90 DAY RRSP & TFSA GIC'S DOWN TO 1% | Tangerine Bank | Discussion forum

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90 DAY RRSP & TFSA GIC'S DOWN TO 1%
April 1, 2012
7:07 am
JGSB
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JUST REVIEWED SITE. RATES HAVE BEEN REDUCED FROM 2.5% FOR 90 DAYS TO 1.0%.

April 1, 2012
9:34 am
phrank
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Forum Posts: 314
Member Since:
January 3, 2009
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These greedy banks make me sick, the prime rate hasn't gone done in nearly 2 years, but they continue to lower their rates to the customers and increase their profit margin. When will enough be enough? I'm going to start moving my funds out of ING.

April 2, 2012
4:04 pm
Yatti420
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I think ING always runs that promo every year.. I have a thrive chequing account.. I like it so far.. I'm gonna keep my savings elsewhere though..

April 2, 2012
5:48 pm
Bob
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I opened myself 90 day GICs for the funds in my ING TFS and RSP accounts on March 30 when the rates were still 2.5%. When they come due, I will probably move my money to a discount broker.

April 4, 2012
9:39 am
gaby1
Canada
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Forum Posts: 5
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November 29, 2011
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Me too RSP account, have to move it Bob please tell me which discout brookers are best, please e_mail me or reply here. Thanks

April 4, 2012
6:27 pm
cmore
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I like the research and pricing offered through Credential Direct. They are a partner with Credit Unions and can be found at http://www.credentialdirect.com or through a link found at the Achieva Financial web page.

April 4, 2012
6:51 pm
Bob
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Gaby I use BMO CIBC and DIsnat for discount brokers. Even though its web platform is horrible, at $6.95 per trade CIBC is cheapest therefore I will likely move my ING funds there, unless Disnat offers another $300 promotion for $50,000 asset transfers.

April 4, 2012
7:07 pm
msl
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Honestly i dont see any place to invest $$$ with return rates more than 3% other than the stock market (ETF, mutual funds, index funds, and whatever i dont understand trading practices) with its risks. regular or high interest savings account / RRSPs / TFSA / GICs can't offer that much no matter where we lend our money. so if you are in the conservative side, then just keep on saving some of your income even if the interest rate is no good.

April 4, 2012
7:31 pm
88kanaka
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gaby1 said:

Me too RSP account, have to move it Bob please tell me which discout brookers are best, please e_mail me or reply here. Thanks

I started with TradeFreedom (owned by Bank of Nova Scotia) @ 7.99 a trade, then BNS merged all 3 of their brokerage into iTrade and the rate went to 19.99 and they just did some magnificent upgrades (lol) and they slipped in another 25% increase to 24.95 per trade while tooting their horn ... I guess I was not supposed to notice!!! As I am not a trader with a lot of trades I have to pay the going rate, which is lower than a full line brokerage ..... but 7.99 to 19.99 to 24.95 is just plain GREED!!!!

Would like to hear from others what they are paying for a few trades a year.

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