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GIC Rates Changed
June 6, 2023
6:51 am
GR
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New non-registered and registered GIC rates are up and down. 1 year increased to 5.0%, but longer terms decreased.

https://www.tangerine.ca/en/products/saving/guaranteed-investments/guaranteed-investment

June 6, 2023
8:42 am
Dean
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.
A Tangerine GIC that pays 5.00% interest ❗ sf-surprised

That Must be from an 'Alternate Universe'.

LOL sf-laugh

    Dean

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

June 7, 2023
5:02 am
hwyc
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Oops ... wrong thread

June 16, 2023
3:02 am
hwyc
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1-year 5.25%
18-month 5.50% !


18-month term is TFSA tactical till end of June sf-smile

…refer to charts for rest

June 16, 2023
5:56 am
cgouimet
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Dean said
.
A Tangerine GIC that pays 5.00% interest ❗ sf-surprised

That Must be from an 'Alternate Universe'.

LOL sf-laugh

    Dean

  

Now 5.25-5.5%!

CGO
June 16, 2023
6:50 am
dougjp
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hwyc said
1-year 5.25%
18-month 5.50% !


18-month term is TFSA tactical till end of June sf-smile

…refer to charts for rest
  

Excellent timing, both the 18 month rate and that most important expiry timing shift to December.

"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green

June 16, 2023
8:46 am
Dean
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hwyc said

Oops ... wrong thread  

.
. . . How Dare You ❗❗ sf-yell
.

    Dean sf-wink

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

June 16, 2023
8:47 am
cgouimet
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I bought one of each 12 & 18mo. Took all but 5 minutes online.

Then we called to make them joint. We have done this many times before. I was amazed at the hold time of less than 30 seconds.

But then it all went South! I don't know if Tangerine were having system problems today or if they changed their processes or if it was because of this very difficult to understand CSR but it took 40 minutes to convert these two GIC's to Joint. Even my most patient spouse was getting impatient.

Most likely the last GIC's I'll ever buy at Tangerine ...

CGO
June 16, 2023
9:39 am
hwyc
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Never say "ever" … there are only so many banks in Canada … eeny, meeny, miny, moe

Just do a "pause"!

June 16, 2023
9:39 am
cgouimet
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cgouimet said
I bought one of each 12 & 18mo. Took all but 5 minutes online.

Then we called to make them joint. We have done this many times before. I was amazed at the hold time of less than 30 seconds.

But then it all went South! I don't know if Tangerine were having system problems today or if they changed their processes or if it was because of this very difficult to understand CSR but it took 40 minutes to convert these two GIC's to Joint. Even my most patient spouse was getting impatient.

Most likely the last GIC's I'll ever buy at Tangerine ...  

Unless I go senile and start welcoming new experiences...

CGO
June 16, 2023
9:46 am
Loonie
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When I reach a CSR whom I can't understand, I just politely say "I can't understand you", hang up, and start again. It saves me a lot of aggravation, and I usually do better on the second call. For me, it's worth waiting in line again.

June 16, 2023
10:25 am
HermanH
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You can also just ask the CSR to put you back into the pool/queue for the next operator. That usually avoids the long wait time.

June 16, 2023
12:58 pm
savemoresaveoften
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cgouimet said

Now 5.25-5.5%!  

Thanks for the heads up !

June 16, 2023
1:41 pm
Loonie
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HermanH said
You can also just ask the CSR to put you back into the pool/queue for the next operator. That usually avoids the long wait time.  

... in theory, at least, but I don't look forward to trying to explain this request to someone who is hard for me to communicate with!

June 16, 2023
4:06 pm
victor6433
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June 17, 2023
8:48 am
davidgeorge
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I opened a 18 month GIC yesterday and called them to make the account joint. I waited for about 30 minutes to have someone pick up the phone. I was then transferred to another CSR and spent about 10 more minutes to make the account joint.

June 17, 2023
9:08 am
cgouimet
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davidgeorge said
I opened a 18 month GIC yesterday and called them to make the account joint. I waited for about 30 minutes to have someone pick up the phone. I was then transferred to another CSR and spent about 10 more minutes to make the account joint.  

Wait time "worser" than me but process time much "gooder"!

CGO
June 26, 2023
9:10 am
ca-tech-fire
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dougjp said

Excellent timing, both the 18 month rate and that most important expiry timing shift to December.  

dougjp, how do you see the 18 month expiry being in December as being important?

I almost feel like having it finish in December of the same year is a burden on my taxes since this is not in a registered account.

Also I have the 5.25% daily interest offer that expires end of July. I am hesitant to lock in the 18 months until then, but I don't know how long this 18 month rate will be around for.

June 26, 2023
9:36 am
dougjp
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ca-tech-fire said

dougjp, how do you see the 18 month expiry being in December as being important?

I almost feel like having it finish in December of the same year is a burden on my taxes since this is not in a registered account.

Also I have the 5.25% daily interest offer that expires end of July. I am hesitant to lock in the 18 months until then, but I don't know how long this 18 month rate will be around for.  

This was in response to hwyc's post that I quoted, and specific to TFSA only. It doesn't sound like, from your comments, that it pertains to your situation.

IMO, TFSA GIC investor's need to get to a 'Plan B' alternative exit strategy that isn't paying fees and/or putting the timing in the hands of a bank losing your business, or withdrawing from the TFSA tax shelter on interest for more than a brief period. Probably most TFSA GIC buyers do so in January, but that's the worst as they are 'trapped' with that bank.

"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green

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