Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this6:27 am
February 13, 2018
Offline
Received email:
Please note that effective Wednesday, September 27th, 2023, we will be increasing the interest rate for Oaken long-term GICs as noted below:
Long-term GICs:
1 Year GIC – 5.75% (previously 5.50%)
18 Month GIC – 5.65% (previously 5.50%)
2 Year GIC – 5.60% (previously 5.50%)
3 Year GIC – 5.40% (previously 5.35%)
4 Year GIC – 5.15% (previously 5.00%)
5 Year GIC – 5.15% (previously 5.00%)
The new GIC rates will be applied automatically for all corresponding GICs booked on Wednesday, September 20, 2023 or later.
All other Oaken rates will remain unchanged.
6:47 am
March 30, 2017
Offline
gamgam said
Received email:
Please note that effective Wednesday, September 27th, 2023, we will be increasing the interest rate for Oaken long-term GICs as noted below:
Long-term GICs:
1 Year GIC – 5.75% (previously 5.50%)
18 Month GIC – 5.65% (previously 5.50%)
2 Year GIC – 5.60% (previously 5.50%)
3 Year GIC – 5.40% (previously 5.35%)
4 Year GIC – 5.15% (previously 5.00%)
5 Year GIC – 5.15% (previously 5.00%)The new GIC rates will be applied automatically for all corresponding GICs booked on Wednesday, September 20, 2023 or later.
All other Oaken rates will remain unchanged.
Yeah saw that too. But still no one would step up and pay close to 5.5% for 5 year money, except in the GIC broker's world.
Guess it means every FI expects recession to kick in at some point, just keep compressing the spread 5y GIC over GoC.
7:54 am
March 15, 2019
Offline
Looks like no one is offering 6% for any term. Wealth One at 5.98% seem to be the closest to 6% but do you dare go to them?
8:00 am
February 7, 2019
Offline
COIN said
Looks like no one is offering 6% for any term. Wealth One at 5.98% seem to be the closest to 6% but do you dare go to them?
Tangerine for 18Mo ... 
| CGO |
8:02 am
September 5, 2023
Offline
COIN said
Looks like no one is offering 6% for any term. Wealth One at 5.98% seem to be the closest to 6% but do you dare go to them?
Tangerine still offering 6% 18 month and 5.95% 1 yr GIC
https://www.tangerine.ca/en/products/saving/guaranteed-investments
8:07 am
September 5, 2023
Offline
savemoresaveoften said
Yeah saw that too. But still no one would step up and pay close to 5.5% for 5 year money, except in the GIC broker's world.
Guess it means every FI expects recession to kick in at some point, just keep compressing the spread 5y GIC over GoC.
5.45% from Scotia on 4 yr GIC
https://www.scotiabank.com/ca/en/personal/rates-prices/gic-rates.html
5.28% from Motive for 5 year GIC
5.20% from Laurentian for 6 year GIC
https://www.cannex.com/public/term02e.html
How 'close' does one need to be to 5.5% to make it worthwhile?
8:19 am
January 12, 2019
Offline
COIN said
. . . Wealth One at 5.98% seem to be the closest to 6% but do you dare go to them?
That subject has been pretty much Beat To Death ... but I still answer that ⬆ question with a Big Fat; ' Negatory ! '
And now back to the subject of this thread . . .
- Dean
" Live Long, Healthy ... And Prosper! "
12:02 pm
August 29, 2023
Offline
On the 23rd I had a transfer in of a TFSA. Will Oaken automatically give me 1 Year GIC – 5.75% as was only given 5.50%.
Oh wow... I see it should. Will be interesting to see when it gets changed.
12:24 pm
January 12, 2019
Offline
.
Friskyib ⬆
Maybe call Oaken to confirm. Their CSRs are usually quite helpful.
Cheerio,
- Dean
" Live Long, Healthy ... And Prosper! "
7:37 pm
August 29, 2023
Offline
Thanks Dean. I should not have to.
And it’s not worth the call for $2.50.
1:39 am
November 18, 2017
Offline
I'd never have expected myself to be quoting The Gypper...
"Trust, but verify!"
We wallow in a miasma of financial inconsistencies and errors. I would urge you to call in, get confirmation and get names.
RetirEd
2:22 am
February 7, 2019
Offline
friskyib said
Thanks Dean. I should not have to.
And it’s not worth the call for $2.50.
I have benefited from this Oaken retroactive thing a few times in the last few years. Never had to call to confirm; it just appeared upgraded within one week.
You have it in writing. If the rate doesn't change to 5.75% within 1 week, then call with this written commitment.
| CGO |
4:03 am
March 30, 2017
Offline
althisa said
5.45% from Scotia on 4 yr GIC
https://www.scotiabank.com/ca/en/personal/rates-prices/gic-rates.html5.28% from Motive for 5 year GIC
5.20% from Laurentian for 6 year GIC
https://www.cannex.com/public/term02e.htmlHow 'close' does one need to be to 5.5% to make it worthwhile?
althisa said
5.45% from Scotia on 4 yr GIC
https://www.scotiabank.com/ca/en/personal/rates-prices/gic-rates.html5.28% from Motive for 5 year GIC
5.20% from Laurentian for 6 year GIC
https://www.cannex.com/public/term02e.htmlHow 'close' does one need to be to 5.5% to make it worthwhile?
My point is 5y reached north of 5.5% few months ago when 5y GoC were lower in yield and O/N significantly lower.
7:11 am
March 15, 2019
Offline
cgouimet said
Tangerine for 18Mo ...
althisa said
Tangerine still offering 6% 18 month and 5.95% 1 yr GIC
https://www.tangerine.ca/en/products/saving/guaranteed-investments
Yes, looks like 6% is still the peak rate and only available for the 18 month term. Inverse yield curve.
8:02 am
September 5, 2023
Offline
savemoresaveoften said
My point is 5y reached north of 5.5% few months ago when 5y GoC were lower in yield and O/N significantly lower.
Can you explain the acronym O/N, not familiar with it
8:07 am
September 5, 2023
Offline
COIN said
althisa said
Tangerine still offering 6% 18 month and 5.95% 1 yr GIC
https://www.tangerine.ca/en/products/saving/guaranteed-investmentsYes, looks like 6% is still the peak rate and only available for the 18 month term. Inverse yield curve.
Had the tough job of advising 19yr old nephew about where to invest his savings today. Told them to stick with their current FI even though better rates are available elsewhere to keep life simple. But open a TFSA and take advantage of 1 yr and 2 yr GIC rates.
9:05 am
January 12, 2019
Offline
althisa said
Can you explain the acronym O/N, not familiar with it
It's a mystery to us all, Althisa. Your guess is a good as anyone else's.
O/N could be an acronym for a Number of different things.
Go Figure 
- Dean
" Live Long, Healthy ... And Prosper! "
4:07 pm
September 15, 2017
Offline
althisa said
Can you explain the acronym O/N, not familiar with it
Probably, "overnight".
6:32 pm
March 30, 2017
Offline
GR said
Probably, "overnight".
bingo.
First sentence of Sep 6 release. overnight rate is the headline rate.
"The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening."
1:34 pm
August 29, 2023
Offline
friskyib said
On the 23rd I had a transfer in of a TFSA. Will Oaken automatically give me 1 Year GIC – 5.75% as was only given 5.50%.Oh wow... I see it should. Will be interesting to see when it gets changed.
Ok. Today October 6. I received the 5.5% certificate in the mail. Yesterday I received an amended 5.75% copy online. I guess an amended one will come in mail in a few days.
Please write your comments in the forum.