Just a note to those planning on paying this down BEFORE your interest rate climbs.
1. You cannot make deposits DIRECTLY to your line of credit from outside Tangerine.
2. Deposits must be made to a non-Line of Credit account at Tangerine (i.e. savings and/or chequing?)
3. Once deposits are made to your savings account, they will be held for 5 business days unless you are able to bring them in using a guaranteed form of funds (e.g. interac e-transfer)
I have been doing some impressive acrobatics to get this paid down before the interest rate climbs but it is going to be very close in terms of getting it all cleaned up before the promo period ends.
Statistics: Posted by choclover — Nov 28th, 2019 11:12 am