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Email this12:19 pm
March 20, 2022
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I just received this email:
"A new special Savings rate is coming your way!
Very soon, you’re going to be able to earn a 3.50% special interest rate on all of your eligible non-registered Savings balances of up to $5,000,000 combined*!
1. Look out for a message from us dropping in your inbox on August 2, 2022.
2. In that email, activate your offer to earn your special rate.
3. To make the most of your special rate, just keep your money right where it is."
I was on a 2.8% "multi-product" promotion (i.e. including registered and non-registered savings) expiring on July 31, 2022.
I JUST called in earlier today and accepted a 2.75% "multi-product" offer expiring on January 16, 2023. I accepted this offer before receiving the above email.
I accepted the 2.75% "multi-product" offer because my TFSA funds (approximately $86,500) would have been stuck at Tangerine at 0.4% for around a month .. so I had no choice.
Do you think that my accepting the 2.75% "multi-product" offer excluded me from being offered 3.5% as a "multi-product" offer? And that's why I was only offered 3.5% on my non-registered savings account?
12:55 pm
May 22, 2015
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Got it too
2:45 pm
April 10, 2022
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I got this same email today too. It also said, to make the most of this offer, keep your money locked in over here.
But wait! If this offer is on new deposits only, which they usually are, shouldn't I move my money out right now, and move it back in on August 2?
4:17 pm
March 20, 2022
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want8tracks said
I got this same email today too. It also said, to make the most of this offer, keep your money locked in over here.But wait! If this offer is on new deposits only, which they usually are, shouldn't I move my money out right now, and move it back in on August 2?
The offer will probably be on your whole savings account balance (including any existing funds).
4:30 am
January 9, 2011
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want8tracks said
I got this same email today too. It also said, to make the most of this offer, keep your money locked in over here.But wait! If this offer is on new deposits only, which they usually are, shouldn't I move my money out right now, and move it back in on August 2?
In the quote in the first post, #3, seems clear it will include existing funds? We will see when the fine print is available.
I'm on the 2.8% expiring August 31, and didn't get any e-mail. I'll do nothing until closer to the time.
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
5:03 am
March 30, 2017
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Good to see deposit leaving Tang forcing them to offer 3.5% to bring money back in.
On the other hand, they are reducing the attractiveness of their 1y 4.25% or that’s their intention.
As HISA rates keep climbing while GIC rates seem stuck, it’s telling savers bank treasurers are now expecting rates to peak sooner rather than later.
6:52 am
March 15, 2019
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"As HISA rates keep climbing while GIC rates seem stuck, it’s telling savers bank treasurers are now expecting rates to peak sooner rather than later."
I heard somewhere that we now have an inverted yield curve. Can someone confirm?
7:12 am
March 30, 2017
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COIN said
"As HISA rates keep climbing while GIC rates seem stuck, it’s telling savers bank treasurers are now expecting rates to peak sooner rather than later."I heard somewhere that we now have an inverted yield curve. Can someone confirm?
yup
7:52 am
January 7, 2020
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dougjp said
In the quote in the first post, #3, seems clear it will include existing funds? We will see when the fine print is available.
I'm on the 2.8% expiring August 31, and didn't get any e-mail. I'll do nothing until closer to the time.
Yes, exactly the same here. (Although we often don't get the email, have to login to see offer). I'm pulling my funds out now, and thinking might get an offer for Sept
8:00 am
December 12, 2021
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The rate are not going down anytime soon, inverted yield curve mean nothing for the GIC this time arround. The CB arround the world are doing everyting to bring down inflation just look at ECB, they just increase their rate by 50 point for the first time in 11-12 years. inverted yield or not, recession or not etc.. The rate will remain elevated until inflation start to go down and that wont happen until 2023.
Scotiabank forecasts Policy Rates at 3.50% by the end of 2022 and stay at 3.50% all of 2023
8:47 am
September 7, 2018
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agit said
The rate are not going down anytime soon, inverted yield curve mean nothing for the GIC this time arround. The CB arround the world are doing everyting to bring down inflation just look at ECB, they just increase their rate by 50 point for the first time in 11-12 years. inverted yield or not, recession or not etc.. The rate will remain elevated until inflation start to go down and that wont happen until 2023.Scotiabank forecasts Policy Rates at 3.50% by the end of 2022 and stay at 3.50% all of 2023
Interesting that the Scotiabank communique does not expect there will be a recession because consumer spending is so healthy and there is pent up demand by consumers so this will keep Canada out of a recession.
12:23 pm
September 11, 2013
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Scotiabank & I agree, no recession, if what you mean by recession is unwanted job losses. Pretty well every business needs more staff, today. Sure, house prices might well come down (interest rate increases), cars might become much more costly (supply chain and labour shortage issues), etc, but for households wanting full-time work of some kind there will be no problem. Unless we have a depression.
12:36 pm
January 7, 2020
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Seems like the coming recession may be like no other recession I've ever heard of.
A "full employment" -- defined as anybody can find work -- recession?
1:15 pm
December 12, 2021
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The V/U ratio (vacancies/unemployed) is very tight the V/U ratio is over 2.0, which meant that there were nearly two vacancies for every unemployed worker, so all the hype about a recession nothing more then wall street and bay street "whining".
1:24 pm
April 6, 2013
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The hope is that the coming "recession" will be a slowdown that results in large losses in unfilled job positions and not as many filled ones.
A recession is defined as two consecutive quarters of negative growth in real GDP. Massive layoffs are not part of the definition.
1:26 pm
March 30, 2017
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recession is defined as 2 successive quarters of negative GDP growth, employment/unemployment is a byproduct of it, not a measure.
1:33 pm
September 11, 2013
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Plus baby boomer retirement in full swing now, every day.
You see it in attitude now too, i.e. many choose not to work unless employment situation fits them perfectly. Power now not with employers.
True, employment situation not a measure, but if gdp shrinks and people who want to are still working then who cares?
2:13 pm
March 20, 2022
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[I removed this response because my question was answered further down in the thread.]
4:36 pm
November 18, 2017
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I'll echo savemoresaveoften's note: Recession means negative GDP growth (of some standard or other, depending how formal you want to be), not a measure of employment.
I don't think we have any real read on when the rate tide will turn, in terms of day-to-day decisions. I'm holding off on my TFSA cash for a bit - perhaps until the next rate-setting.
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