at any time up to 3 months from now (and I don't see anyone else at 3% savings), I broke even going with CT. Is CDF daily interest paid monthly?

" We may never pass this way again " - Seals & Crofts

April 3, 2011
7:26 pm
stylintheo
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cdf is paid monthly,
also PT is @ 3%

April 6, 2011
5:53 pm
kilarney
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ally has put the 5 year GIC up to 3.5

April 6, 2011
6:00 pm
dougjp
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Sorry I didn't clarify properly. I was referring only to the variable rate savings account rates.

On the long term GIC front, there are a number of them offering 3.5% and I think a 3.6% or two.

" We may never pass this way again " - Seals & Crofts

April 11, 2011
1:52 pm
leo
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stylintheo said:

I guess the bait and switch has started?


you were right here we are 4 months later and the tsfa rate is just above 2% and the hisa rate is at 1.75%. bait and switch indeed

April 14, 2011
5:14 pm
stylintheo
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stylintheo said:

I guess the bait and switch has started?

you were right here we are 4 months later and the tsfa rate is just above 2% and the hisa rate is at 1.75%. bait and switch indeed
ya they got me with it in 2010, at that time cdf and pt did not have TFSA,in 2009 PCF got me with the bait and switch,no way in hell was I going to fall for it in 2011, I am with CDF @ 3%

March 9, 2012
11:12 am
dougjp
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Withdrew all my TFSA from CT in December, and Jan 2 put it all + the 2012 amount with People's Trust. This because of the games CT played with 'this is not a promotional rate!' the past 2 years. So the clock is ticking and I expect CT will drop its TFSA rate early April.....let's see if they are addicted to pulling the bait and switch routine every year.

" We may never pass this way again " - Seals & Crofts

March 9, 2012
12:02 pm
Louise
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stylintheo said:

stylintheo said:
I guess the bait and switch has started?


bump:lol:
glad i went with cdf

The max anyone could have in their account right now is $ 20,000....

March 9, 2012
12:42 pm
88kanaka
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Louise said:

stylintheo said:

stylintheo said:
I guess the bait and switch has started?


bump:lol:
glad i went with cdf

The max anyone could have in their account right now is $ 20,000....

PLUS any interest accured within a TFSA

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