Eligible for CDIC coverage

Among the highest RSP rates available in Canada
Our rates are among the best around, with no teaser rates, hidden fees or any other gimmicks. This means you can enjoy the combination of guaranteed principal and the opportunity to securely build your savings over time.
Why invest in an RSP?
With an RSP from Oaken, you can put money aside for your retirement in a secure investment that guarantees your principal and your interest, while taking advantage of the tax benefits that come with contributing to an RSP.

The contributions you make to your RSP reduce your overall taxable income. That means you’ll pay less income tax every year you contribute to your plan.

By the time you begin to withdraw your money at retirement, you’ll likely be in a lower tax bracket – so the money you withdraw at that time would be taxed at a lower rate.

Because a GIC guarantees your principal and interest, you know your retirement savings are secure.

The income you earn in your RSP is tax-sheltered until you withdraw it – so your money has the opportunity to grow.

If you’re married or living common-law, the higher income earning spouse can contribute to the other’s RSP. This evens out your overall taxable income, which means you pay less tax as a couple.

All Oaken GICs are eligible for the Canada Deposit Insurance Corporation (CDIC) coverage, up to applicable limits, so your savings are protected and your money will be there when you need it.
Use your RSP for more than just retirement!
Tax laws permit you to contribute up to 18% of your eligible income from the previous year, learn more about this at the Canada Revenue Agency website.
First time homebuyers can withdraw from their RSP for a purchase of a home. You get 15 years to pay back what you’ve borrowed, making it an affordable way to get your first home soon .Learn more about this at the Canada Revenue Agency website.
You can also withdraw from your RSP to fund full-time training or education for you or your spouse. Learn more about this at the Canada Revenue Agency website.
Contribute to a spousal RSP to reduce your overall family tax bill. If you earn a significantly higher income (or expect to in retirement), you can contribute to an RSP in your spouse’s name while claiming the contribution as a deduction on your own tax return. In the long run you’ll pay less tax and you can both withdraw income during your retirement. Learn more about this at the Canada Revenue Agency website.
Invest in security
All Oaken GICs are eligible for the Canada Deposit Insurance Corporation (CDIC) coverage through either Home Bank or Home Trust Company, up to applicable limits, so your savings are protected and your money will be there when you need it.
great rates this spring
4.00%
120 DAY GIC
4.25%
180 DAY GIC
4.50%
270 DAY GIC
Interest rates shown are subject to change at any time.
Are you an existing Oaken customer?
Other ways to open an accountCommercial applications can be downloaded here and mailed to us.
Or if you prefer to make an appointment to apply in person, you can do so by viewing our Oaken store locations. For more information, please email service@oaken.com or call 1-855-OAKEN-22 (625-3622) from Monday to Friday 8:00AM to 8:00PM EST and Saturday from 9:00AM to 5:00pm EST.