After not receiving the 3.00% or 2.75% offers in January, I just got a 2.75% offer when logged in to my Tangerine account:
New deposits to your Applicable Accounts from March 5, 2019 to August 31, 2019 will earn your special rate of 2.75%
We’ll total up the balances of your eligible Savings, TFSA and RSP Savings Account(s) as they were on March 4, 2019 to get your total balances per Account Type
From March 5, 2019 to August 31, 2019, you’ll earn your special interest rate on new deposits over your total balances calculated on March 4, 2019 (up to $1,000,000 per Account Type)
The rest of your Account balance will earn the current posted rate
October 11, 2015
October 21, 2013
December 12, 2009
So, they're back to that "new money" thing, are they?
I hope you emptied out your account, Peter.
Yeah, I agree, Loonie...I think these targeted promos and "net new money" promos generally are, finally, losing their lustre. Tangerine has been pleasantly back in the GIC market in a major way, with very compelling interest rates that are between 10 and 50 bps (0.1-0.5%) of the best available rates on the market. If people can get a comparable 1 year cashable GIC or 1 year quarterly GIC rate that's comparable (within 20-30 bps of the average of 4 quarterly targeted HISA promo offers), then I think it's just much more simple to go with that. Plus, if you're "giving up" 10-20 bps by supporting a local credit union, the profits you help the credit union to generate are generally put to a much greater use in the credit union's local community/service area. Intrinsically, you're also helping that credit union to do its part in preventing that rural area community's decay and population decline.