18 month GIC promo is 2.5% | Tangerine Bank | Discussion forum

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18 month GIC promo is 2.5%
March 16, 2022
8:29 am
frugal lady
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18 month GIC promo is 2.5% for savings, RSP, RIF, tax free

March 16, 2022
9:07 am
Bill
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Today media reporting latest yearly inflation rate running at 5.7%, a 30-year high. Might be helpful to assess how good or not savings rates are right now.

March 16, 2022
9:53 am
Dean
Valhalla Mountains, British Columbia
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.

    What Bill said ⬆

These higher SA & GIC interest rates look enticing, until you do the math ...

    Example:
    (2.5% Interest Rate) - (5.7% Inflation Rate) = -3.2%

Yes, in spite of these higher interest rates, our SA & GIC $$$ continue to
go 'Backwards'. sf-confused

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

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