Tangerine Decreases GIC Rates | Tangerine Bank (formerly ING Direct) | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Tangerine Decreases GIC Rates
January 29, 2019
6:47 am
GR
Member
Members
Forum Posts: 128
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Rate for 1 year regular GIC is now down to 2.80% p.a., but RRSP and TFSA GICs are 3.00% for 1 year. Rates for longer than 1 year are slightly lower for regular GICs than for registered GICs.

January 29, 2019
7:53 am
SG
Member
Members
Forum Posts: 148
Member Since:
December 18, 2008
sp_UserOfflineSmall Offline

Which means Simplii will follow suit shortly... Lol

January 29, 2019
9:14 am
Vatox
Member
Members
Forum Posts: 293
Member Since:
October 29, 2017
sp_UserOfflineSmall Offline

Bad times are coming!

January 29, 2019
9:39 am
2of3aintbad
Member
Members
Forum Posts: 251
Member Since:
February 24, 2015
sp_UserOfflineSmall Offline

As usual, no advance warning of rate changes. That's why I prefer Oaken.

February 21, 2019
11:13 pm
Vatox
Member
Members
Forum Posts: 293
Member Since:
October 29, 2017
sp_UserOfflineSmall Offline

The 1 year GIC dropped again! Now 2.6%

At least the Tax Free rates appear unchanged.

February 22, 2019
3:03 am
cgouimet
Member
Members
Forum Posts: 5
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

For unregistered deposits at Tangerine, we now need at least an 18-Mo GIC to match Motive's daily savings rate.

February 23, 2019
2:22 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 1694
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

Still, I have to give Tangerine a bit of credit for beefing up their regular GIC rates across account types, and generally moving away from the promotional interest rate "game." Such is a tiring exercise! If I could earn 2.80% on a 1-year GIC versus between 2.50-3% by juggling money back and forth every quarter, that's a much easier and better way to go, in my opinion.

GICs are back in vogue again, mainly shorter term GICs, and perhaps for the short term. sf-wink #GICjokes #durationhumour

Cheers,
Doug

February 23, 2019
4:09 pm
Loonie
Member
Members
Forum Posts: 4608
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

But if you're looking for a savings account, a GIC is not the answer. I think the push to GICs is coming from the FIs rather than the consumer. EQ did the same thing.

Please write your comments in the forum.