Log In
Register
Topic RSS
Facebook
Twitter
Email this8:13 am
February 7, 2019
Offline
Effective Jul 28, retroactive to Jul 21 GIC's ...
1 year GIC: 3.50% (previously 3.40%)
18 month GIC: 3.60% (previously 3.50%)
2 year GIC: 3.85% (previously 3.70%)
3 year GIC: 3.90% (previously 3.80%)
4 year GIC: 3.95% (previously 3.85%)
5 year GIC: 4.10% (previously 4.05%)
| CGO |
2:07 pm
January 12, 2019
Offline
.
WOW... and only 8 Days from the last set of significant Oaken GIC rate increases. Oaken's on a Roll❗
And they're #2 on the GIC Chart now.
- Dean
" Live Long, Healthy ... And Prosper ! "
2:12 pm
February 7, 2019
Offline
After their rate drop, I ended up doing 4 $25k GIC's elsewhere, including one 30 minutes before their return to competitive today.
| CGO |
3:46 am
September 21, 2022
Offline
Oaken site this morning
rates again on the rise !!
haven't received any notice yet...
Long Term GICs
Term Annual (%) Semi Annual (%) Monthly (%)
1 Year 3.55 3.50 3.45
18 Months 3.65 3.60 3.55
2 Years 3.90 3.85 3.80
3 Years 4.00 3.95 3.90
4 Years 4.05 4.00 3.95
5 Years 4.25 4.20 4.15
wonder if this relates to recent USA bonds variations ?
6:18 am
February 7, 2019
Offline
Dean said
.
WOW... and only 8 Days from the last set of significant Oaken GIC rate increases. Oaken's on a Roll❗And they're #2 on the GIC Chart now.
Dean
No 1 on Aug 21 ... 🙂
| CGO |
8:36 am
December 18, 2018
Offline
Got the email but there is no words if they back date to recently renewed GIC. I've renewed 2 for 3 years on August 17th ?
10:23 am
September 24, 2019
Offline
chamnic said
Got the email but there is no words if they back date to recently renewed GIC. I've renewed 2 for 3 years on August 17th ?
Yes, me as well. I just purchased a five year with them on the 13th of August @4.1%
Maybe phone and ask?
11:01 am
September 11, 2013
Offline
In the past they've automatically adjusted to new higher rate if the GIC was purchased up to 7 days prior to rate increase, usually takes some time to show up when you log in. Older than 7 days, no adjustment.
Now has 4th best rate in 1-year term.
5:43 am
November 18, 2017
Offline
There's the legally mandated 10-day cancellation should allow anyone who purchased on the 17th to update to the new rates even if they don't auto-update. Those who bought on the 13th should act now, too. Definitely call in!
RetirEd
8:14 am
January 12, 2019
Offline
- That ⬆️
Good point, RetirEd❗
- Dean
" Live Long, Healthy ... And Prosper ! "
10:08 am
September 24, 2019
Offline
RetirEd said
There's the legally mandated 10-day cancellation should allow anyone who purchased on the 17th to update to the new rates even if they don't auto-update. Those who bought on the 13th should act now, too. Definitely call in!
I called in yesterday. They said that they weren't backdating the GIC's this time around. I mentioned I had considerable funds with them and don't believe I have ever asked this of them in the past. She said she would put in my request to change the GIC to the new rate and they would get back to me. I'll let you all know if they give in.
10:54 am
September 24, 2019
Offline
RetirEd said
There's the legally mandated 10-day cancellation should allow anyone who purchased on the 17th to update to the new rates even if they don't auto-update. Those who bought on the 13th should act now, too. Definitely call in!
Thanks again RetirEd!
Really glad you mentioned that about cancellation mandate. I rolled over a TFSA GIC with Tangerine on 18 Aug @3.8%. So called them to cancel which they did and re-invested into the 5yr @4.0%. Entire procedure only took about 2 minutes. So thanks for that again as I completely forgot and then looked at the new Tangerine rate.
11:10 am
April 14, 2021
Offline
Isn't their 5-yr rate currently 4.25%?
11:16 am
September 24, 2019
Offline
HermanH said
Isn't their 5-yr rate currently 4.25%?
Oaken's 5 yr now @4.25% but Tangerine's is now $4.0% it was 3.8%
1:36 pm
September 11, 2013
Offline
All I've been able to find is a 10-day mandated cancellation period for federally regulated institutions for GICs that are auto-renewed.
Does anyone have a link to info indicating that also applies to new purchases? Many institutions have their own policy allowing a cancellation period but I've found nothing indicating a mandated cancellation period for new GIC purchases.
3:33 pm
April 14, 2021
Offline
Alexandra said
Oaken's 5 yr now @4.25% but Tangerine's is now $4.0% it was 3.8%
I mentioned the 5-yr 4.25% because you said that you re-newed for 4%
Since it is within the 10-day period, maybe you can re-new for 4.25%
4:05 pm
September 24, 2019
Offline
HermanH said
I mentioned the 5-yr 4.25% because you said that you re-newed for 4%
Since it is within the 10-day period, maybe you can re-new for 4.25%
I said that I rolled over a TFSA GIC with Tangerine on the 18th of August. It was a 5 yr. term at then 3.8%. When I read about the 10 day cancellation mandate from RetirEd, I looked at the new rate from Tangerine today for 4.0%, so I called and cancelled the 5yr TFSA GIC @3.8% and renewed at the new 4.0%.
Previously though I mentioned that I had purchased a new GIC with Oaken for 4.10 on the 13th of August, so I called them when they raised their 5 yr GIC to 4.25% to ask if they would give me that rate as I am a good client of theirs. They will get back to me on it. But, as discussed here, this one is a new GIC and within the 10 days, but the Tangerine TFSA GIC was a roll over. Hope I'm not confusing you....it's an age thing.
7:10 am
March 14, 2023
Offline
Bill said
Does anyone have a link to info indicating that also applies to new purchases? Many institutions have their own policy allowing a cancellation period but I've found nothing indicating a mandated cancellation period for new GIC purchases.
The 10 day mandate is for GIC renewals only. FIs are free to set their own cancellation time period for new purchases (or not offer one).
8:20 am
January 12, 2019
Offline
Wrayzor said
The 10 day mandate is for GIC renewals only. FIs are free to set their own cancellation time period for new purchases (or not offer one).
OK then ... what's the deal @ Oaken ?
And where do we find it ?
Thx,
- Dean
" Live Long, Healthy ... And Prosper ! "
