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Tangerine Bank - 2.00% interest till 2022 Apr 30
December 6, 2021
1:22 pm
Alexandre
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Kidd said

2% on new tangerine deposits. December 2021 you give them $50,000, new money.
January 2022 a tangerine $20,000 gic matures. This is NOT new money.
So in your savings you now have a total of $70,000. $50,000 paying 2% and $20,000 paying 0.1%. You pull $20,000 out. Are you pulling $20,000 at 2% or $20,000 at 0.1%?  

If these are true numbers, I would look at that from the different angle. Instead of pulling out $20K I'll deposit additional $30K from elsewhere. That would bring Tangerine Savings to CDIC insured limit, with $80K at 2% and $20K at 0.1%.

Which averages to 1.62% interest. Less than 2% promo rate, but better than anything currently listed in HISA chart.

December 6, 2021
1:43 pm
Bill
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Right. If your $20k earns .1% and your $50k earns 2% I believe your overall return on the $70k is just under 1.46%, still at the top of the HISA chart.

December 6, 2021
2:20 pm
Vatox
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Kidd said

The point of the question in post #27. ALL $70,000 would need to be pulled, as you can not get away from that 0.1%.  

Yep! That’s what I mean. Leaving $20k at 0.1% and $50k at 2.0% is garbage.

December 6, 2021
2:38 pm
Vatox
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Bill said
Right. If your $20k earns .1% and your $50k earns 2% I believe your overall return on the $70k is just under 1.46%, still at the top of the HISA chart.  

So the question is whether better offers come in January. It’s pointless to argue the blended rates of the possible future. Kidd is getting 2.0% on $50k and 2.9% on 20k until January. At the time of maturity is when to decide.

December 6, 2021
3:24 pm
savemoresaveoften
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Vatox said

So the question is whether better offers come in January. It’s pointless to argue the blended rates of the possible future. Kidd is getting 2.0% on $50k and 2.9% on 20k until January. At the time of maturity is when to decide.  

should withdraw it all and deposit at Tangia for 3%. Why help Tangerine....

December 6, 2021
3:52 pm
Vatox
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savemoresaveoften said

should withdraw it all and deposit at Tangia for 3%. Why help Tangerine....  

Yes. 3% for the $50k and add the $20k to that in January.

December 6, 2021
4:09 pm
dentgal
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How depressing. My 1.2% matured Dec 3rd and the most I could get was 1.2%. I will need to call them back. But I am not putting in NEW money. I had a big chunk of chain there already. Any news from Simpii?

December 6, 2021
5:37 pm
Loonie
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savemoresaveoften said

should withdraw it all and deposit at Tangia for 3%. Why help Tangerine....  

However, Tandia requires that all promo deposits be made by Dec 17, so no can do in January.

I have a one-year GIC at Hubert, where the third quarter pays out on 11 Dec. It will be worth my whie to move it to Tandia for the fourth quarter+, and there will be just enough time for me to get it there. Sometims I get lucky!sf-smile

December 6, 2021
7:12 pm
Vatox
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Loonie said

However, Tandia requires that all promo deposits be made by Dec 17, so no can do in January.

I have a one-year GIC at Hubert, where the third quarter pays out on 11 Dec. It will be worth my whie to move it to Tandia for the fourth quarter+, and there will be just enough time for me to get it there. Sometims I get lucky!sf-smile  

At least the $50k can go there and whatever is best, come January, for the $20k. For Kidd.

December 7, 2021
2:20 pm
implode
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I didn't see it when scrolling insights, but when I went to insights tab, I got it too. Yeah for 2%. Time to move USD over.

December 23, 2021
3:13 pm
Canadianbull
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They offered me only 1.40% until January 31, 22.

I wonder what is their criteria? How do they pick people for these offers?

December 23, 2021
3:50 pm
Dean
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Canadianbull said

They offered me only 1.40% until January 31, 22.

I wonder what is their criteria? How do they pick people for these offers?  

Best I can tell, it's totally random. I haven't found any pattern, or method.

'Good Luck' for next time (January?).

    Dean

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

December 24, 2021
12:47 am
Canadianbull
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Let's hope they offer me better rate after January 31 sf-cool

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