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General Terms:

1. The Tangerine New Client Welcome Offer includes the Promotional Savings Rate Offer, the Visa Debit Cashback Offer and the Automatic Transfers Offer as described in further detail in these Terms and Conditions (each an “Offer” and collectively the “Offers” or the “Welcome Offer”).

2. Subject to these Terms and Conditions, the Offers are available to New Clients (as defined below) who(se):

a. Client Number (as defined below), with Tangerine Bank or Tangerine Investments, was created between February 9, 2024 and April 30, 2024 (the “Offer Period”); and

b. become a New Client using an eligible Promo Code as communicated by Tangerine

(collectively the “Qualifying Conditions”).

A “Client Number” is created when a new Client submits his/her personal information (including, but not limited to, name, mailing address and email address) to Tangerine as part of the Account opening process and is assigned a unique identification number (a “New Client”).

3. In addition to these Offer Terms and Conditions, all terms and conditions associated with any Eligible Savings Accounts, Tangerine Chequing Accounts and Tangerine Investment Fund Accounts will continue to apply.

Terms Specific to the 5.75% Promotional Interest Rate Offer (the “Promotional Savings Rate Offer”):

4. Subject to the satisfaction of the Qualifying Conditions above and subject to the following terms and conditions, a 5.75% promotional interest rate (the “Promotional Rate”) will apply to deposits made to a New Client’s Eligible Savings Account(s) opened within 30 days of the date their Client Number was created. The Promotional Rate will apply for 153 days (5 months) beginning on the date all Qualifying Conditions have been met (the "Promotion Period"), to a maximum of $1,000,000 (in the currency of the Eligible Savings Account) per Eligible Savings Account Type (as defined below), subject to the imposed CRA limits on any registered Accounts if applicable.

5. The Promotional Rate is only applicable to deposits made during the Promotion Period to Tangerine Savings Accounts, Tangerine Tax-Free Savings Accounts, Tangerine RSP Savings Accounts, Tangerine RIF Savings Accounts and Tangerine US$ Savings Accounts (collectively referred to as "Eligible Savings Accounts") where the New Client is the person whose name appears first on the Tangerine Bank statement for the Account (the “Primary Account Holder”). For Accounts where a New Client is not the Primary Account Holder (Example: the New Client is not the Primary Account Holder on a joint Account and is listed second on the statement for that Account), the Promotional Savings Rate Offer will not be applied to that particular Account. Multiple Eligible Savings Accounts of the same type (for example, 3 separate Tax-Free Savings Accounts) are defined as an "Eligible Savings Account Type". The Promotional Rate is not applicable to deposits made to any other account types, including Tangerine Business Savings Accounts, Tangerine US$ Business Savings Accounts, Tangerine Children’s Savings Accounts or Tangerine Chequing Accounts.

6. The Promotional Rate of 5.75% is an annualized rate and will apply to eligible deposits as outlined above. Subject to the applicable limits and qualifications outlined in these terms and conditions, interest on eligible deposits made during the Promotion Period will be calculated daily at the Promotional Rate (“Promotional Interest”) and paid monthly to Eligible Savings Accounts. New Clients will receive Promotional Interest in two separate payments – (1) interest calculated at the posted rate of interest listed on the Tangerine Bank’s website which is subject to change without notice (the “Posted Rate”) is paid at the end of the month in which it was accrued (“Posted Rate Interest”), (2) interest calculated at a rate that reflects the difference between the Posted Rate and the Promotional Rate (“Additional Interest Rate”) is paid at the start of the month following the month in which it was calculated (“Additional Interest”). For clarity, the Promotional Rate will always equal the sum of the Posted Rate and the Additional Interest Rate such that if the Posted Rate changes, this will result in a corresponding change to the Additional Interest Rate so that the Promotional Rate remains unchanged. Similarly, Promotional Interest will always equal the sum of the Posted Rate Interest and the Additional Interest. Notwithstanding anything in this Section, Tangerine Bank may change the Promotional Rate at any time without prior notice.

7. Any Eligible Savings Account closed prior to the payment of Additional Interest will forfeit any Additional Interest calculated during the month in which the Eligible Savings Account is closed and will only earn Posted Rate Interest for that month.

8. After the Promotion Period ends, all balances in the Eligible Savings Accounts will earn interest at the Posted Rate payable on the Eligible Savings Account. In the event that the combined balances of any given Eligible Savings Account Type is greater than $1,000,000 (in the currency of the Eligible Account), any balances in those Eligible Savings Accounts that are above this maximum will earn interest at the Posted Rate payable on the Eligible Savings Account.

