Eligible for CDIC coverage
One of the highest savings account rates in Canada
We offer one of the best daily interest rates available. With an Oaken Savings Account, you’ll enjoy no fees and no minimum balance requirements. All Oaken Savings Accounts are eligible for CDIC coverage, up to all applicable limits, so you know your money is always safe.
Everything you need to keep your hard-earned money safe, and working for you
One of the highest daily interest rates, with no monthly fees and no minimum balances – just the good stuff!
There’s no limit to the number of transactions you can make free of charge.
You can easily transfer money from your account to an Oaken GIC, so it’s easy to take your saving to the next level.
Available for your Commercial needs too, as well as Personal.
If you have Oaken GICs, it’s easy to transfer matured balances or interest payments to your savings account until you decide where they’re going
Access your money whenever you need it.
Choose either Home Bank or Home Trust Company as the issuer for each account, both of which are separate members of CDIC.
With Oaken Digital Banking, you’re also able to check your balances and manage your account with just a few clicks.
Why you should have a savings account
A savings account may seem a little old-fashioned when you consider all the options available today, but it can still be an important part of your overall financial planning. Here’s just a few reasons why you should have a savings account:
Safeguard your savings
Like our Guaranteed Investment Certificates (GICs), the funds in your Oaken Savings Account are eligible for CDIC insurance coverage. When you open each account, you’ll have the option to choose either Home Bank or Home Trust Company as the issuer. Both entities are separate CDIC members, so you can relax knowing that your funds are fully protected by CDIC insurance coverage (up to applicable limits), so your money will always be there when you need it.
*The Oaken Savings Account interest rate is annualized, current as of today's data, and subject to change without notice. Interest is calculated daily and paid monthly.