We are experiencing higher than normal call volumes which is affecting our wait times. If you would prefer, please send us an email inquiry to service@oaken.com.

We are experiencing higher than normal call volumes which is affecting our wait times. If you would prefer, please send us an email inquiry to service@oaken.com.

Our GIC rates

You'll find all of our current GIC rates here. We take great pride in offering some of the highest savings rates in Canada, so that you can make the most of your hard-earned money.

  • Non-registered plans
  • Registered plans
  • Long-term GICs
  • Short-term GICs
  • Cashable GICs
TermAnnualSemi annualMonthly
18 Months{{ODGICCAN06}}{{ODGICSSN06}}{{ODGICSMT06}}

Long-term GICs are non-redeemable and require a minimum deposit of $1,000.

30-59 Days{{ODSTDSTD02}}
60‐89 Days{{ODSTDSTD03}}
90‐119 Days{{ODSTDSTD04}}
120‐179 Days{{ODSTDSTD05}}
180‐269 Days{{ODSTDSTD06}}
270‐364 Days{{ODSTDSTD07}}

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.

TermAfter 30 DaysAfter 90 Days
1 Year{{ODCSHCOD30}}{{ODCSHCOD90}}

Cashable GICs require a minimum deposit of $1,000. Interest is compounded annually and paid at maturity.

  • Registered GICs (RSP, TFSA, RIF)
1 Year{{ODRSPCAN01}}
18 Months{{ODRSPCAN06}}*
2 Years{{ODRSPCAN02}}
3 Years{{ODRSPCAN03}}
4 Years{{ODRSPCAN04}}
5 Years{{ODRSPCAN05}}

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.

Long-term GICs are non-redeemable and require a minimum deposit of $1,000.

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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 November 26, 2021.

Non-registered plans

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 is a member of the Canada Deposit Insurance Corporation (CDIC), which means all Oaken GICs are eligible for CDIC coverage up to applicable limits.

  • Long-term GICs (1-5 years)

    Our long-term GICs offer some of the highest GIC interest rates available today for Canadian investors. This makes an Oaken long-term GIC an ideal choice for those looking for a stable and secure way to invest for a guaranteed rate of return.

    Our long-term GICs are an excellent option for those saving for a future goal, such as the down payment for a new home. Investors looking for a safe way to increase the fixed income component of their overall investment portfolio or retirement fund may also consider long-term GICs.

  • Short-term GICs (30-364 days)

    A short-term GIC refers to GICs with a maturity of less than a year. An Oaken short-term GIC may be an ideal option for you if you have a sum of money to invest for a relatively short period of time, and want to guarantee your principal and your interest.

    A short-term GIC generally offers a higher interest rate than a typical savings account. Also, because your funds are not locked in for an extended period of time, a short-term GIC combines the benefits of a GIC with more flexible access to your savings than a long-term GIC.

  • Cashable GICs

    An Oaken Cashable GIC gives you the benefits of a GIC, while still providing you with the ability to access your money if you need it later. Our Cashable GIC rates are based on a 1-year term, with either a 30 or a 90-day closed period where your money remains locked in.

    If you chose the 30 Day Cashable GIC option, you can withdraw funds from your GIC any time after the first 30 days, and you’ll receive your entire principal and the interest your investment has earned to that point. If you choose the 90 Day Cashable GIC, you must wait 90 days before you can access your savings.

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.

  • Retirement Savings Plan (RSP)

    A Retirement Savings Plan (RSP) is an investment plan specifically intended to help you save for your retirement. The primary advantage of an RSP is that you receive an income tax deduction based on your annual RSP contribution. This effectively reduces the amount you may owe when you file your income taxes for the year.

    It’s important to consider your future tax obligations as part of your overall retirement strategy planning. As long as you keep your savings in your RSP, they remain sheltered from taxes. But once you withdraw funds, they must be declared as part of your income for the year.

  • Tax Free Savings Account (TFSA)

    The Tax-Free Savings Account (TFSA) was created to help Canadians save for their future. You are not required to pay taxes on the interest earned within your TFSA, and while it can be used to help save for your retirement or any other savings objective you may have, it’s really much more than a standard savings account.

    Because the funds held in a TFSA are not taxable, you can withdraw money from your TFSA without having to include the withdrawal as income for the year. You can hold various investments, including GICs, in your TFSA to help grow your money tax-free.

  • Retirement Income Fund (RIF)

    A Retirement Income Fund (RIF) is a plan designed to provide you with income during your retirement. The benefit of a RIF is that even as you are receiving income from the RIF, you can continue to earn interest on the remaining funds in the RIF.

    You open a RIF by transferring money from an RSP, but once you open a RIF, government regulations require you to withdraw a minimum amount from your RIF each year. This minimum is based on a percentage of the value of your RIF, and the minimum amount increases slightly each year as you get older.

    Note also that once you open a RIF, you can no longer contribute to an RSP. However, you can continue to hold and invest in a TFSA.

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.