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

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
18 month GIC promo is 2.5%
March 16, 2022
8:29 am
frugal lady
Member
Members
Forum Posts: 148
Member Since:
February 20, 2013
sp_UserOfflineSmall Offline

18 month GIC promo is 2.5% for savings, RSP, RIF, tax free

March 16, 2022
9:07 am
Bill
Member
Members
Forum Posts: 3161
Member Since:
September 11, 2013
sp_UserOfflineSmall Offline

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
Member
Members
Forum Posts: 1124
Member Since:
January 12, 2019
sp_UserOfflineSmall Offline

.

    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 And Prosper " sf-cool

Please write your comments in the forum.