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270 Day GIC 2.30%
February 4, 2020
7:04 am
hwyc
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Some movements on Tangerine GICs rates today.

270 Day Guaranteed Investment 2.30% (up from previously 2.15%)
Tax-Free option not a bad idea for maturity by December sf-smile

Also noted
1 Year Guaranteed Investment 2.10% (down from previously 2.15%)
1½ Year Guaranteed Investment 2.15% (down from previously 2.2%)

February 4, 2020
8:28 am
Dean
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.
It's Sad, really sf-confused

Tangerine's rates continue to Disappoint ... and remain Uninspiring.

sf-cool " Live Long And Prosper " sf-cool

February 4, 2020
9:34 am
hwyc
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Is 2.30% not the best rate in the tax-free short-term GIC ( < 1 year ) category ?

It is also the equivalent of ~3.54% in the non-registered category, assuming a combined personal income tax rate of 35%

February 4, 2020
11:24 am
krwilson
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As an example here are EQ Bank's GIC rates as of today.eqbank_gic.jpg

February 4, 2020
11:36 am
hwyc
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krwilson said
As an example here are EQ Bank's GIC rates as of today.

... Unfortunately, EQ do not currently offer TFSAs.

February 4, 2020
12:28 pm
hwyc
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Oops. 2.50% Oaken beats Tangerine sf-frown

… Oh wait. Oaken do not offer short term TFSA either.

February 4, 2020
2:47 pm
LeBronBMT
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hwyc said
Is 2.30% not the best rate in the tax-free short-term GIC ( < 1 year ) category ?

It is also the equivalent of ~3.54% in the non-registered category, assuming a combined personal income tax rate of 35%  

Motive has a 2.4% TFSA savings account. Access CU has a 2.7% variable TFSA savings account. Steinbach CU has a 2.65% variable TFSA savings account. Rosenort CU offers 2.6% TFSA savings account and 2.9% for over 250k.

February 4, 2020
5:48 pm
Oscar
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Alterna Bank has 1 year @2.4 % TFSA

February 4, 2020
7:06 pm
Bill
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1 year rate in TFSAs is not a comparable as then you're stuck next Feb with whatever rate they offer whereas Tangerine's only locks you for about 9 months so you're free to remove before year-end to then recontribute where you want in 2021, as hwyc points out. Also savings account rates are not comparables either because those rates are not guaranteed.

Tangerine had to do something, I withdrew my over $6K TFSA with them on Feb 1 so they had to stop the bleeding!

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