Welcome again to The Friendly Financial Coach’s regular feature on the sales and promotions that are currently being offered by the major Canadian Financial Institutions. This quarter the promotions are pretty generic, but something here may pique your interest. In my opinion, the highlight is on the low mortgage rates, but there’s also a couple “high” interest offers that are trying to entice you to save and contribute to an RRSP.
CIBC’s Bank Sales
– The Cash Back Mortgage is paying cash back up to 5% of the mortgage amount (up to $50,000) for transfer-ins and new purchases. This offer applies to 5 year fixed-rate mortgages and other mortgage terms, however, other term mortgages pay lower cash back amounts. Often cash back mortgages end up having higher interest rates and therefore you should weigh the cash back amount against all extra fees. This offer can end anytime.
– 2.39% interest rate on a 3 year fixed Mortgage and the chance to win a $25,000 mortgage payment. The mortgage payment promotion ends on Feb. 29th, 2016 and the rate can end at anytime.
– 1.75% interest on new deposits in E-Savings accounts, TFSA and RRSP savings. Balances need to be over $5,000 and the deal ends on Feb 29th, 2016 for the E-Savings and March 31st, 2015 for the TFSA and RRSP.
– Visa Aventura Infinite and the Aerogold Infinite are offering 15,000 points as a welcome bonuses. These cards are also waiving their annual fee on all cards opened before March 31st, 2015
– The Tim Hortons Visa card is offering $20 in Tim Hortons credit as a welcome bonus.
TD’s Bank Sales
– A four-year closed mortgage rate of 2.64%
– Welcome point bonuses on select Aeroplan credit cards that range from 10,000-25,000 points.
Scotiabank’s Bank Sales
– The Scotiabank ITrade Account is offering up to 500 free trades or a cash payment up to $500. This amount is dependent on how much money is deposited in the account. The offers ends soon; the account needs to be opened by December 31st, 2015 and funded by February 29th, 2016 to qualify under this deal.
– Switch your mortgage to Scotiabank and get up to 24 free movies. Offer expires on February 29th, 2016
– Earn four free movies if you open up and use a new Scene credit card.
– The first annual fee for the Momentum Visa is waived for new cardholders.
– The Scotiabank Value credit card offers an interest rate of .99% for six months on balance transfer and cash advances. Similarly, the Scotiabank no-fee Value credit card offers an interest rate of 3.99% for six months on balance transfer and cash advances.
– Many other credit card deals are available, such as free points and low interest promotional periods.
– Other third party promotions include Turbotaxes and 12 months of free McAfee virus protection.
Bank of Montreal’s Bank Sales
– Get an interest rate of 2.79% for a five year fixed rate mortgage. Pre-payment restrictions apply and it’s vital investigate before taking advantage of this deal.
– Open a Savings Builder Account and receive up to 1.3% interest when you contribute at least $200 dollars a month to the card. Certain conditions must be met to receive the full interest rate and it’s advise to review the deal before participating.
– BMO Air Miles World Elite card is offering up to 3,000 Air Miles when you open up a new card.
– BMO Air Miles Mastercard is offering up to 800 Air Miles when you open a new card.
– BMO SPC Cashback card is offering up to $50 cash back and a chance to enter contest to receive free tuition and textbooks.
RBC’s Bank Sales
– RBC is currently offering 15,000 welcome points on the Avion Platinum Visa card.
PC Financial’s Bank Sales
– Currently offering a 5 year fixed mortgage at 2.62% with up to 1,000,000 worth of PC points (the equivalent of $1,000). You get 2,500 PC points for every $1,000 of mortgage principle.
– Currently paying an interest rate of 2.6% on new deposits into TFSA and RRSPs. This deals expires on December 31st, 2015 (although, this has been extended in the past).
– PC Financial World Elite MasterCard currently has no annual fee and is offering 20,000 PC points on new applications.
Tangerine’s Bank Sales
– New clients receive an annual interest rate of 2.4% for 6 months on their savings, TFSA or RSPs and up to $50 in cashback.
– Switch banks to Tangerine and get up-to $100
Well, that’s it for the current sales and promotions. Thank you for spending your time here and please subscribe to our awesome newsletter. If you have any questions please contact me at 647-289-0012 or firstname.lastname@example.org.