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HISA rate at 0.7%
November 28, 2023
12:43 pm
The Rock
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The Tangerine HISA rate continues to drop. It's now at 0.7%.

November 28, 2023
1:05 pm
Dean
Valhalla Mountains, British Columbia
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.
Ridiculously Low, by our standards ... but better than the Big Banks. sf-smile

    Dean

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

November 28, 2023
1:13 pm
Itellyouwutt
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Dean said
.
Ridiculously Low, by our standards ... but better than the Big Banks. sf-smile

    Dean

  

lol banks like Tangerine spend an inordinate amount of time trying to 'build client loyalty,' and then they pull stunts like this. The intent here is obvious: expect clients not to realize what interest rate they're getting. But then if they do happen to notice and complain, pull the old "it's still better than the big banks" line...which is like saying the Leafs are a great playoff team because the Sabres are a tire fire. It's all relative I guess.

November 28, 2023
1:20 pm
Wrayzor
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Who keeps $$ at Tangerine without a promo rate?

"Belter" is a new term to me, but seems to fit.sf-wink

November 28, 2023
1:29 pm
Itellyouwutt
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Wrayzor said
Who keeps $$ at Tangerine without a promo rate?

"Belter" is a new term to me, but seems to fit.sf-wink  

As in "below the belter" rate? I like it! sf-laugh

You'd be shocked at the number of people who keep $ at Tangerine without the promo rate, how much they keep, and for how long. Some folks have a matured GIC, others sold a house or received an inheritance and have been manipulated to believe that parking the $ at Tangerine is 'wiser' than a big bank (Tangerine loves using "5x higher" and "300% higher" in its marketing instead of actual numbers, because then some people might perk up and go wth is this).

The people who frequent this site are not representative of the general population. There are some people who have 6 and even 7 figures right now sitting in a big bank 'savings' account earning .5 (plus they are paying monthly bank fees...how's that for belter???)

November 28, 2023
4:27 pm
thegov
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Curious as Tangerine part of Scotia. At ITrade can still get ISA at 5% - hasn't moved since August. Mind you the GICs offered there are .1 - .15 below those offered at TD or BMO brokerages - a significant reversal from 3 months ago -- and the actual Scotia GICs are particularly low. Markets didn't seem to like their results today.

November 28, 2023
4:42 pm
dougjp
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thegov said
Curious as Tangerine part of Scotia. At ITrade can still get ISA at 5% - hasn't moved since August. Mind you the GICs offered there are .1 - .15 below those offered at TD or BMO brokerages - a significant reversal from 3 months ago -- and the actual Scotia GICs are particularly low. Markets didn't seem to like their results today.  

Re: the markets and BNS shares, a 7%+ (favorable tax treatment) dividend yield is awfully tempting if you can believe the stock will spend more time below than above where it sunk to today....sf-wink oh, and that a Canadian big 5 bank won't cut dividends.

" We may never pass this way again " - Seals & Crofts

November 28, 2023
11:58 pm
maxifunds
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They went to 0.8 from 1.0 then just days later 0.7%.
My benchmark minimum has always been Tangerine.
They should at least be the "best" of the brand banks.
I used to mock the old CEO opn twitter when they got lower than Desjardins (quebec) that it was really bad for their brand.
Days later they where "equal".

Today :
Dejardins HISA is at 1.7%
Tangerine 0.7%

What has the world come to 🙁

Open to good suggestions on Moving my money out of Tangerine, but i want better than 1.7% (Desjardins).

Of course the "Top" i can get in Quebec is WealthSimple but i am not to confident.
What would be a good middle groud of great service and good rates ? [In Quebec - Reminder]

Maxifunds

November 29, 2023
6:44 am
Itellyouwutt
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maxifunds said
They went to 0.8 from 1.0 then just days later 0.7%.
My benchmark minimum has always been Tangerine.
They should at least be the "best" of the brand banks.
I used to mock the old CEO opn twitter when they got lower than Desjardins (quebec) that it was really bad for their brand.
Days later they where "equal".

Today :
Dejardins HISA is at 1.7%
Tangerine 0.7%

What has the world come to 🙁

Open to good suggestions on Moving my money out of Tangerine, but i want better than 1.7% (Desjardins).

Of course the "Top" i can get in Quebec is WealthSimple but i am not to confident.
What would be a good middle groud of great service and good rates ? [In Quebec - Reminder]

Maxifunds  

I believe EQ is available for customers in Quebec. For the last couple of years they've been in the 2.5-3% rate or so on their HISA.

Their HISA rate is not a promo. So while it does change, it's maybe once a year (or sometimes less).

You can also link your Tangerine chequing account in EQ, and push/pull funds. EQs hold policy is excessively long (I believe 7 business days starting the day after they get the $), but that may not be an issue for you.

If you only have a Tangerine savings account, then you can easily open a chequing account for free. There are no fees and you can simply use it to push/pull funds into EQ.

November 29, 2023
5:20 pm
BlueSky
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maxifunds said

Open to good suggestions on Moving my money out of Tangerine, but i want better than 1.7% (Desjardins).

Of course the "Top" i can get in Quebec is WealthSimple but i am not to confident.
What would be a good middle groud of great service and good rates ? [In Quebec - Reminder]

 

It all depends on what you are looking for, checking, savings, etc. Previously mentioned, Oaken is decent and fair. Last time I checked, their SA rate stood at 3.4%. They are not offering a TFSA account, and probably never will. Having said that, 3.4% is not much compared to GICs, which they offer, reg. and non-reg.. If they hike GICs rates they backtrack it 7 days to all who purchased them and give those customers the higher rate. WS is currently at 4%, up to 100K, you get a bit more if you exceed that amount, but if you drop below you would lose the extra rate offered. Also you must commit to 365 days of funds kept in the cash account. They are more fans of the app than the web version. I personally don't like their app design, I find it cumbersome. I kept some money with them for several days, but then, Tang offered 6%. Aside of these options, you have the MB credit unions. Again, you have options, but it depends what you are looking for.

November 29, 2023
7:01 pm
BTC
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Itellyouwutt said
If you only have a Tangerine savings account, then you can easily open a chequing account for free. There are no fees and you can simply use it to push/pull funds into EQ.  

The savings account itself is already sufficient to push/pull funds into/from EQ.

November 29, 2023
7:04 pm
Itellyouwutt
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BTC said

The savings account itself is already sufficient to push/pull funds into/from EQ.  

Yes sorry, you are right. I was confused with another FI.

December 1, 2023
4:49 am
NokomisStation
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For the keeners in the crowd, the second rate change in the month of November for the Savings Account was effective November 25, 2023 to 0.7%.

https://www.tangerine.ca/en/rates/historical-rates

December 1, 2023
5:46 am
The Rock
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maxifunds said

What would be a good middle groud of great service and good rates ? [In Quebec - Reminder]

Maxifunds  

Achieva Financial at 3.4%. I've been with them for 11 years without issues. There's also promos for Quebec. Manulife Bank has a 5.25% promo and CIBC has 5.6% promo.

December 2, 2023
9:52 am
Doug
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Dean said
.
Ridiculously Low, by our standards ... but better than the Big Banks. sf-smile

    Dean

  

But almost no one gets that rate alone, as most people are either on a perpetual, rolling retention-based promotional interest rate, or a targeted promotional interest rate offer that is even often including existing balances that everyone usually gets about 6 months of the year.

December 4, 2023
6:58 am
Itellyouwutt
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Doug said

But almost no one gets that rate alone, as most people are either on a perpetual, rolling retention-based promotional interest rate, or a targeted promotional interest rate offer that is even often including existing balances that everyone usually gets about 6 months of the year.  

No. Many people are getting .7% and have no idea they might be earning 8-9x more from the SAME bank, or guaranteed at another bank.

And there are even more people who are earning .5% or so from a big bank. Think seniors, students...all kinds of people.

The people on this board are not representative of the general population. You only have to go on RFD or Reddit to read some comments about GICs or HISAs to realize just how uninformed many people are (not blaming them, just calling it what it is).

Hell, just look at how many people are getting drilled by mutual fund management fees in their RRSPs? And honestly, I was one of them many years ago.

The only cure for this is sharing information as widely as possible, so that people start asking questions and becoming aware of their options. Sites like this are good for that.

December 4, 2023
8:15 am
The Rock
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Itellyouwutt said

Hell, just look at how many people are getting drilled by mutual fund management fees in their RRSPs? And honestly, I was one of them many years ago.

I have never and will never pay mutual fund fees. Do it yourself by buying an Index fund such as S&P 500 and pay a tiny 0.03% expense ratio.

June 17, 2024
9:17 am
hwyc
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The Tangerine Savings Account(s) rate is at 0.60% ... their rate history page is no longer available 🙁

June 17, 2024
10:29 am
Dean
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.
Hwyc . . .

I could be wrong (it wouldn't be the first time sf-smile), but because of their very low basic SA rate, I don't think Tangerine has Ever been on the HISA Chart.

So there would no SA rate history to record.

    Dean

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

June 17, 2024
10:47 am
hwyc
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Dean, I am talking about the rate history page on Tangerine.CA ... not the rate history page(s) on HighInterestSavings.CA

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