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Email this10:20 am
November 7, 2014
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I personally don't know how it works on this site, but Tandia currently has the best 4 and 5 year GIC rates and is not mentioned anywhere but in my blogs. I am not trying to sell their products nor do I have any interest in them other than as a member, but should we not be providing this type of info to the followers of this site in a more transparent and helpful manner? Many people refer to this site for the best available deposit and GIC rates and most would not find any reference to the best GIC rates currently available. It should be easy to see this information.
Also, in my recent discussions with Tandia, they are now an open bond credit union and, according to the person I spoke with, will take applications on line for people outside Ontario. One should verify this.
11:01 am
December 20, 2016
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I too had a recent conversation with a CSR at Tandia, and thought the prospects for their offering worthwhile opportunities to be of interest to me.
We missed a recent opportunity for a 90 day 2% gic that got limited advertising.
I've increased my own monitoring of Tandia, and if there are enough like minded Forum members, Peter may be asked to consider adding Tandia to the list of prospective FI's.
What's their membership intake process like?
Anyone have first hand experience with dealing with them?
Stephen
12:08 pm
November 7, 2014
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We originally dealt with them when they were known as the Teachers Credit Union. We are continuing our relationship now and they have been very nice and responsvie when needed. We use the Toronto TCSBE branch at Sheppard and Yonge. When we joined we had to go into the branch. As I said earlier, I was told that's not necessary any more. I don't know what the on line application process is like.
12:09 pm
September 19, 2018
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Ontario residents only.
3:10 pm
March 15, 2019
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Sounds good. I've had a couple of GIC's with them. My only complaint is that they did not consider money from a matured Tandia GIC as "new money".
9:48 pm
September 29, 2017
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gicjunkie said
...Also, in my recent discussions with Tandia, they are now an open bond credit union and, according to the person I spoke with, will take applications on line for people outside Ontario. One should verify this.
Jowett said
Ontario residents only.
So which is it?
Also, see the discussion on why are Ontario only (or other province-only) opportunities excluded from the list?
https://www.highinterestsavings.ca/forum/site-suggestions/why-are-ontario-only-or-other-province-only-opportunities-excluded-from-the-list/
6:47 am
July 18, 2017
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gicjunkie said
Many people refer to this site for the best available deposit and GIC rates and most would not find any reference to the best GIC rates currently available. It should be easy to see this information.
I'm one of the many people who use this site as a reference for GIC and HISA promos, and over the years I have discovered opportunities here that I otherwise would have missed. I'd appreciate if Tandia was added to the mix.
Also, I'd like to thank you personally, GIC Junkie, for sharing your finds. You have helped me discover some great opportunities as well. Please keep it up! 
8:14 am
November 7, 2014
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cristunity said
gicjunkie said
Many people refer to this site for the best available deposit and GIC rates and most would not find any reference to the best GIC rates currently available. It should be easy to see this information.I'm one of the many people who use this site as a reference for GIC and HISA promos, and over the years I have discovered opportunities here that I otherwise would have missed. I'd appreciate if Tandia was added to the mix.
Also, I'd like to thank you personally, GIC Junkie, for sharing your finds. You have helped me discover some great opportunities as well. Please keep it up!
First of all, thanks for the kind words. I like to think that most of the participants here are trying to help each other out in sorting through all the information available to investors.
I have read, with interest, most of the comments in this thread. It seems that it really would be quite cumbersome to expect all FIs to be included and monitored in this site for their rate fluctuations. Many companies have historically low deposit interest rates and should not be included here. One could use other sites, eg. Cannex
( https://www.cannex.com/public/term02e.html ) to monitor these. On the other hand, some institutions which have been giving higher rates could be added to the GIC list with provincial indicators the way the HISA chart works. Due to the fluid nature of interest rate fluctuations, these charts should not be cast in stone anyways. FIs could always be added or removed as necessary.
I know there is a "Promos" area where higher rates have been posted for companies that generally do not have higher interest offerings on deposits. Peter has been using this area for this purpose. My question really is, "why does this seem to be a randomly used area for this information?" (See First Ontario Credit Union posting) This Tandia issue could have been addressed with one line here.
While we do sometimes criticize and make suggestions, I really do appreciate the work that Peter, and whoever else may be helping him, does on this site for our benefit.
8:37 am
May 15, 2007
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Thanks for the nudge on the Promos page. I've added the Tandia rates there now. It seems random because it's manually maintained and sometimes I get stuck because of the lack of definition of what is and isn't a promo (and having more definition isn't so obviously a good thing to me).
9:32 am
November 7, 2014
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Peter said
Thanks for the nudge on the Promos page. I've added the Tandia rates there now. It seems random because it's manually maintained and sometimes I get stuck because of the lack of definition of what is and isn't a promo (and having more definition isn't so obviously a good thing to me).
I also know it's not a "Promo", but sometimes you have to put information somewhere and there is no perfect fit. It often amazes me that some people think it's somehow "unconstitutional" when a "good" deposit rate, which isn't identified as a "promo" changes to a lower rate due to changing market needs and conditions. I guess the prevailing philosophy here is that higher deposit rates should never decrease, but lower rates should always increase. We all really know that all rates are temporary, no matter what we call them.
