5.75% for 5 months HISA (reg'd or not) if you don't already have such an account | Page 2 | Meridian Credit Union | Discussion forum

canadian.100 said

Yes - the manager can approve the 5.75% rate even if you already have a HISA.
Note the increases in Meridian's Service Charges effective September 1st including new fees on Seniors Accounts too.  

I checked with the Markham branch and was told its strictly for new customers only and wont budge (whether new money or acct with good standing as in decent size GIC balance)... Guess Tangerine can keep my money a little longer for now.

JenE said
I was just told by the call centre that if I deposited $100,000 in new money they would make an exception for me.  

Thanks for the tips. i called in to the call centre (not by markham) and they put in a note to request for exception. They cant confirm right the way cuz prob the managers are very busy with this promotion, and the CS not able to get a hold of one while I am on the phone waiting.

Initially she gave me the usual only new account / account type qualifies. As soon as I mentioned the magic words "$100k min", she immediately try to ask for exception approval 🙂

savemoresaveoften said

I checked with the Markham branch and was told its strictly for new customers only and wont budge (whether new money or acct with good standing as in decent size GIC balance)... Guess Tangerine can keep my money a little longer for now.  

DUCA has a similar promo (IE. until January 2024) at a rate of 5.25%.

This is the offer:
"2. The Offer is available to Retail Members on deposits made into the Eligible Account within 152 days (approximately 5 months) from the date the Eligible Account is opened (the "Promotion Period") to a maximum Eligible Account balance of $1,000,000 per Member."

Given that it takes 3 business days for funds to be transferred into the Meridian account from an external account, does 152 days begin from the day the account is opened or from the day the funds are in the account and begin earning interest?

Loonie said
https://www.meridiancu.ca/offers/terms-and-conditions/meridian-good-to-grow-high-interest-savings-account-(gtg-hisa)-boost-interest-rate-offer

I think this is much the same as a similar offer some months ago.
May be useful for new members, for old members who want a new account type (reg'd/not), or for those who had the foresight to close their disqualifying accounts more than six months ago.  

Is this offer still available? I can't find it on the website.

Anybody out there have any thoughts about how long this offer is expected to be made available?

Largest credit union in Ontario. Covered by provincial insurance up to 250K.

Lodown said
Since this accrues monthly, effective annual rate is 5.904%/year.  

Are you sure its not compounded annually?

=(1+0.0575/12)^12 in my spreadsheet gives 5.904%

If the interest shows up monthly, this is what it should be.