9. Once the New Client's first Eligible Savings Account has qualified for the Promotional Rate, subsequent Eligible Savings Accounts opened by the New Client during the Promotion Period, up to a combined maximum of $1,000,000 (in the currency of the Eligible Account) per Eligible Savings Account Type, will also earn Promotional Interest for the duration of the Promotion Period.

Example: If a New Client opens their first RSP Eligible Savings Account on September 2, 2023 and a subsequent RSP Eligible Savings Account 10 days after opening the first Account, the Promotional Interest will be paid on both Eligible Savings Accounts only until February 2, 2024 (i.e., 153 days from the opening of the first RSP Eligible Savings Account) on balances of up to $1,000,000 (in the currency of the Eligible Account) combined in both RSP Eligible Savings Accounts.

10. In the case of Eligible Savings Accounts where deposits are made by transferring registered funds through a T2033 form, those deposits will earn interest at the Posted Rate payable on the Eligible Savings Account from the time the transfer request is submitted to Tangerine and while the funds are in transit. Upon receipt of the transferred funds by Tangerine, the Promotional Rate will begin to apply to those funds only for the remainder of the Promotion Period, and provided that the Promotion Period hasn’t already ended when the funds are received.

11. All deposits to TFSA Accounts and RSP Savings Accounts are subject to the limits imposed by the Canada Revenue Agency (CRA). The RSP contribution limit is as noted on the New Client's Notice of Assessment issued by the CRA. The New Client is fully responsible for monitoring their individual contribution limits and ensuring any and all deposits fall within these set CRA limits. The New Client further agrees to at all times indemnify and hold Tangerine Bank harmless in respect of any such penalties or charges imposed upon the Client as a result of these imposed limits.

12. This Promotional Savings Rate Offer can’t be combined with other promotional savings rate offers. Where a New Client qualifies for more than one promotional savings rate offer, the Promotional Rate will be applied to the New Client’s Eligible Savings Account(s) first, to the exclusion of any other promotional savings rate offer.

Terms Specific to the Visa Debit 20% Cashback Offer (the “Visa Debit Cashback Offer”):

13. Subject to the satisfaction of the Qualifying Conditions above and subject to the following terms and conditions, New Clients who open both an Eligible Savings Account and a Tangerine Chequing Account within 30 days of the date their Client Number was created are also eligible to earn a Cash Bonus of 20% (the “Cash Bonus”) on Eligible Transactions (defined below) using the Visa Debit feature of their Client Card for 60 days, to a maximum of $400 per Account.

14. The 60-day period for Eligible Transactions (“Eligible Transaction Period”) begins on the date the Client Card is activated. The 20% Cash Bonus will be calculated on the sum of all Eligible Transactions less any refunds, returns or other similar credits made during the Eligible Transaction Period.

15. The Cash Bonus only applies to eligible online purchases and online bill payments made on a merchant’s website, successfully completed with a Client Card with Visa Debit (“Eligible Transactions”). Examples include using your Card information to shop at online stores, to make a recurring bill payment on a merchant’s website (such as internet, phone), and as a mobile app payment method for streaming services, food delivery orders, ride sharing, etc.

Eligible Transactions do not include:

a. Account fund transfers made with your Client Card to other non-merchant accounts including loading or topping up of prepaid card accounts and moving funds into another financial account acting as the funding source of person to person payments or to load a third party digital wallet (e.g. Remitly and KoHo);

b. Bill payments made through the bill payment feature of the Tangerine website or Mobile Banking app or recurring bill payments set up on your Account; and

c. All other Client Card or Account transactions, including but not limited to in-store debit purchases, payments made using your mobile wallet (Apple Pay, Samsung Pay, Google Pay), electronic funds transfers, Interac e-Transfer transactions, interest charges, fees and cash withdrawals.

16. New Clients must activate their Client Card within 60 days of the date their Tangerine Chequing Account was opened. Once the Client Card is received, it can be activated by logging in at tangerine.ca and going to 'Profile & Settings', scrolling down to the Client Card section, and clicking 'Activate'.

17. In the case of a New Client with two Chequing Accounts, only Eligible Transactions completed using the Account designated as “Chequing” on their Client Card qualify.

18. In the case of a New Client with a joint Account, if both joint Account holders have the joint Account designated as “Chequing” on their Client Cards, then the Cash Bonus will be calculated based on the combined total Eligible Transactions completed using the joint Account by each Account holder, up to a maximum of $400 for the joint Account. Both joint Account holders must meet all Visa Debit Cashback Offer conditions for Eligible Transactions to be counted toward the Cash Bonus, including activation of the Client Card within 60 days of the Account being opened. For a joint Account, the Eligible Transaction Period starts on the date the Primary Account holder’s Client Card is activated.