Thanks again for your efforts.
6:34 am
October 21, 2013
Online
As to the question of what is or is not a promo rate, I think it's fair to assume that any rate which stands out significantly should be seen as a promo rate. Tandia's five year rate at 2.5 is clearly a promo rate, whether they call it that or not. No other FI has jumped in to join them yet.
6:51 am
September 29, 2017
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Who care if it is a promo rate or not? NO rate is indefinite and can change at ANY time... the only difference is that promo rates including info as to when it will DEFINITELY change BUT most can still change at any time.
At the end of the day, all offers should be presented.
8:45 am
December 20, 2016
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As there has been some interest in Tandia generated by this discussion, in the hopes that Tandia might evolve into one of the Forum's favorites if and when their interest levels attract Forum members, it should be noted Tandia offers a "finders fee" or referral program for current members.
Both parties get $25 when referred and the new account is opened.
Information required is the referrer's name, phone number and postal code.
Download Referral PostCard
Perhaps current members wishing to be referrers might make their availability known so details could be exchanged by Private Message.
Stephen
10:19 am
July 18, 2017
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gicjunkie said
I also know it's not a "Promo", but sometimes you have to put information somewhere and there is no perfect fit. It often amazes me that some people think it's somehow "unconstitutional" when a "good" deposit rate, which isn't identified as a "promo" changes to a lower rate due to changing market needs and conditions. I guess the prevailing philosophy here is that higher deposit rates should never decrease, but lower rates should always increase. We all really know that all rates are temporary, no matter what we call them.
Uh huh. I just take it as a given that unless a promo has an explicitly-stated end date -- either publicly or through email confirmation -- then it can end at any time. Sure, FIs typically don't yank rates in a matter of days. But it does happen. For example, around last April or May Tangerine wanted to give its financially battered mutual fund clients a safe place to park their $, so they offered a 5-year GIC at 3.2%. That wasn't advertised as a promo, but I think it lasted about 3 weeks.
The only thing more hilarious than some people thinking that short-lived higher GIC rates are somehow a bait-and-switch (which is not the case -- a bait-and-switch is something completely different), is some people here who have MILLIONS in savings but are allergic to fees. Sure, it's wise to minimize or better yet avoid fees. But the lengths that some people go is borderline pathological. I pity the CSRs who have to deal with them. 
5:31 pm
March 15, 2019
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cristunity said
some people here who have MILLIONS in savings but are allergic to fees. Sure, it's wise to minimize or better yet avoid fees. But the lengths that some people go is borderline pathological.
Unless they won the lottery, married rich and/or come from a wealthy family, there's a reason why they have $millions. Remember that the mighty oak tree grew from a little nut. LOL!
7:48 pm
April 14, 2021
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cristunity said
The only thing more hilarious than some people thinking that short-lived higher GIC rates are somehow a bait-and-switch (which is not the case -- a bait-and-switch is something completely different), is some people here who have MILLIONS in savings but are allergic to fees. Sure, it's wise to minimize or better yet avoid fees. But the lengths that some people go is borderline pathological.
COIN said
Unless they won the lottery, married rich and/or come from a wealthy family, there's a reason why they have $millions. Remember that the mighty oak tree grew from a little nut. LOL!
Exactly. Their daily habits and attitude likely contributed highly to their amassed wealth.
6:39 am
July 18, 2017
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HermanH said
Exactly. Their daily habits and attitude likely contributed highly to their amassed wealth.
Perhaps at one time they were pragmatic habits. But now they are just an obsession. To use Coin's metaphor, the mighty oak behaves like a mighty oak. If it behaves like an acorn, then it's neurotic.
Nothing wrong with being frugal and prudent. But some people take it too far -- it's really no longer about the money (regardless of what they tell themselves and others). It's psychological.
In my view, having wealth should actually liberate you from having to obsess about money. Otherwise, what is the point?
7:43 am
September 11, 2013
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The point is you need to do something every hour of your life, need things to do in our leisure society. Some people, at all income levels, like to spend time getting some more money, whether it's a few bucks or lots of them. No real harm to anyone else in having that as a "hobby", I suppose, if that's what you like to do with your life's time.
To me a promo rate is one that is clearly identified as such by the offerer. All the rest are just regular rates that can change at any moment and everybody knows that likelihood increases the more a particular rate stands out from the pack.
7:42 pm
December 12, 2009
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I'd also add to the OP's question that we don't add credit unions or banks to the comparison chart (HISA and GIC) if they are limited to residents of a certain province only. We can, however, list any province-specific time-limited GIC or HISA promo offers on the "promos" page. 🙂
Cheers,
Doug
9:08 am
July 18, 2017
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Doug said
I'd also add to the OP's question that we don't add credit unions or banks to the comparison chart (HISA and GIC) if they are limited to residents of a certain province only.
I disagree with this. This isn't the US -- there are only 10 provinces. A simple notation on the chart can say if an FI is only accessible to residents of a specific province.
We are all here to try and maximize our money in one way or another. Not including this information on the chart seems needlessly anal retentive to me. Yes, sometimes charts get a little bit complicated. We're all intelligent adults, we can handle this.
Please write your comments in the forum.