Non-registered GICs
Guaranteed Investment Certificates (GIC) provide a secure option when it comes to your savings. Your principal and interest rate are guaranteed, so you know your money will be there when you need it.
Choice, flexibility and security with non-registered GICs
At Oaken, we offer several different types of GICs, so it’s easy to find one that’s just right for you. Here’s what you can expect with an Oaken GIC:
- Many options to choose from: Our terms range from 30 days to 5 years, and are available as cashable and non-cashable GICs
- Flexible payment schedules: Choose the interest payment schedule that suits your needs best – whether that’s monthly, semi-annually, annually or at maturity
- Security: Our GICs are eligible for 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
- Select from two issuers: Home Bank and Home Trust Company, both of which are separate members of CDIC
- Great rates: Our GIC rates are among the highest available
- Deposit a little or a lot: The minimum deposit is $1,000
Is a GIC right for you?
Because GICs offer a range of benefits and options, just about anyone can consider them as part of their savings and investment plan. Here are some questions you can ask yourself if you’re not sure whether they’re the right fit for you:
| What are you trying to do? | How we can help |
|---|---|
| I’m saving for a specific short-term goal | Our short-term GICs range from 30-365 days. Choose a cashable GIC for extra flexibility. |
| I’m saving for a long-term goal, like retirement | Our long-term GICs range from 1-5 years, and offer some of the best rates available. |
| I’m just saving – not sure what for yet | Our cashable GIC options let you access your money when you need it – whenever that might be! – from as early as 30 days. |
| I’ve maximized my RRSP and/or TFSA contribution room, and need somewhere to put my extra savings | Deposits up to $100,000 are covered by the Canada Deposit Insurance Corporation (CDIC), so your extra savings will always be protected. |
| I have money in other higher-risk investments | The security of our non-registered GICs provide a great complement to any investment portfolio. |
| I’m retired and want to have control over my savings | Our GICs come in a variety of terms and interest payment frequencies, putting you in control of how much you want to come due and when, keeping your cash flowing the way you need. Our Retirement Income Fund (RIF) is a perfect way to manage your retirement savings. |
1 Year
18 Month
2 Year
1 Y
18 M
2 Y
GIC
Are you an existing Oaken customer?
Other ways to open an account
Commercial 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.