Financial Product Reviews
- 5 year: 4.79%
You may be thinking about shopping around for a mortgage. Tangerine offers a small array of mortgages for Canadians, including the Tangerine variable rate mortgage.
- Low interest rates
- Flexible prepayment options
- Portable mortgage
- Only 1 type of variable mortgage available
- Variable rates are…variable
- No promotions or other incentives
- Tangerine is an online-only bank
- Canadian resident or applied resident status
- Minimum credit score of 620 with no prior bankruptcies
- At least 3 months of full-time employment
- Get a dedicated account manager once approved
- Can move to a new home penalty free
Scotiabank offers a small collection of Exchange Traded Funds (ETFs) – bundles of securities that are listed on exchanges, which are traded just like regular stocks. Scotiabank has over 120 ETFs available, and you can use them to diversify your investment portfolio.
- Competitive ETF management fees
- Simple investing through Scotia iTRADE
- Investment education resources and tools
- Access to personalized advice
- Scotia iTRADE fees
- Free investing education resource library
- Access to Scotiabank investment specialists
- Fixed Income
- Canadian Equity
- U.S. Equity
- International Equity
- Index Tracker
A Scotiabank TFSA is an easy way to take advantage of tax-free savings while investing with a trustworthy big bank. You’ll get a variety of options, including GICs (4 different types, in fact), mutual funds, portfolios, and cash savings accounts. You can also invest in stocks and bonds in your self-directed TFSA through Scotia iTrade.
- Lots of investing options
- 4 different types of GICs
- Lackluster return on TFSA savings account
- No special features and not much detail on the website
- Age of majority
- Canadian citizen
- Cashable
- Non-cashable
- Market linked
- Personal redeemable
If you’re looking for ways to save for your retirement, Scotiabank RRSPs come in a variety of shapes and sizes – with options for both the DIY and laidback investors alike (and everyone in between). You can open up a self-directed RRSP through Scotia iTrade, an automated portfolio, or keep it simple with a registered savings account.
- Options available for the DIY and hands-off investors
- Both redeemable and non-redeemable GICs available
- RRSP GICs have a low $500 minimum investment
- Not a lot of information on the website
- No standout features to set it apart from the crowd
- Age of majority
- Canadian citizen
- Under 71 years old
- Cashable
- Non-cashable
- Market linked
- Personal redeemable
Desjardins is an insurance company based in Quebec that offers an array of different insurance types, including car insurance. While they have an array of options available that allow you to customize your insurance package to meet your own, personal needs, they only have insurance available to people living in select provinces.
- Comprehensive coverage options available
- Save money with their optional safe driver program
- Variety of other ways to save money
- Slightly higher than average premiums
- Not available in all parts of Canada
- Fewer and lower discounts available
- Regular coverage doesn’t include gig-work
- Canadian citizen
- Age of majority
- Perks for customers under age 25, including rebates and free roadside assistance
- Ajusto drive safe program rewards safe drivers with discounts
If you drive a car in Canada, you need to have car insurance. Scotiabank offers a comprehensive array of auto insurance options for people in most parts of Canada. You can also get an instant car insurance quote online, which you can easily customize, so you only get the options you want and need.
- Instant online quote available
- Online quote is easily customizable
- 24/7 insurance claims
- Discounts available
- Online quotes aren’t guaranteed
- You can’t purchase online, you still have to call someone
- May not be the best rates available
- Does not offer coverage for gig-work
- Canadian citizen
- Age of majority
- Several opportunities for discounts
- 24/7 availability for making claims
From one of Canada's largest and most reliable banks comes the Scotiabank MomentumPLUS Savings Account, a no-fee savings account designed to help you save money and reach your financial goals faster. It offers "premium period" interest rates and account bonuses that give you up to 4.75%,* for the first three months.
- Savings goals with bonus interest rates
- Multiple savings goals, one account
- Bonus interest rates
- No monthly fees
- Unlimited free self-service transfers
- No minimum balance
- Money is locked in if you want the bonus interest rate
- No free Interac e-Transfers
- No free debit transactions
- Save for multiple goals at once
- Tiered Premium Period interest rates
- Unlimited tree transfers between Scotiabank accounts
- 1 year: 7.74%
- 2 year: 7.34%
- 3 year: 6.94%
- 4 year: 6.74%
- 5 year: 6.79%
- 6 year: 6.99%
- 7 year: 7.1%
- 10 year: 7.25%
Like the rest of Canada’s big banks, TD offers mortgages as one of its various financial products. With competitive rates and a variety of terms and mortgage solutions, TD should definitely be on your list when comparison shopping.
- TD mortgage rates are competitive
- Available TD mortgage insurance
- The TD mortgage calculator is great
- TD affordability calculator is worth a look
- Strict credit requirements
- High-Ratio mortgages available
- 1 year: 6.54%
- 2 year: 5.64%
- 3 year: 4.69%
- 4 year: 4.74%
- 5 year: 4.79%
- 7 year: 5.6%
- 10 year: 6%
Tangerine mortgage rates have historically been very competitive, especially before and during the pandemic. While they tend to hover close to big bank rates nowadays, you can still find a good deal with this Scotiabank-owned online bank. On top of the rates, you also get a dedicated mortgage account manager, plus can port your mortgage with no penalty if you need it.
- Tangerine fixed mortgage rates are competitive
- Lock in your Tangerine mortgage rate for 120 days
- Prepayment options available
- Annual payment increases available
- No specialized fixed rate mortgages available
- Tangerine mortgages are with an online-only bank
- Canadian resident or applied resident status
- Minimum credit score of 620 with no prior bankruptcies
- At least 3 months of full-time employment
- Get a dedicated account manager once approved
- Can move to a new home penalty free
- 10 years
- 20 years
- 100 years
If you’re in the market for life insurance, you may not have considered TD. They’re not one of the largest life insurance companies in Canada, but they are owned by one of Canada’s largest banks. This could make them a good choice for you, especially if you’re already a TD customer. Even if you’re not, they’re worth checking out – it’s easy to get a quote online.
- It’s easy to get an online quote
- They have sample policies online
- It’s convenient to apply online or over the phone
- There’s no sales commission
- Option to convert term to permanent insurance
- They don’t have as many options as a traditional insurance company
- You don’t get the personal touch
- Policies automatically renew
- Canadian citizen
- Age of majority
- Instant approval for up to $10 million in coverage
- 30-day review period in case you change your mind
- Discounts for having other TD products
- 10 years
- 20 years
- 100 years
 
  









