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Oaken lowering 2year GIC rate
January 13, 2023
1:44 pm
Alexandra
British Columbia
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Oaken is lowering their 2 year GIC rate effective 20Jan2023 to 5% from 5.25%

January 13, 2023
3:16 pm
COIN
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Alexandra said
Oaken is lowering their 2 year GIC rate effective 20Jan2023 to 5% from 5.25%  

Yes, its the inverted/flat yield curve. Maybe rates have peaked?

January 14, 2023
5:27 am
RetirEd
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The HISA chart is still showing Oaken at 5.25%. Time to update?

Peoples is still showing 5.3% for 2-year GICs. And much easier to deal with than Oaken lately.

RetirEd

RetirEd

January 14, 2023
6:19 am
savemoresaveoften
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RetirEd said
The HISA chart is still showing Oaken at 5.25%. Time to update?

Peoples is still showing 5.3% for 2-year GICs. And much easier to deal with than Oaken lately.

RetirEd  

The Oaken change takes into effect Jan20

January 14, 2023
9:58 am
Dean
Valhalla Mountains, British Columbia
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    That ⬆

Six days to go. sf-wink

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

January 20, 2023
4:58 am
hwyc
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Without notice, 18 months rate changed as well sf-surprised

IMG_20230120_075624.jpg

January 20, 2023
6:30 am
COIN
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hwyc said
Without notice, 18 months rate changed as well sf-surprised

IMG_20230120_075624.jpg  

Definitely an inverted/flat yield curve. Seen this at a couple of other institutions as well. They don't want to go long on their GIC's. Guess the assumption is that rates will drop.

January 20, 2023
6:33 am
chamnic
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They did send an email this morning about this. It's a special promotion for Chinese new year and is available until February 2nd. It will then revert back to 5.25%

January 20, 2023
6:37 am
cgouimet
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hwyc said
Without notice, 18 months rate changed as well sf-surprised

IMG_20230120_075624.jpg  

They don't usually give advance notice of increases in rates but they usually apply the higher rates to GIC's opened for 7 days prior to the incease although not in this case it seems ...

CGO
January 20, 2023
6:47 am
savemoresaveoften
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cgouimet said

They don't usually give advance notice of increases in rates but they usually apply the higher rates to GIC's opened for 7 days prior to the incease although not in this case it seems ...  

I think they will still honor the 7 days window if someone calls them to match. If they deny and says its a special promo and not apply blah blah, its weak.

January 20, 2023
8:49 pm
Norman1
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chamnic said
They did send an email this morning about this. It's a special promotion for Chinese new year and is available until February 2nd. It will then revert back to 5.25%

This is the Lunar New Year promotion's page for the special 5.39% 18-month GIC:

https://www.oaken.com/lunar-year-special

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