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Email this7:38 am
February 7, 2019
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Effective 2026/05/25 ...
1 year GIC: 3.50% (previously 3.35%)
18 month GIC: 3.60% (previously 3.45%)
2 year GIC: 3.85% (previously 3.70%)
3 year GIC: 3.85% (previously 3.70%)
4 year GIC: 3.90% (previously 3.80%)
5 year GIC: 4.05% (previously 4.00%)
The new GIC rates will be applied automatically for all corresponding GICs booked on 2026/05/18, or later.
| CGO |
9:19 am
November 3, 2022
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I just moved funds from my Oaken Savings acct. into a 2 year GIC.
If only Oaken could offer deposits to more banking entities within the Smith financial empire. Why not add Fairstone Bank to Home Trust and Home Bank deposits available through the Oaken channel? I'd be happy to fill another 100k of CDIC insured deposits in that case.
9:47 am
January 12, 2019
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Rail Baron ⬆️
I know it's not the same, but Fairstone GICs can often be accessed through your Investment Broker account (e.g. TD Direct Investing, etc.).
Their GIC rates can be actually quite Good there !
- Dean
" Live Long, Healthy ... And Prosper! "
10:07 am
October 27, 2013
Online
I don't think it is overly unusual for there to be restrictions via the retail channel where the hassle factor from retail investors may be enough of a deterrent, notwithstanding other factors that may be at play. I believe Equitable Group does the same limiting EQ Bank retail customers from accessing Concentra Bank et al that is only available via the brokerage channel.
11:30 am
November 3, 2022
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Thanks for the feedback about Fairstone GICs at TDDI. I just checked what QTrade offers for GICs, and Fairstone was not among the offerings. The best deal there today was Haventree @3.96% for a three year term. QTrade as my trading platform has many good features, but top rates on GICs are not usually among them.
And I'm not sure that I understand the hassle factor of/for retail investors as an impediment to adding Fairstone GICs to the Oaken platform. Presumably, the merged entity of Fairstone/HT/HB already has made the investment in a retail channel, with all of its hassles, through Oaken. Why would selling Fairstone GICs on the Oaken platform add more hassle? They kept Home Bank "live" on the Oaken channel to give investors more CDIC coverage. Wouldn't Fairstone take Oaken another step in that direction by adding even more CDIC coverage for depositors like me who have more than $200,000 to place in GICs?
12:20 pm
January 12, 2019
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.
That ⬆️ Haventree 3 Yr GIC @ 3.96% is about The Best you'll find today❗
I'd 'Jump' on it 
- Dean
" Live Long, Healthy ... And Prosper! "
12:43 pm
October 27, 2013
Online
Rail Baron said
And I'm not sure that I understand the hassle factor of/for retail investors as an impediment to adding Fairstone GICs to the Oaken platform. Presumably, the merged entity of Fairstone/HT/HB already has made the investment in a retail channel, with all of its hassles, through Oaken. Why would selling Fairstone GICs on the Oaken platform add more hassle? They kept Home Bank "live" on the Oaken channel to give investors more CDIC coverage. Wouldn't Fairstone take Oaken another step in that direction by adding even more CDIC coverage for depositors like me who have more than $200,000 to place in GICs?
Smith Financial obviously has its reasons for not making Fairstone GICs available to the retail direct channel.
I know I am likely hitting a 'hot button' here but the hundreds and thousands of posts on this site from folks burning up CSR time on 'issues' and institution hopping suggest to me it is an inordinate hassle and a significant operating cost to a business owner to have to deal with this shite. I wouldn't want any part of it as a business owner and would pay my 25bp to the brokerage channel to escape that noise, for hassle free sourcing of funds. YMMV
1:19 pm
November 3, 2022
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I'm not persuaded by the claim that CSR time would be burned up inordinately by problem customers, based on the postings of a few characters on this web site.
I've been an Oaken customer for five years now, and have been on the phone with them twice during that time. I've placed >$500,000 in deposits with them, much of it re-invested amounts after GICs mature. Almost none of it took any of their CSR's time.
Oaken has the best online platform for buying GICs that I've come across, at least since Hubert's old system was decommissioned. Today, I bought a joint GIC for Mrs. Rail Baron and myself in less than two minutes online. That's impossible to do on Tangerine, for example, let alone Hubert these days.
With such online capability, I just don't see how broadening sale of GICs from institutions which are already working together, like Fairstone, Home Bank and Home Trust, opens Oaken up to hordes of difficult and demanding customers.
Now, I have had to be demanding with deposit brokers, when they input the wrong address and my GIC confirmation never arrived, or when the bank who issued me a GIC (Habib Canadian) never sent a T slip at tax time. And since I don't enjoy being a demanding customer, I've largely steered clear of deposit brokers after these two experiences, and try and buy my GICs directly from the FIs that offer them at attractive rates.
