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The best overall GICs in Canada
About Oaken Financial
Oaken Financial provides banking alternatives as a direct-to-consumer business. Its parent company, Home Trust, is Canada’s largest independent trust company. The company provides premium GIC rates. Oaken’s GICs can be purchased online, over the phone, or at one of its branches. Currently, Oaken Financial has branches in Toronto, Vancouver, Calgary and Halifax.
Oaken Financial's GIC rates
Oaken Financial currently offers the highest rates on non-registered GICs, which can be purchased by opening an account. The GIC term lengths vary between 30 days and 5 years. If you want to receive the interest before maturity, you can choose whether you want interest payments to be made to you monthly, semi-annually or annually. Lastly, the investment in any non-registered GIC must be at least $1,000. Oaken also offers cashable GICs, which offer slightly lower rates than its non-redeemable GICs. Additionally, you can also purchase registered GICs in a registered retirement income fund (RRIF), tax-free savings account (TFSA), or registered retirement savings plan (RRSP). These registered GICs also have competitive rates but the minimum investment increases to $2,500.
Compare other Oaken Financial products
Not only does Oaken Financial offer the most competitive non-registered GIC rates, but it also provides premium savings rates through the Oaken Savings Account.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read more
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