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RSP/RIF/TFSA 'Cash Bonus' Offer Ends March 1st
February 19, 2021
5:28 am
Bill
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Money's been heading to the markets for a while now, with GIC buyers faced with renewal at super-low rates they're offering a bit of a carrot to go with that flow. As average Tangerine GIC customer is probably not a super-sophisticated investor aware of all the similar, cheaper options out there it's maybe a smart move.

February 19, 2021
5:58 am
savemoresaveoften
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With longer term rates so low, as GIC matures, I imagine quite a few wont renew to another GIC, or determines to put it into the stock market given the risk/reward.
This makes the deposit base less predicatable for FI, and in turn makes promo offer for HISA more probable. HISA is the last place for somewhat acceptable return for your cash these days. Anything less than 2%, may as well take the risk and dump it into blue chip dividend stocks.

February 19, 2021
11:34 am
Dean
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savemoresaveoften said

With longer term rates so low, as GIC matures, I imagine quite a few wont renew to another GIC, or determines to put it into the stock market given the risk/reward.
This makes the deposit base less predicatable for FI, and in turn makes promo offer for HISA more probable. HISA is the last place for somewhat acceptable return for your cash these days. Anything less than 2%, may as well take the risk and dump it into blue chip dividend stocks.  

BEWARE ❗❗

Much of the stock market is Overbought now, and in 'Bubble Territory'. Like many others, I too am selling and taking my profits to the sidelines ... before it's too late.

Govern Yourself Accordingly,

    Dean

sf-cool " Live Long And Prosper " sf-cool

February 19, 2021
12:24 pm
Norman1
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savemoresaveoften said
… Anything less than 2%, may as well take the risk and dump it into blue chip dividend stocks.

That kind of flawed decision making is called reaching for yield. People reaching for yield end up making really stupid decisions. I have some really nice looking stock certificates for preferred shares of a failed trust company to remind me of how stupid it can look in hindsight.

Falling yields on GIC's don't make stocks any more suitable. Either dividend paying blue chip stocks were suitable or they were not.

If they were suitable, then it was a blunder to have all that money in GIC's for those years and miss the higher returns from the stocks. If they were not, then the money should remain in GIC's.

There's nothing in GIC or bond laddering that says "ladder unless the yield is under 2%."

February 19, 2021
4:26 pm
Rick
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savemoresaveoften said
With longer term rates so low, as GIC matures, I imagine quite a few wont renew to another GIC, or determines to put it into the stock market given the risk/reward.
This makes the deposit base less predicatable for FI, and in turn makes promo offer for HISA more probable. HISA is the last place for somewhat acceptable return for your cash these days. Anything less than 2%, may as well take the risk and dump it into blue chip dividend stocks.  

Yeah...my 2% promo is up Feb 28. The funds will be out of Tang on the 26th unless another offer arrives before then.

February 19, 2021
11:02 pm
RetirEd
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The federal decision to allow banks and trusts to buy investment brokers and insurance companies a couple of decades ago pretty much wiped out many of the players in those fields. The banks, sitting on huge pits of low-interest cash, bought out almost the entire industry, particularly investment houses. Banks had traditionally paid low yields because of their security - though those yields and spreads are getting better for them all through the time since.

As has been noted, selling mutual funds makes life easy for the banks: they get their cut (and so do the salesthings) no matter which way the investments go, and they don't have to make risky calls on rates or defaults. The trend has been so profitable that the banks have spent most of their time since inventing new fees and charges rather than trying to get spread out of borrowing/lending.
RetirEd

February 20, 2021
3:54 am
Loonie
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Norman1 said

savemoresaveoften said
… Anything less than 2%, may as well take the risk and dump it into blue chip dividend stocks.

That kind of flawed decision making is called reaching for yield. People reaching for yield end up making really stupid decisions. I have some really nice looking stock certificates for preferred shares of a failed trust company to remind me of how stupid it can look in hindsight.

Falling yields on GIC's don't make stocks any more suitable. Either dividend paying blue chip stocks were suitable or they were not.

If they were suitable, then it was a blunder to have all that money in GIC's for those years and miss the higher returns from the stocks. If they were not, then the money should remain in GIC's.

There's nothing in GIC or bond laddering that says "ladder unless the yield is under 2%."  

Very important point above, so I have put it in bold and repeated it.

There is no law that says another investment will necessarily be better just because the first one doesn't look exciting.

February 20, 2021
11:02 am
pooreva
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Rick said
Yeah...my 2% promo is up Feb 28. The funds will be out of Tang on the 26th unless another offer arrives before then.  

I doubt you will get New offer. You might get retention offer on all funds currently at Tang as mentioned by few board members; it will be most likely less than 2% but better than current HISA rates at other FI.
You might get new offer in a 6 or more months.

February 20, 2021
11:14 am
Kidd
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Hi PoorEva.

I'll be expecting... at a minimum, 1.8% on all deposits. Otherwise, i move on. So, no more negative waves.

February 20, 2021
12:19 pm
Rick
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Kidd said
Hi PoorEva.

I'll be expecting... at a minimum, 1.8% on all deposits. Otherwise, i move on. So, no more negative waves.

Love that movie

February 20, 2021
12:30 pm
Rick
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pooreva said

I doubt you will get New offer. You might get retention offer on all funds currently at Tang as mentioned by few board members; it will be most likely less than 2% but better than current HISA rates at other FI.
You might get new offer in a 6 or more months.  

Yeah...but it's Tang so no guarantees on anything. They used to roll them out back to back. Not so much anymore

untitled1.jpg

February 21, 2021
9:22 am
Dean
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.
Just a quick reminder . . .

This latest Tangerine 'Cash Bonus' offer (see Post #1) has Nothing to with Tangerine SA's or GIC's.

Cheerio sf-laugh

    Dean

sf-cool " Live Long And Prosper " sf-cool

February 21, 2021
9:57 am
Bobbyjet11
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pooreva said

I doubt you will get New offer. You might get retention offer on all funds currently at Tang as mentioned by few board members; it will be most likely less than 2% but better than current HISA rates at other FI.
You might get new offer in a 6 or more months.  

I have the same promo (2% ending at end of Feb). Called Tangerine for an extension and was offered 1.3% for 120 days. Told them thanks but no thanks. Now waiting for my Canadian Tire HIS application to be processed.

February 22, 2021
11:07 am
Ed
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Bobbyjet11 said

I have the same promo (2% ending at end of Feb). Called Tangerine for an extension and was offered 1.3% for 120 days. Told them thanks but no thanks. Now waiting for my Canadian Tire HIS application to be processed.  

My 2% promo also ends on Sunday. Spoke with Tangerine a few weeks back and was offered 1.4%. Today, I pushed out $50k (daily limit) from Tangerine to the Canadian Tire Bank. Tangerine’s outbound EFT limit is $300k/week.

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