Tangerine Savings Account Info & Reviews

Financial Products > Savings Accounts > Tangerine Savings Account
Detailed information, reviews and ratings for the Tangerine Savings Account.
Useful when comparison shopping for a new canadian savings account.

Information about the Tangerine Savings Account

Product NameTangerine Savings Account
Available InCanada (All Provinces)
Offered ByTangerine Bank
Product PageTangerine Savings Account
Interest Rate1 %  Interest Rate Increased from 0.4 % to 1 % on July 30, 2022

Chart of historical values for the Tangerine Savings Account Rate
  • 1 Year
  • 3 Years
  • 5 Years
  • 10 Years
  • All Data
Minimum Balance$0
Fund TransfersElectronic Funds Transfers
(initiated from the Tangerine client website)
Deposit InsuranceCDIC
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Always visit the financial institutions product page and carefully review the information there before making a final decision.

Customer Ratings for the Tangerine Savings Account

Customer Service:3.5

Reviews and Comments for the Tangerine Savings Account

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 Reviews & Comments about the Tangerine Savings Account
George on September 12, 2015
The rates were far more competitive back in the good old days before ING Direct was bought out by Scotiabank. Since then the rates on this account have (quite predictably) plumetted. You can now get twice the rate of interest at any of the virtual Manitoba credit unions. Higher rates can also be found at other banks like Canadian Tire Bank and Oaken Financial.
drc on June 23, 2014
TORONTO, ON - April 8, 2014 – ING DIRECT has changed its name to Tangerine.
The name change is the result of ING DIRECT’s sale by ING Groep to Scotiabank in 2012.
Tangerine will continue to operate as a wholly-owned subsidiary of Scotiabank.
drc on April 2, 2013Overall Rating: 3
Major Error on March Statement
Review your March Statements Very Carefully.
ING left out an entire account and several thousand dollars on my March 31,2013 statement.
Customer Service: 1  Cost/Rates/Value: 3  Convenience: 4  Features: 4  
Mani on July 23, 2012Overall Rating: 3.5
I used to use ING Direct for my cash savings many years ago. However, they have not offered competitive rates for quite some time now. Sure, ING still offers rates that are higher than what you can get at the big 5 Canadian banks, but their rates have been consistently lower than what you can get at some of the other virtual banks. In particular, Canadian Tire Bank and Ally have consistently offered rates that are about half a percentage higher than ING Direct. And since those are both insured by CDIC, what is there to lose in switching?
Customer Service: 4  Cost/Rates/Value: 3  Convenience: 4  Features: 3  
Nadine on June 8, 2011Overall Rating: 3.33
I still use ING direct as a place to keep my emergency fund. I just don't think it's worth switching to Ally or Canadian Tire bank or one of those Manitoban credit unions for a small increase in the interest rate. It's just not worth the effort for me.
Customer Service: 4  Cost/Rates/Value: 3  Convenience: 3  
Allegra on June 8, 2011
I used to have a savings account with ING, but I closed it recently as I have found their rates to be uncompetitive. The good old days when ING direct used to offer the top rates appear to be well behind us now.
Eric on June 8, 2011Overall Rating: 3.25
I've had an ING Direct Investment Savings account since 2002 (when I was still in high school!). Although ING Direct no longer seems to offer the best rates, I still keep my account open and do use it from time to time. I like the fact that ING Direct never charges any service fees (no hidden fees either) and their service is quite easy to use.
Customer Service: 5  Cost/Rates/Value: 3  Convenience: 3  Features: 2  

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