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Email this8:41 am
September 24, 2019
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Just received an e-mail from Oaken offering a 15Month GIC @3.75%. Offer open from 02June 2026- 23June2026.
8:45 am
January 9, 2011
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Just received an e-mail. It's available between June 2 and June 23. Existing maturing GICs also qualify, but you have to change maturity instructions to pay out to the savings account, and then buy a new GIC.
Every time they have had one of these promos, my next maturity has just missed their time frame, but this time I got lucky 🙂
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
8:55 am
May 18, 2016
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I got this offer too. I just reopened an account with Oaken. Is Oaken Digital insured by CDIC?
9:01 am
January 9, 2011
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RYAN said
I got this offer too. I just reopened an account with Oaken. Is Oaken Digital insured by CDIC?
Yes, times 2, because both Home Bank and Home Trust (where your money actually goes) are each covered by CDIC.
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
10:36 am
December 23, 2018
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Better wait till after BOC Rate Announcements in June 10.
3:57 pm
May 18, 2016
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How would be T5 slips issued for a 15 months GIC? Do I get one T5 for interest accrued till Dec 31 this year and another T5 for interest accrued in 2027, or just one T5 slip for 15 months?
4:25 pm
May 26, 2026
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RYAN said
How would be T5 slips issued for a 15 months GIC? Do I get one T5 for interest accrued till Dec 31 this year and another T5 for interest accrued in 2027, or just one T5 slip for 15 months?
I believe the details are available on the CRA website of how T5's are prepared but IIRC, you would get your first T5 for the GIC(s) that have been invested for 12 months as at 31DEC for the calendar year in question. In other words, if it has been less than 12 months when 31DEC2026 comes around, you would not get a T5 until after the end of the NEXT calendar year and this would include interest for all interest paid/accrued life-to-date for the GIC in question to 31DEC2027 of the next calendar year.
5:23 pm
November 18, 2017
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T5s don't seem to be issued per deposit, but per institution. I only get one per institution including all savings accounts and GICs. For term GICs, it's not on an accrual basis but based on crediting dates. Any amount credited or paid in this year will be on NEXT year's T5. Amounts paid or credited last year should have appeared on THIS year's T5.
If one has, say, a five-year GIC with interest credited or paid out on the same day every year, the first year's interest will be reported on the second year's T5. The second year will be reported for the third year, and so on.
For savings accounts, interest is paid as one goes, and is recorded through the year, and on a T5 the next year.
RetirEd
8:44 am
April 6, 2013
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RetirEd said
… For term GICs, it's not on an accrual basis but based on crediting dates. Any amount credited or paid in this year will be on NEXT year's T5. Amounts paid or credited last year should have appeared on THIS year's T5.
…
That's correct. For any investment that pays interest annually or more frequently, one reports the interest as it is actually paid. Compounding is reinvesting the paid interest.
Simplii GIC's pay or compound interest monthly. So, one reports their interest like the interest from a savings account that pays interest monthly.
Personal taxpayers don't report accrued, unpaid interest to December 31 for such investments.
8:27 am
September 21, 2022
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last day today for this promo 
9:06 am
May 24, 2016
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Please note that effective Tuesday, June 30th, 2026, we will be updating the interest rate for the following Oaken GICs:
Long Term GICs:
1 year GIC: 3.35% (currently 3.50%)
18 month GIC: 3.45% (currently 3.60%)
2 year GIC: 3.65% (currently 3.85%)
3 year GIC: 3.70% (currently 3.85%)
4 year GIC: 3.75% (currently 3.90%)
5 year GIC: 4.00% (currently 4.05%)
All other Oaken rates will remain unchanged.
