Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this7:17 am
November 8, 2021
Offline
In attempting to strategize short term/liquidity, Tang upcoming savings account 2.20% offer vs. Oaken cashable GIC.
Ex. Cashable GIC at 2.0% with an option to withdraw funds after 90 days:
a. Does anyone know if the GIC continues to earn the rate advertized once one can withdraw some money from it after the 90 days "lock in" period?
b. If not, does the money in the cashable GIC returns to the savings account and its current interest rate?
8:25 am
April 6, 2013
Offline
Oaken's one-year Cashable GIC has a one-year term. So, the 1.7% or 2% rate at the start is fixed for the one year.
8:39 am
February 7, 2019
Offline
BlueSky said
In attempting to strategize short term/liquidity, Tang upcoming savings account 2.20% offer vs. Oaken cashable GIC.
Ex. Cashable GIC at 2.0% with an option to withdraw funds after 90 days:
a. Does anyone know if the GIC continues to earn the rate advertized once one can withdraw some money from it after the 90 days "lock in" period?
b. If not, does the money in the cashable GIC returns to the savings account and its current interest rate?
Short/medium term, rates are going up, so why not use the 2.2% TNG offer while it lasts then later consider locking in at a higher rate.
| CGO |
9:44 am
January 12, 2019
Offline
.
And as a 'Third' Option, don't forget Hubert's quarterly cashable 1yr GIC. The first quarter rate is 2.10% .
.
And note that 2.20% Rate for the upcoming special-offer Tangerine Savings Account, can change at Any time (up or Down).
- Dean
" Live Long, Healthy ... And Prosper! "
10:24 am
March 30, 2017
Offline
BlueSky said
In attempting to strategize short term/liquidity, Tang upcoming savings account 2.20% offer vs. Oaken cashable GIC.
Ex. Cashable GIC at 2.0% with an option to withdraw funds after 90 days:
a. Does anyone know if the GIC continues to earn the rate advertized once one can withdraw some money from it after the 90 days "lock in" period?
b. If not, does the money in the cashable GIC returns to the savings account and its current interest rate?
why would you consider a GIC that is logged in for at least x amount of time and at a lower rate than a savings account that has no such restriction ??
if you worry about very short rates going down in the next 6 months, it wont happen
7:00 am
April 2, 2018
Offline
Dean said
And note that 2.20% Rate for the upcoming special-offer Tangerine Savings Account, can change at Any time (up or Down).
Tang 2.2% offer is so muddy I do not understand conditions. Is it for New money? Existing money? Existing + any New money? If you take money out do you lose 2.2%.
I took money out just in case...
8:15 am
November 8, 2021
Offline
savemoresaveoften said
why would you consider a GIC that is logged in for at least x amount of time and at a lower rate than a savings account that has no such restriction ??
if you worry about very short rates going down in the next 6 months, it wont happen
It's just that Tang offers are unclear in terms of what's the promo rate applies to, there's always a guessing game going, and for Quebec, FI options are very limited.
Dean, I would have like to have options such as Hubert, but as I noted above, not too many options here.
2:41 pm
September 15, 2017
Offline
Parama Credit Union (Ontario) has a special offer. 1 year GIC cashable anytime after 60 days at 2.50% p.a.
5:02 am
May 8, 2022
Offline
First I would like to say this is a great website for Comparison High Interest Savings Account.
Another addition to the site would be a Comparison Chart for Cashable GIC - 30 days to 3 years.
Thanks for the great site.
Please write your comments in the forum.