GIC rates go up, March 1st, 2024 | Oaken Financial | Discussion forum

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GIC rates go up, March 1st, 2024
March 1, 2024
8:07 am
Alexandre
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Got that in email today.

Please note that effective Friday, March 1st, 2024, we will be increasing the interest rate for the following Oaken GICs:

1 Year GIC – 5.35% (currently 5.15%)
18 Month GIC – 5.35% (currently 5.05%)
2 Year GIC – 5.20% (currently 5.00%)
3 Year GIC – 4.80% (currently 4.55%)
4 Year GIC – 4.60% (currently 4.40%)
5 Year GIC – 4.50% (currently 4.35%)

The new GIC rates will be applied automatically for all corresponding GICs booked on Friday, February 23rd, 2024 or later. 

All other Oaken rates will remain unchanged.

March 1, 2024
8:21 am
cgouimet
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Alexandre said
Got that in email today.

Please note that effective Friday, March 1st, 2024, we will be increasing the interest rate for the following Oaken GICs:

1 Year GIC – 5.35% (currently 5.15%)
18 Month GIC – 5.35% (currently 5.05%)
2 Year GIC – 5.20% (currently 5.00%)
3 Year GIC – 4.80% (currently 4.55%)
4 Year GIC – 4.60% (currently 4.40%)
5 Year GIC – 4.50% (currently 4.35%)

The new GIC rates will be applied automatically for all corresponding GICs booked on Friday, February 23rd, 2024 or later. 

All other Oaken rates will remain unchanged.

  

I just go that too. I wasn't expecting that at all ...

CGO
March 1, 2024
8:22 am
DavidSan
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I received the email as well. But since I also have an account at EQ bank, their current 1-year GIC is 5.50% so I switched my allegiance

March 1, 2024
8:37 am
cgouimet
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DavidSan said
I received the email as well. But since I also have an account at EQ bank, their current 1-year GIC is 5.50% so I switched my allegiance  

If only they had Joint GIC's ...

CGO
March 1, 2024
12:30 pm
Alexandre
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DavidSan said
I received the email as well. But since I also have an account at EQ bank, their current 1-year GIC is 5.50% so I switched my allegiance  

I have EQ bank account, too, but I wanted 1yr GIC with monthly interest payout, so this email from Oaken was welcome. For monthly payout, it'll be 5.25% annual interest.

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