Long-term GICs are non-redeemable and require a minimum deposit of $1,000.
Short-term GICs are non-redeemable and require a minimum deposit of $1,000. Interest is compounded annually and paid at maturity. Also available as RSP from 90 days, with a minimum deposit of $2,500.
After 30 Days
After 90 Days
Cashable GICs require a minimum deposit of $1,000. Interest is compounded annually and paid at maturity.
Registered GICs are non-redeemable, and require a minimum deposit of $1,000 for RSP and TFSA, or a minimum deposit of $10,000 for RIF. For all registered plans, interest is compounded annually and paid at maturity. Annual interest is available for TFSA plans only. Income options for RIF are annual, semi-annual, quarterly and monthly.
*The 18 Month term is not available for RIF.
Each deposit is available through either Home Bank or Home Trust Company, both of which are separate members of CDIC.
The rates in the table have been in effect since May 11, 2022.
When you invest in a Guaranteed Investment Certificate (GIC), you’ll receive your original principal, plus the agreed upon interest when the GIC matures. We offer some of Canada’s best GIC interest rates, and with both short and long-term GICs available you can be sure to find a high interest GIC that’s right for you.
In addition to offering high interest rates, our GICs are very secure. Home Bank and Home Trust Company are members of the Canada Deposit Insurance Corporation (CDIC), which means all Oaken GICs are eligible for CDIC coverage up to applicable limits.
Registered plans / accounts
All Oaken GICs are eligible for inclusion in government registered accounts, including Registered Savings Plans (RSP), Tax Free Savings Accounts (TFSA) and Retirement Income Funds (RIF). These accounts can not only help you grow your savings, but they may also reduce the total amount of tax you’re required to pay on your savings.
Non-registered GICs are simply GICs that are held outside of a registered plan or account. For those investors who have maximized their allowable contribution limits for a TFSA or RSP, holding non-registered GICs makes it possible to take advantage of a higher GIC interest rate, together with the added benefit of CDIC coverage for all insurable amounts.
Oaken Savings Account rate
We offer one of Canada’s highest daily interest savings rates. With an Oaken Savings Account, you’ll also enjoy no fees and no minimum balance requirements. And there are no limitations on the number of transactions you can make using your savings account. All Oaken Savings Accounts are eligible for CDIC coverage, up to all applicable limits, so you know your money is always safe.