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Oaken Continues To Slowly Raise Its Rates
January 26, 2022
10:21 am
Dean
Valhalla Mountains, British Columbia
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.
Today's email from Oaken . . .
.

    "Please note that effective Thursday, January 27, 2022, we will be increasing the interest rates for the short-term, long-term, and cashable GICs as noted below:
    .

    Short-term GICs:

    30 Days GIC – 1.35% (currently 1.30%)
    60 Days GIC – 1.40% (currently 1.30%)
    90 Days GIC – 1.45% (currently 1.40%)
    120 Days GIC – 1.50% (currently 1.45%)
    180 Days GIC – 1.50% (currently 1.45%)
    270 Days GIC – 1.50% (currently 1.45%)

    Long-term GICs:

    1 Year GIC – 2.15% (currently 1.90%)
    18 Months GIC – 2.30% (currently 2.00%)
    2 Years GIC – 2.40% (currently 2.10%)
    3 Years GIC – 2.60% (currently 2.40%)
    4 Years GIC – 2.65% (currently 2.50%)
    5 Years GIC – 2.75% (currently 2.70%)

    Cashable GICs:

    Cashable after 30 Days – 1.35% (currently 1.30%)
    Cashable after 90 Days – 1.45% (currently 1.35%)

    These new rates will be applied automatically for all corresponding GICs booked on Thursday, January 20, 2022, or later. All other Oaken rates will remain unchanged."

I'm still liking their 18 Month GIC.

    Dean

sf-cool " Live Long And Prosper " sf-cool

January 26, 2022
11:13 am
hwyc
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18m GIC 2.30% ? My 60,000 TFSA dimes are marching over there as we speak 🙂

January 26, 2022
11:13 am
savemoresaveoften
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for those who booked a GIC with them past few days, the new rate will automatically back down to all those GIC booked Jan20 or after.

January 26, 2022
11:56 am
Dean
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savemoresaveoften said

for those who booked a GIC with them past few days, the new rate will automatically back down to all those GIC booked Jan20 or after.  

    Already mentioned at the bottom of Post #1, but it doesn't' hurt to mention it again. sf-smile

It's interesting to note that these increased rates are happening at the same time the BoC continues to sit on it's hands, and do nothing with it's rates ❗

    Dean

sf-cool " Live Long And Prosper " sf-cool

January 26, 2022
12:33 pm
Bill
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Been out of gics for a long time, with my usual impeccable timing I bought 4 of the 1.9% ones on Jan 17! One didn't go through for some reason so I bought its replacement on Jan 20, i.e. I only win when there's a screw-up!

Dean: Sorry, can't help it, but don't put an apostrophe in "it's" unless you mean to say "it is". (Sorry again.)

January 26, 2022
1:07 pm
Dean
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Bill said

. . .

Dean: Sorry, can't help it, but don't put an apostrophe in "it's" unless you mean to say "it is". (Sorry again.)  

Thanks for catching that , Bill ... "It's" Greatly appreciated ... My Bad. sf-smile

    Dean

sf-cool " Live Long And Prosper " sf-cool

January 26, 2022
1:30 pm
savemoresaveoften
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savemoresaveoften said
for those who booked a GIC with them past few days, the new rate will automatically back down to all those GIC booked Jan20 or after.  

and I mean back "dated" not "down" lol
On top I missed it was mentioned in the first post too. I was just excited I booked a 1y at 1.90% on jan22 and now upgraded to 2.15% hahaha

January 26, 2022
2:24 pm
2of3aintbad
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Dean said

Thanks for catching that , Bill ... "It's" Greatly appreciated ... My Bad. sf-smile

    Dean

  

This is one of my pet peeves also, "its" vs "it's", until my SO pointed out that some devices presume to "correct" your input, sometimes incorrectly. I am on vacation with time on my hands, otherwise I would not chime in.

