Oaken Financial GICs review
Best for: Savers who want terms from 30 days to 5 years, a choice of CDIC issuer, and matching rates in an RSP, TFSA or RIF.
Annual interest. Semi-annual payout 3.70%, monthly 3.65%. Same 3.75% in an RSP, TFSA or RIF.
Annual interest. Semi-annual payout 4.45%, monthly 4.40%. Same rate in registered plans.
Two versions: locked for the first 30 days or the first 90 days, then cashable
$10,000 for RIF GICs. No maximum stated.
Issued by Home Bank or Home Trust Company, separate CDIC members, up to $100,000 per name registration per issuer
The bottom line
Oaken Financial listed 3.75% on a 1-year GIC and 4.50% on a 5-year GIC when we checked, with the same rates in RSP, TFSA and RIF GICs. You choose Home Bank or Home Trust Company as the issuer, each a separate CDIC member. The trade-offs are a $1,000 minimum, lower rates for monthly payouts, a cashable GIC at 2.25%, and no FHSA GICs on its rates page.
Pros & cons
Pros
- Registered long-term rates match non-registered annual-pay rates
- Two CDIC issuers to choose from for each deposit
- Terms from 30 days to 5 years
- Two 1-year cashable GICs, with 30- or 90-day lock-ins
- Buy online, by phone or at an Oaken location
Cons
- $1,000 minimum, and $10,000 for RIF GICs
- Monthly and semi-annual payouts earn less
- Cashable GIC pays well below the 1-year rate
- No FHSA GICs listed on the rates page
A broad, straightforward GIC lineup with registered rates that match the annual-pay rates and a choice of two CDIC issuers. It suits larger balances that can sit for a year or more.
Suits you if
- You want to spread a large balance across two CDIC members.
- You want an RSP, TFSA or RIF GIC at the regular rate.
- You like being able to buy by phone or in person.
Look elsewhere if
- You want to start with less than $1,000.
- You want a GIC inside your FHSA.
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Oaken GIC rates by term
We checked Oaken Financial’s GIC rates on October 16, 2026, from its GIC rates page, which said the rates were in effect since that day. Rates change often, so confirm them with Oaken before you buy. The rates below are for non-registered GICs with annual interest, and Oaken lists the same figures for RSP, TFSA and RIF GICs.
- 30 to 119 days: 1.00%
- 120 to 179 days: 1.00%
- 6 months: 2.25%
- 9 months: 2.70%
- 1 year: 3.75%
- 18 months: 3.80%
- 2 years: 4.20%
- 3 years: 4.30%
- 4 years: 4.35%
- 5 years: 4.50%
Cashable GICs and short terms
Oaken has two 1-year cashable GICs, both listed at 2.25%. The 30-Day Cashable GIC is locked for the first 30 days, then you can withdraw any time and get your principal plus interest earned to date. The 90-Day Cashable GIC works the same way after a 90-day lock-in. Each takes a $1,000 minimum and pays interest at maturity.
Short-term GICs run from 30 to 364 days. Terms under 180 days were listed at 1.00%, so the 6- and 9-month terms, and the 1-year rate, are where the short end picks up.
Registered plans and how interest is paid
Oaken offers RSP, TFSA and RIF GICs. FHSA GICs don’t appear on its rates page, so ask Oaken if you want one. Registered short-term GICs start at 90 days, and the 18-month term isn’t available in a RIF.
On non-registered GICs of 1 year or more, you can take interest annually, semi-annually or monthly, with a slightly lower rate for more frequent payouts. On the 5-year term, that means 4.50% annually, 4.45% semi-annually or 4.40% monthly. In registered plans, interest compounds annually and is paid at maturity, with annual payouts available for TFSAs only. RIF income can be paid annually, semi-annually, quarterly or monthly.
Deposit insurance and safety
Each Oaken deposit is issued by either Home Bank or Home Trust Company, and you choose which. They are separate CDIC members, so coverage is up to $100,000 per name registration at each issuer, with separate coverage for joint, RSP, TFSA and RIF deposits. Splitting a large balance between the two issuers can raise your total coverage.
How to buy an Oaken GIC
You can buy online through Oaken Digital by registering and opening a new investment, by phone at 1-855-OAKEN-22, or in person at an Oaken location, where an appointment is optional. The minimum is $1,000 for non-registered, RSP and TFSA GICs and $10,000 for RIF GICs. Oaken doesn’t state a maximum per GIC, so check before you fund a large deposit.
Other gics we review
- Saven Financial GICs1-year GIC: 3.80%
- EQ Bank GICs1-year GIC: 3.70%
- Tangerine GICs1-year GIC: 3.60%
- Desjardins GICs1-year GIC: 3.40% online
- Manulife Bank GICs1-year GIC: 3.35%
- Meridian GICs1-year GIC: 3.30%
- National Bank GICs1-year GIC: 3.30% posted
- Vancity GICs1-year GIC: 3.10% (3.30% registered)
- BMO GICs1-year GIC: 3.00% posted
- CIBC GICs1-year GIC: 3.00% promo
- RBC GICs1-year GIC: 3.00% special
- TD GICs1-year GIC: 3.00% posted
- Simplii Financial GICs1-year GIC: 2.90% APY
- Alterna Bank GICs1-year GIC: 2.65%
- Scotiabank GICs1-year GIC: 2.45% posted
Frequently Asked Questions
What is Oaken Financial’s 5-year GIC rate?
Oaken listed its 5-year GIC at 4.50% with annual interest when we checked on October 16, 2026. Semi-annual payouts earn 4.45% and monthly payouts 4.40%. RSP, TFSA and RIF GICs get the same 4.50%.
What is the difference between Oaken’s 30-Day and 90-Day Cashable GICs?
Both are 1-year GICs listed at 2.25% with a $1,000 minimum. The 30-Day version is locked for the first 30 days and the 90-Day version for the first 90 days. After that, you can withdraw with your principal plus interest earned to date.
Should I choose Home Bank or Home Trust Company for my Oaken GIC?
Oaken lets you pick either issuer for each deposit. They are separate CDIC members, so each covers up to $100,000 per name registration. If your savings exceed that limit, splitting them between the two can extend your coverage.
Can I get monthly interest on an Oaken GIC?
Yes, on non-registered GICs of 1 year or more. The rate is a little lower: on a 1-year GIC, Oaken listed 3.65% monthly against 3.75% with annual interest. Short-term and cashable GICs pay at maturity.
What is the minimum for an Oaken RIF GIC?
Oaken requires $10,000 for a RIF GIC, compared with $1,000 for non-registered, RSP and TFSA GICs. RIF income can be paid annually, semi-annually, quarterly or monthly.
Does Oaken offer FHSA GICs?
FHSA GICs weren’t listed on Oaken’s rates page when we checked. Its registered GICs cover RSPs, TFSAs and RIFs. Ask Oaken directly if you want to hold a GIC in an FHSA.
Can I buy an Oaken GIC in person?
Yes. Oaken sells GICs at its locations, where an appointment is optional, as well as online through Oaken Digital and by phone at 1-855-OAKEN-22.
Sources
Rates come from Oaken Financial GICs’s own site, checked October 16, 2026. GIC rates change often and can differ for registered accounts or larger deposits, so confirm the rate before you buy. See our methodology.