Our competitors’ rates

We appreciate you have much better ways to spend your time than foraging around to compare our rates with everyone else’s. So we’ve done the hard work for you.

Take a look, and see for yourself

Lots of financial institutions say their savings rates are great, or competitive, or even among the best around. But at Oaken, when we say our GIC rates are some of the highest available in Canada, we really do mean it. What’s more, we’re also happy to prove it.

The table below lists a sample of rates for many of the other alternatives you have when it comes to saving your money. The rates shown are as posted on their respective websites on October 26, 2018, and are subject to change at any time. These are all based on their standard non-registered and non-redeemable GIC with annual compound, and have been ranked by the rate for a 1 Year GIC.

 

Institution

1 Year GIC

5 Year GIC

Oaken Financial

3.00%

3.60%

EQ Bank 2.91% 3.60%
Wealth One Bank of Canada 2.88% 3.50%
AcceleRate Financial 2.85% 3.35%
Implicity Financial 2.85% 3.35%
DUCA Credit Union 2.80% 3.15%
Simplii Financial 2.75% 3.10%
Tangerine 2.75% 3.10%
People’s Trust 2.60% 3.25%
Motive Financial 2.55% 3.50%
Manulife Bank 2.45% 3.25%
Canadian Western Bank 2.35% 3.30%
First Calgary Financial 2.05% 2.75%
ICICI Bank Canada 2.05% 2.70%
Meridian Credit Union 2.00% 2.60%
Vancity 2.00% 2.60%
FirstOntario Credit Union 1.60% 3.75%
BMO Bank of Montreal 1.40% 1.80%
HSBC Canada 1.40% 2.20%
RBC Royal Bank 1.40% 2.20%
Zag Bank 1.25% 1.80%
Desjardins 1.20% 1.60%
National Bank 1.20% 1.60%
Scotiabank 1.20% 1.60%
TD Canada Trust 1.20% 1.60%
CIBC 0.55% 1.05%

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