Tangerine Savings Account Info & Reviews

Information about the Tangerine Savings Account

Product Name	Tangerine Savings Account
Available In	Canada (All Provinces)
Offered By	Tangerine Bank
Product Page	Tangerine Savings Account
Interest Rate	1 %  Interest Rate Increased from 0.4 % to 1 % on July 30, 2022 1 Year 3 Years 5 Years 10 Years All Data
Minimum Balance	$0
Fund Transfers	Electronic Funds Transfers (initiated from the Tangerine client website)
Deposit Insurance	CDIC

Customer Ratings for the Tangerine Savings Account

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Reviews and Comments for the Tangerine Savings Account

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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, 2013	Overall Rating:
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:   Cost/Rates/Value:   Convenience:   Features:
Mani on July 23, 2012	Overall Rating:
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:   Cost/Rates/Value:   Convenience:   Features:
Nadine on June 8, 2011	Overall Rating:
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:   Cost/Rates/Value:   Convenience:
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, 2011	Overall Rating:
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:   Cost/Rates/Value:   Convenience:   Features: