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Email this3:55 am
September 21, 2022
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Oaken Financial Canada Day Offer
Terms & Conditions
The Oaken Financial special interest rate offer (the “Offer”) is available between 12:00am
Eastern Time on Friday, June 27th
, 2025, and 11:59pm Eastern Time on Wednesday, July 16th
,
2025.
The Offer is a 4.00% annual interest rate for a 2 year term non-redeemable GIC with a minimum
deposit of $1,000 for non-registered plan, RRSP and TFSA, or a minimum deposit of $10,000
for RRIF. Interest is calculated per annum. If you select an interest payment frequency other
than ‘Annually’ and “Compounded Annually”, you may receive a lower rate.
The Offer is only available for GIC investments opened during the campaign period. After the
Offer ends, the 2 year GIC rate will be reverted back to the posted rate.
The Offer can be applied to all new or renewed registered and non-registered GICs, personal
and commercial GICs with a 2 year term during the campaign period.
The Offer period and interest rate are subject to change without notice. Other conditions apply.
Review the full Terms and Conditions available at oaken.com/legal/
9:45 am
September 30, 2017
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I got the email now as well ... thrilled to hear 4% indeed. Since the offer is until July 16th and it is 0.25% above top of the chart's 2-yr, perhaps there will be other competitive offers as well soon.
9:45 am
January 12, 2019
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.
Better JUMP on that ⬆️ one❗
- Dean
" Live Long, Healthy ... And Prosper! "
9:55 am
September 24, 2019
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Dean said
.
Better JUMP on that ⬆️ one❗Dean
Just looked it up. Getting 4% for 2yr until 16 July. Don't have funds right now but I have a GIC with them maturing on the 14th of July. So, great, I'll be going with them on the entire amount.
10:09 am
December 18, 2024
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10:13 am
October 11, 2015
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https://www.mccarthy.ca/en/experience/healthcare-of-ontario-pension-plan-funding-of-2b-credit-facility-for-home-trust-a-subsidiary-of-home-capital-group-inc
Sounds like they need an infusion of cash!
10:22 am
January 12, 2019
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.
Note:
-
They can Pull-The-Plug and that special offer, at Any Time❗
.
'The Early Bird Gets The Worm' 
- Dean
" Live Long, Healthy ... And Prosper! "
11:15 am
August 4, 2010
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dentgal said
https://www.mccarthy.ca/en/experience/healthcare-of-ontario-pension-plan-funding-of-2b-credit-facility-for-home-trust-a-subsidiary-of-home-capital-group-inc
Sounds like they need an infusion of cash!
That story is from 2017, when they had the mini-run, Warren Buffet, etc., and they closed down that line of credit the same year. A few basis points bump on a single term wouldn't move the needle if they had any serious funding issues, anyway. It will just be a 'let's do a little promo for visibility" type of thing for direct customers - they only offer 3.3% on 2-year GICs through the brokerage channel (checked at TDDI).
2:26 pm
September 30, 2017
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hwyc said
I got the email now as well ... thrilled to hear 4% indeed. Since the offer is until July 16th and it is 0.25% above top of the chart's 2-yr, perhaps there will be other competitive offers as well soon.
... actually for a few weeks now, there has been 4% offers from the three GIC brokers sampled on the rate comparison chart. And I feel there is still the momentum there.
5:28 am
December 20, 2019
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Not sure I would lock in any significant funds for 2 years.
In fact I find myself the most comfortable with 3, 4, 6 month terms. Everything is so volatile that 2 years seems like an eternity to tie up money when the probability of someone offering higher is still very real.
Caution to anyone doing it...
Break up your funds into x4 GIC's, this way if you need access to funds you can minimize losses by cashing only one or two of the GIC's
That is assuming you can break them at all, some institutions have no way to get out while others just have an interest penalty.
9:04 am
January 12, 2019
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.
But Kam ⬆️ ... Those Short term GICs pay Diddily-Squat. Many of them don't even keep up with inflation, resulting in your money going Backwards.
You'll find that most of us here go with the Much Better paying Long term GIC's, in a laddered plan.
But yes ... in the end, each of us has our own Comfort Zones.
C'est La Vie,
- Dean
" Live Long, Healthy ... And Prosper! "
11:54 am
September 7, 2018
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KamWest said
Not sure I would lock in any significant funds for 2 years.In fact I find myself the most comfortable with 3, 4, 6 month terms. Everything is so volatile that 2 years seems like an eternity to tie up money when the probability of someone offering higher is still very real.
Caution to anyone doing it...
Break up your funds into x4 GIC's, this way if you need access to funds you can minimize losses by cashing only one or two of the GIC's
That is assuming you can break them at all, some institutions have no way to get out while others just have an interest penalty.
Short term rates under one year are really pathetic and no doubt interest rates are going to move downwards. I expect that income tax rates are going to have to go up to fund federal expenditures so interest income will be even more taxed. I have decided to diversify and pickup some quality dividend paying common shares, continue to hold them and collect the tax advantaged dividends which are paid quarterly.
9:21 am
January 12, 2019
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Dean said
.
Better JUMP on that ⬆️ one❗Dean
Well ... I JUMPED and I got it (Oaken 2Yr GIC @ 4.00%), with half the funds still 'On Hold' in my SA. 
- Dean
" Live Long, Healthy ... And Prosper! "
6:06 pm
November 8, 2021
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Dean said
Well ... I JUMPED and I got it (Oaken 2Yr GIC @ 4.00%), with half the funds still 'On Hold' in my SA.Dean
You can call them up to facilitate the purchase, they can push the $$$ on hold toward the purchase.
7:53 pm
December 18, 2024
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I don’t think it’s there any more but there was a space to manually enter a note on the GIC entry so you could indicate that the funds were pulled into savings to fund the GIC.
Isn’t it just easier to order a GIC and fund it from pulling in from another FI? You get to skip the step of pulling into to your HISA.
8:27 am
January 12, 2019
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Dean said
Better JUMP on that ⬆️ one❗
Dean
Dean said
Well ... I JUMPED and I got it (Oaken 2Yr GIC @ 4.00%), with half the funds still 'On Hold' in my SA.
Dean
BlueSky said
You can call them up to facilitate the purchase, they can push the $$$ on hold toward the purchase.
Now and in the past, I've Never had to call Oaken to set up a GIC, when some of the funds needed in my SA are still 'On Hold'.
It happens Automatically ... VOILA‼️
- Dean
" Live Long, Healthy ... And Prosper! "
8:34 am
December 18, 2024
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@Dean
Sooooo are you saying that you successfully set up a GIC using funds in your HISA, of which some was on hold?
9:37 am
January 12, 2019
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@GIC-Fanatic ⬆️
'Yup' ... and this wasn't the first time I've done it.
Far as I know, Oaken is the only FI that will let us do that. The only thing I do beforehand, is check to make sure the funds have been withdrawn from the source FI account, which usually takes ~ 1-2 business days.
Give it a try, eh
- Dean
" Live Long, Healthy ... And Prosper! "
4:28 pm
November 8, 2021
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Dean said
@GIC-Fanatic ⬆️'Yup' ... and this wasn't the first time I've done it.
Far as I know, Oaken is the only FI that will let us do that. The only thing I do beforehand, is check to make sure the funds have been withdrawn from the source FI account, which usually takes ~ 1-2 business days.
Give it a try, eh
Dean
I transferred funds on Friday, displayed in the 'Total' (not available) column due to the hold on Monday. My order didn't see the amount as available for the purchase, instead asking to select a funding option.
5:06 pm
December 18, 2024
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In the past.
Oaken GIC. Place the GIC order. Put a note on the application saying funds were just moved into HISA from FI ABC.
Today.
More improvements. No more notes on GIC application. Can do a pull after end of day Friday till Monday morning BUT must be dated Monday. Do a pull, amount shows immediately based on date selected but is on hold. I assume if you call, they will lift the hold for a period of time and allow you to do the GIC. Then hold moves to GIC. People’s is similar.
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