March 2019 targeted offer | Tangerine Bank (formerly ING Direct) | Discussion forum

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March 2019 targeted offer
March 9, 2019
4:40 pm
Peter
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May 15, 2007
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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

March 9, 2019
5:46 pm
dentgal
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October 11, 2015
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Thank you, Peter. I logged in and got the same offer.
Sadly, I missed the 3.3% 2 yr GIC from EQ:(. Now it's 2.85%.

March 9, 2019
10:57 pm
Loonie
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So, they're back to that "new money" thing, are they?
I hope you emptied out your account, Peter.

March 10, 2019
9:05 am
Doug
British Columbia, Canada
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Loonie said
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. sf-cool

Cheers,
Doug

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