Tangerine 3.65% offer, June 6 to August 31, 2025 | Tangerine Bank | Discussion forum

lucky u, mine is 3.5%...

COIN: Nobody CDIC-insured lost a penny or access to their money after the sale of Home Trust. I don't know what went on with PACE, though there seems to have been a good deal of conflict.

PACE CU wasn't bought out. It is still around and being liquidated.

As of January, KPMG hasn't determined the recovery rate yet:

January 15, 2025 update: the liquidation proceedings of PACE are ongoing. At this time, the Liquidator is continuing to work through claims received as part of the claims process approved by the Court. Certain of these claims may require litigation and/or other legal steps. Until there is a resolution or determination of all claims, the Liquidator cannot accurately determine recoveries that may be available for holders of investment and profit shares of PACE.

Home Trust was not sold. It recovered from its near-death experience.

After PACE and HOME, please tell me MERIDIAN is safe. 4.8% is good only if one gets paid.

Are here any rumours on the street about Meridian? I think the street was talking about PACE before it actually blew up.

RetirEd said
Norman1: Home Trust is owned by Home Capital, which in turn is owned by Smith Financial since they bought it a couple of years ago. We discussed this on CHISA when it happened, no?

Home Trust is a high-risk/high-profit mortgage lender. It suffered a scandal and purge when many of its broker partners were accused of document fraud in issuing mortgages and loans. Warren Buffet's intervention saved it at that time but Smith came in afterward.
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Smith Financial made their bid for the Home Capital group years after Home Trust had recovered. It wasn't a rescue.

Home Trust had repaid Berkshire's line of credit and Berkshire sold the shares from its rescue long before the bid.

Home Trust had internal and external issues. Internally, some of its most productive loan underwriters were phantom ticking. Those employees were ticking the income verified boxes on the loan applications without actually doing the veifications!

I suspect some of the mortgage brokers realized that when questionable applications they submitted actually got approved by Home Trust. Instead of blowing the whistle to Home Trust management, the brokers exploited the compromise.

Got the email notification yesterday:

Here’s what else you need to know:

You’ll earn 3.65%* interest from July 1, 2025 until September 30, 2025
This will apply to existing and new Tangerine Savings Account(s), including RSP, TFSA and US$
This will apply to the new money you brought to your Account(s) since April 3, 2025

Remember to activate your special rate and keep your new deposits in place to make the most of your offer.

I presume this only refers to my Savings balance on April 3 and not Chequing. On April 3, my Savings balance was $6.95 as I'd moved everything out at the beginning of February when I did not get an extension.
I wish that, at some point, they would actually give you the balance figure.

Since Jan 2022, my wife and I have had uninterrupted TNG offers. My last one ended May 31st. Her current one is ending Jun 30. Over the next few days our TNG HISA balances will be near 0.

One of us could use a good offer in the next few days ...

Just got a 3.65% Tangerine offer from July 1, 2025 to September 30, 2025 for new money as of my April 2, 2025 balance. I checked on July 1st and July 2nd before the offer appeared today July 3rd. This is why I always clear out my balances before the expiry of any offers from Tangerine (I usually leave $100). This is the second offer in a row as the previous offer was from April 3, 2025 to June 30, 2025 - which also used the end of day balance as of April 2, 2025. I have only missed one period (Feb to Mar'25) where I have not had my money in a special offer from Tangerine since Jan'23.