3:06 pm
October 27, 2013
Online
With DIY discount brokerages, the amount of issuing institution time by CSRs for GICs is approximately zero.
You may not have been a burden on CSRs personally but there are hundreds, if not thousands, of posts on this website that would beg to differ.
Regardless, your point is taken as regards an apparent inconsistency between Home Bank and Fairstone Bank. Mr Stephen Smith must have his reasons such as Fairstone Bank being the mother ship with Oaken Financial, Home Trust, Home Bank et al being brands underneath that umbrella. Are Home Trust GICs available via Oaken, or are they too only available through the brokerage channel?
At Scotia iTrade, I can buy Home Trust and Fairstone Bank GICs but not Home Bank. It may be an intended firewall between direct retail and brokerage.
9:21 pm
April 6, 2013
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AltaRed said
…Regardless, your point is taken as regards an apparent inconsistency between Home Bank and Fairstone Bank. Mr Stephen Smith must have his reasons such as Fairstone Bank being the mother ship with Oaken Financial, Home Trust, Home Bank et al being brands underneath that umbrella. Are Home Trust GICs available via Oaken, or are they too only available through the brokerage channel?
Only Oaken-branded GIC's are available through Oaken. Home Trust GIC's and Home Bank GIC's are available only through deposit brokers and investment dealers.
The extra deposits through their direct-to-consumer Oaken channel would be unnecessary and undesired. The situation is similar to when Fairstone Bank did a $300 million three-year deposit note issue in February.
$300 million of notes were offered. $1.1 billion of bids came in from investors. Offering increased to $400 million. $700 million of bids left untaken!
6:14 am
November 15, 2018
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Norman1 said
AltaRed said
…Regardless, your point is taken as regards an apparent inconsistency between Home Bank and Fairstone Bank. Mr Stephen Smith must have his reasons such as Fairstone Bank being the mother ship with Oaken Financial, Home Trust, Home Bank et al being brands underneath that umbrella. Are Home Trust GICs available via Oaken, or are they too only available through the brokerage channel?
Only Oaken-branded GIC's are available through Oaken. Home Trust GIC's and Home Bank GIC's are available only through deposit brokers and investment dealers.
The extra deposits through their direct-to-consumer Oaken channel would be unnecessary and undesired. The situation is similar to when Fairstone Bank did a $300 million three-year deposit note issue in February.
$300 million of notes were offered. $1.1 billion of bids came in from investors. Offering increased to $400 million. $700 million of bids left untaken!
I may be misunderstanding your post but I have an account with Oaken & have GIC's from both Home Bank & Home Trust held within my Oaken account & have never gone through a broker?
6:25 am
February 7, 2019
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dommm said
I may be misunderstanding your post but I have an account with Oaken & have GIC's from both Home Bank & Home Trust held within my Oaken account & have never gone through a broker?
Those are "Oaken Branded" Home Bank & Trust GIC's.
You can also get Home Bank & Home Trust GIC's via brokers at different rates.
| CGO |
6:36 am
November 15, 2018
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cgouimet said
Those are "Oaken Branded" Home Bank & Trust GIC's.
You can also get Home Bank & Home Trust GIC's via brokers at different rates.
OK thanks. Now I get it.
1:02 pm
January 16, 2017
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Difficult question: Do you think this recent upward trend in rates will continue?
1:22 pm
January 12, 2019
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AlainJF said
Difficult question: Do you think this recent upward trend in rates will continue?
.
.
- Dean
" Live Long, Healthy ... And Prosper! "
2:37 pm
September 7, 2018
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AlainJF said
Difficult question: Do you think this recent upward trend in rates will continue?
Now that Canada is in a technical recession, the pressure to raise rates has likely subsided. We know that in the US, Trump would like interest rates reduced. The problem is inflation has risen, which usually prompts central banks to raise rates.
1:59 pm
November 18, 2017
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In this post-truth environment, the only thing we can be sure of is that "The trouble with normal is it always gets worse."
I wish I could launch a trend where everyone watching Trump live, journalists included, would just start chanting "His lips are moving!" whenever he blatantly, flat-out lies...
RetirEd
2:22 pm
February 7, 2019
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RetirEd said
In this post-truth environment, the only thing we can be sure of is that "The trouble with normal is it always gets worse."I wish I could launch a trend where everyone watching Trump live, journalists included, would just start chanting "His lips are moving!" whenever he blatantly, flat-out lies...
He aims to keep the (unfortunately) large gullible population well fed ...
| CGO |
