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Email this12:45 pm
April 7, 2017
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As part of our commitment to making customers the first to know about our rate changes, please note that effective Monday, May 15, 2017, we'll be increasing our interest rates for the following terms:
1 Year GIC – 2.10% (currently 2.00%)
18 Month GIC – 2.20% (currently 2.10%)
2 Year GIC – 2.30% (currently 2.20%)
3 Year GIC – 2.40% (currently 2.30%)
4 Year GIC – 2.50% (currently 2.40%)
5 Year GIC – 2.60% (currently 2.50%)
These new rates will be applied automatically for all GICs booked on May 8, 2017 or later.
2:36 pm
October 21, 2013
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Good deals, IMHO. Another 10-20 bps would be better, and may be what they need to offer, if they can afford it.
I like to spread my money around and I have enough in Oaken for now, but, if not, I would consider these, up to CDIC limits.
Everyone has to make their own judgment call, but mine is that it's very unlikely that HCG will fail completely. At worst, its liabilities will be bought up and our GICs will have a different moniker. And, if they do go under, I'll start over again with another FI - likely with interest rates rising slightly.
It will be interesting to see at what point competitors feel the need to increase their rates, if at all.
4:34 pm
September 5, 2013
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Probably we can get 3% for 5 years soon...
8:31 pm
October 21, 2013
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...soon to be followed by >2% inflation?
6:59 pm
May 28, 2013
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I don't think it would look very good on the banking sector in Canada if Oaken were to default on their GICs. It would cause some panic and they (we) don't need it. Our FIs are unlike those in the US and besides the bubble has not burst ... yet.
Oaken will pull through this or others will buy them up whole or piece meal. I'm not going to panic and I have $300K in GICs within Oaken spread across the two backers.
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