January 26, 2022
2:52 pm
savemoresaveoften
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savemoresaveoften said

and I mean back "dated" not "down" lol
On top I missed it was mentioned in the first post too. I was just excited I booked a 1y at 1.90% on jan22 and now upgraded to 2.15% hahaha  

Bill said
Been out of gics for a long time, with my usual impeccable timing I bought 4 of the 1.9% ones on Jan 17! One didn't go through for some reason so I bought its replacement on Jan 20, i.e. I only win when there's a screw-up!

Dean: Sorry, can't help it, but don't put an apostrophe in "it's" unless you mean to say "it is". (Sorry again.)  

sorry Bill, my subsequent post is not meant to rub it in to you. Didnt see ur reply when I post. if I did, I would just keep quiet..

January 26, 2022
3:55 pm
Bill
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No problem, smso, not taken that way at all, I posted it because it's kind of funny, how good I am at being a contrarian indicator! Enjoy your extra .25%!

January 28, 2022
10:15 am
Dean
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hwyc said

18m GIC 2.30% ? My 60,000 TFSA dimes are marching over there as we speak 🙂  

That , + I'm also presently a fan of Hubert's cashable 1 Yr GIC @ 2.00%.

Can't wait to see what the GIC rates will look like, 12-14 months from now. Then it will most likely be time to go 'Long' again.

    Dean

sf-cool " Live Long And Prosper " sf-cool

February 2, 2022
7:48 am
savemoresaveoften
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Please note that effective Thursday, February 3, 2022, we will be increasing the interest rate for the Oaken Savings Account as noted below:
• Oaken Savings Account – 1.32% (currently 1.25%)

February 2, 2022
10:11 am
Dean
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savemoresaveoften said

Please note that effective Thursday, February 3, 2022, we will be increasing the interest rate for the Oaken Savings Account as noted below:

• Oaken Savings Account – 1.32% (currently 1.25%)  

Yes, I just saw that too ... = 5.6% increase.

We are still just in the early stages of this trend. We'll be seeing more of these increases (HISA's & GIC's), throughout the year.

Bide your time, and take advantage.

    Dean

sf-cool " Live Long And Prosper " sf-cool

February 4, 2022
6:48 pm
Bill
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HISA Chart shows 1.32% for Oaken TFSA savings account but I don't believe there is such a thing.

February 4, 2022
10:21 pm
Peter
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Bill said
HISA Chart shows 1.32% for Oaken TFSA savings account but I don't believe there is such a thing.  

Fixed! Thanks, and sorry for the oversight.

February 5, 2022
6:43 am
Bill
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Beauty, thanks Peter!

February 5, 2022
10:15 am
Dean
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Bill said

HISA Chart shows 1.32% for Oaken TFSA savings account but I don't believe there is such a thing.  

You're right ... But there should be ❗

My main 'Peeve' with Oaken ... No registered SA's. sf-confused

    Dean

sf-cool " Live Long And Prosper " sf-cool

February 5, 2022
10:25 am
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Dean said

You're right ... But there should be ❗

My main 'Peeve' with Oaken ... No registered SA's. sf-confused

    Dean

  

I have now pulled almost all our registered GICs from Oaken, and will continue until done - unless they make an offer I can't refuse, such as they did when they almost went bankrupt about five years ago, which seems unlikely.

February 5, 2022
10:48 am
Dean
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Loonie said

I have now pulled almost all our registered GICs from Oaken, and will continue until done - unless they make an offer I can't refuse,, such as they did when they almost went bankrupt about five years ago, which seems unlikely.  

For myself, I have No registered $$$ with Oaken ... never have.

Have you ever tried to ask them 'Why' they don't have registered SA's? I have, several times in the last 3-4 years. They Never give a straight answer.

Each time I ask 'Why', all they'll say to me is; "We're working on it.". They won't answer the question. They just give that four word response every time, and then they end the conversation.

I'm guessing Oaken will Never have registered SA's.

    Dean

sf-cool " Live Long And Prosper " sf-cool

February 5, 2022
11:18 am
Loonie
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They won't do it unless they feel they have to. So, I encourage everyone to transfer their registered GICs out when they mature. Money talks! - and walks.

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