Oaken New GIC rates effective 30 June 26 | Oaken Financial | Discussion forum

Alexandra said
Just got e-mail from Oaken with their new rates starting tomorrow:

1 yr: 3.35% from 3.5%
18Mo: 3.45% from 3.6%
2 yr: 3.65% from 3.85%
3 yr: 3.7% from 3.85%
4 yr: 3.75% from 3.9%
5 yr: 4.0% from 4.05%  

Oaken used to have better rates than others - not so now. With inflation ranging between 3.5% and 4%, these are not good investments, particularly when one factors in income tax paid on the interest. I imagine interest rates are going to stay low/lower in Canada this year due to our economic situation.