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Email this1:31 pm
November 8, 2018
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Hi Alexandre,
Higher interest rates can be good news for your savings – especially with the security of a great GIC!
For a limited time, you can earn 2.75%* when you open a 180 day non-registered GIC and fund it by January 2, 2026.
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While I do agree with the first part of email I've got from Tangerine, I'm not impressed with their definition of "amazing." I'll pass.
2:38 pm
October 27, 2013
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WADR, why isn't 2.75% or so not a good rate for a short term (<1 year) deposit? That is 50bp higher than the Bank of Canada rate and few HISAs are anywhere near 2.75% today. I don't think anyone can expect more for months, maybe years, to come.
P.S. I do realize there are some higher promo teaser rates here and there that folks can chase.
3:17 pm
January 12, 2019
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.
Five other recent 180 Day Non-Registered GIC Rates:
- - EQ @ 2.80%
- Meridian @ 2.25%
- Oaken @ 2.25%
- Peoples @ 2.30%
- Saven @ 2.85%
.
So 2.75% @ Tangerine ain't All that bad !
- Dean
" Live Long, Healthy ... And Prosper! "
4:45 pm
November 8, 2018
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2.75% for short term GIC may not be bad nowadays, but it is far from amazing in my opinion.
Currently my short term funds are with EQ HISA at their 2.75%. I also have accounts with Oaken, both Trust and Bank, each offering 2.8% for HISA.
This puts Tangerine offer at 4-th place: 2.75%, with funds locked. 4-th place is not that bad, but it is not even a medal in most of sports. Far from amazing.
5:21 pm
August 4, 2010
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There's also the handy Hubert cashable quarterly GIC (currently 3.4%). Cash it in after 6 months and the staggered rates return you 3.2%. Aside from short-term transactional needs , if I want to park bigger chunks I tend to use that.
6:18 am
February 7, 2019
Online
NorthernRaven said
There's also the handy Hubert cashable quarterly GIC (currently 3.4%). Cash it in after 6 months and the staggered rates return you 3.2%. Aside from short-term transactional needs , if I want to park bigger chunks I tend to use that.
Looks like Hubert tightened up their quarterly rates again. Thanks for pointing that out.
A long time ago, the 1Yr Quarterly at 3.4% would have meant 3.25/3.35/3.45/3.55% in each of the 4 quarters averaging 3.4%.
Then it became 2.65/3.15/3.65/4.15% still averaging 3.4% but definitely less attractive if cashing early.
Now the 3.4% is somewhere in between at 3.1/3.3/3.5/3.7%.
| CGO |
7:14 am
November 5, 2022
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Tang calls every offer Amazing.
7:01 pm
November 18, 2017
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cgouimet: and that steeper quarterly curve means less total interest even if held to maturity: the lower early quarters will not yield as much cash to earn the higher rates later.
RetirEd
3:26 am
February 7, 2019
Online
RetirEd said
cgouimet: and that steeper quarterly curve means less total interest even if held to maturity: the lower early quarters will not yield as much cash to earn the higher rates later.
A little bit. The calc on $10k compounded quarterly ...
| CGO |
9:06 pm
November 18, 2017
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Just how much depends on the rates and amount. But it will always be deceptive to talk about "average interest rates." Remember that this also applies to ANNUAL escalator rates. And there's no difference at all if the rates aren't compounded, of course.
RetirEd
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