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EQ Raises Savings Account Interest
January 26, 2020
10:43 am
moneyhelp
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krwilson said
Tangerine has an offer I am using till the end of January 2020 @ 2.75%. After that not sure what Tangerine may be offering.  

Same, except mine is till end of May. I had moved my $ out to Achieve, then received the offer, so I don't mind moving the money over to Tangerine, as long as I'm given the promo rate, its every 5-6 months now, compared to before every 3 months, still worth it IMO.

January 28, 2020
8:14 am
Vatox
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The 1 and 2 year rate are finally increased.

February 11, 2020
8:32 am
smayer97
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Dean said

Another member of the Stampede, making the 'Grand Exit' from Tangerine.

You're not alone❗

Save2Retire@55 said

This is amazing. I just got the email too. Love EQ!
For those comparing EQ with others with higher special rates, I don't think it is the good way of comparing a permanent rate with temporary ones.  

Yup ... I don't pay much attention to those short-term 'bait' rates either.

But some here do. LOL sf-laugh  

Vatox said

Yeah, I really want that 2 year GIC at 2.45% because I love to lock my money away.sf-confused  

exactly @vatox That is one key reason people do NOT use GICs to "keep it simple"...because they (and I) are not ready/willing/able to lock in our money.

So rate chasing makes sense. No need to dis those that do.

February 11, 2020
9:07 am
Alexandra
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smayer97 said

Yup ... I don't pay much attention to those short-term 'bait' rates either.

But some here do. LOL sf-laugh  

Vatox said

Yeah, I really want that 2 year GIC at 2.45% because I love to lock my money away.sf-confused  

exactly @vatox That is one key reason people do NOT use GICs to "keep it simple"...because they (and I) are not ready/willing/able to lock in our money.

So rate chasing makes sense. No need to dis those that do.  
I too deal with many banks and credit unions. Now that I am older, I buy the best GIC rate I can get and get paid yearly instead of compounding. This way I can take advantage of any better rates that come up with the interest money. I always keep out around $100K and invest those funds in HISA. If Tangerine doesn't improve, I will be cashing in all my TFSA GICs with them. If they have a descent TFSA HISA rate at the time, I will put the funds in that then cash in December and re-invest in probably Oaken the next year in February. The same goes for the little bit I have in RRIFs with them. Sick of their games!!

February 11, 2020
1:04 pm
theodor
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I find it outrageous that EQ Bank continues to string us along with their promise of offering joint savings accounts. I don't care what interest rate they offer as it is more important for an older person to leave their widow/widower an easily accessible account, free of probate worries. An inept bank indeed that is unable to complete such a task.

February 11, 2020
1:19 pm
ReX
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theodor said
I find it outrageous that EQ Bank continues to string us along with their promise of offering joint savings accounts. I don't care what interest rate they offer as it is more important for an older person to leave their widow/widower an easily accessible account, free of probate worries. An inept bank indeed that is unable to complete such a task.  

New ETA for Joint is end of March '20.
TFSA and RRSP now promised by end of August '20

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