19. In the event that a New Client receives a replacement Client Card due to loss, theft or damage to their first Client Card, Eligible Transactions must all be made within 60 days of activating their first Client Card. Receipt of a replacement Client Card will not extend this period, but all Eligible Transactions made on the replacement Client Card will count towards the Cash Bonus calculation.

20. The Cash Bonus will be paid to the New Client’s Tangerine Chequing Account within 30 days of the end of the Eligible Transaction Period provided the Tangerine Chequing Account is open and not in Default (as defined in the Tangerine Overdraft Protection section of the Chequing Account Terms) at the time of the Cash Bonus payout.

21. The Visa Debit Cashback Offer can’t be combined with other Chequing cash bonus offers and is limited to one (1) Cash Bonus regardless of the number of Accounts opened, up to a maximum of $400. Where a New Client qualifies for more than one cash bonus offer from the Bank, this Visa Debit Cashback Offer will be applied to the New Client’s Tangerine Chequing Account first, to the exclusion of any other cash bonus offer.

Terms Specific to the $100 Automatic Transfer Bonus Offer (the “Automatic Transfer Bonus Offer”):

22.   Subject to the satisfaction of the Qualifying Conditions above and subject to the following terms and conditions, New Clients who open both a Tangerine Chequing Account and either an Eligible Tangerine Investment Fund Account (as defined in Section 23) or an Eligible Savings Account (as defined in section 5) within 30 days of the date their Client Number was created are also eligible to earn a cash bonus of $100 (the “Automatic Transfer Bonus”).

23.   In order to qualify for the Automatic Transfer Bonus, within 60 days of the date their Client Number was created, a New Client must set up an Automatic Transfer consisting of fund transfers of at least $50 per month, for at least 2 consecutive months (any frequency), from their new Tangerine Chequing Account to their new Tangerine Investment Fund Account or new Eligible Savings Account, as applicable (an “Eligible Automatic Transfer”).

24.   Eligible Tangerine Investment Fund Accounts are: Tangerine Investment Fund Accounts, Tangerine Tax-Free Investment Fund Accounts (“TFSA Accounts”) and Tangerine RSP Investment Fund Accounts (“RSP Accounts”). Locked-in Accounts aren’t eligible for the Automatic Transfer Bonus.

25.   The Automatic Transfer Bonus will be deposited in the New Client’s Tangerine Chequing Account within 30 days after the second consecutive month that the Eligible Automatic Transfer has cleared the New Client’s Tangerine Chequing Account.

26.   The Tangerine Chequing Account must remain open until the date of the Automatic Transfer Bonus payout in order to receive the Automatic Transfer Bonus.

27.   All contributions to TFSA Accounts and RSP Accounts are subject to the limits imposed by the Canada Revenue Agency (CRA). The TFSA and RSP contribution limits are as noted on the New Client's most recent Notice of Assessment issued by the CRA. The New Client is fully responsible for monitoring their individual contribution limits and ensuring any and all contributions fall within these set CRA limits. By accepting this Automatic Transfer Bonus Offer, the Client further agrees to at all times indemnify and hold Tangerine Investments harmless in respect of any such penalties or charges imposed upon the New Client as a result of these CRA imposed limits.

28.   Limit of one Automatic Transfer Bonus per New Client regardless of the number of Eligible Accounts. For joint Tangerine Chequing Accounts there is a limit of 1 Automatic Transfer Bonus paid to the primary Account holder. Automatic Transfer Bonus Offer can’t be combined with any other welcome offers except as otherwise permitted.

Limitations

29.   All Offers are non-transferrable, non-saleable, and may not be exchanged for cash.

30.   Tangerine reserves the right at its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure, promotional materials or statements, or any other communication regarding this Welcome Offer, whether written or oral from Tangerine, except where otherwise stated.

31.   Tangerine reserves the right at its sole discretion, without advance notice, to extend, suspend, terminate, or otherwise modify the Welcome Offer or any Offer, in whole or in part or for select Clients, for any reason or if an Offer can't run as planned including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond Tangerine’s reasonable control which corrupt or affect the administration, security or proper conduct of this Welcome Offer.

32.   Tangerine reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Welcome Offer or any Offer for any Account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Welcome Offer or who otherwise is deemed ineligible.

33.   By accepting an Offer, you agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice with respect to this Welcome Offer is deemed to be provided on the day it is posted on our website.