Log In
Register
Topic RSS
Facebook
Twitter
Email this8:44 am
February 7, 2019
Offline
Dean said
OK then ... what's the deal @ Oaken ?
And where do we find it ?
Thx,
Dean
We've grown accustomed to Oaken (noone else) retroactively applying rate increases on their GIC's. This is the first time Oaken has chosen to follow industry practice of not doing that. Maybe they'll return to their former practice on the next rate increase ...
| CGO |
11:35 am
September 11, 2013
Offline
The deal with Oaken for new purchases of gics is once you've bought it it's yours for the length of the term.
Alexandra said they told her they're not adjusting rates for gics bought within 7 days "this time around" which suggests to me that they're generally retaining their policy of upping the rate if there's a rate increase within a week of you buying it (and apparently there's no demand for marching the rate within 7 days if their rates decline after purchase date!). We'll see.
2:08 pm
March 14, 2023
Offline
Dean said
OK then ... what's the deal @ Oaken ?
And where do we find it ?
Thx,
Dean
Don't know their official policy or where to find it (Bill has given some insight above). Up until now they've been pretty consistent with upping rate when there is a +change within 7 days of purchasing.
I didn't mean to imply that Oaken has ever offered a cancellation time period if that's what was inferred from my post.
