Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this3:33 pm
September 23, 2014
Offline
Fellow Savers,
CDF will match the recent Tang offer for 2.1% until the end of June. You just need to give them a call and let them know you are aware of the competing offer.
The only catch is that they are matching the rate with a GIC instrument, which means you will lose your liquidity privileges over the period. However, they will also apply the 2.1% rate against your TFSA holdings if you have any with them.
Calibre
4:55 pm
September 11, 2013
Offline
Good to know re TFSA too. I asked about my savings account only and they said they can't match PC Financial, only Tangerine, and no mention of TFSA specifically (just my "savings"). I'll call them tomorrow and if they include my TFSA too then it's close enough, after tax, so I'll go with their GICs to June 30.
2:30 pm
October 21, 2013
Offline
If they're doing it as a GIC, that probably means you lose the monthly compounding that you'd get from the savings account alternative. Not a big deal, and probably only amounts to pennies, but, still, it's not the same value.
They are probably trying to prevent people from leaping to another, better, offer, which is understandable.
I'd check on the exact duration of the GIC too. Odds are that it will be90 days, which will bring you into July. It could potentially cut into other better returns elsewhere that you might be able to get starting July. Again, just pennies, but I find it useful to think through their strategies.
4:03 pm
September 11, 2013
Offline
My "Tangerine Special" GICs with CDF go from today, when I set them up, to June 30.
12:19 pm
April 2, 2015
Offline
I know it's little late, but just in case...
I was planning to put the funds in CDF, but I found out that this rate will only apply to funds which are already with CDF. It won't even work if you had a certain balance on 1st April, withdrew the funds, and deposit the funds again. In that case, the rate match will work only on the minimum amount you had in CDF during this period.
This is quite unlike Tangerine where they just care about the funds on a particular day and if you deposit anything more than that, you earn bonus interest on that amount (irrespective of the withdrawals that you might have made in between).
Please write your comments in the forum.