Oaken Rate Drop 2017 09 18 | Oaken Financial | Discussion forum

Email received today:

We wanted you to be the first to know that effective Monday, September 18, 2017, we will be returning our interest rates back to normal levels. Our GIC rates will still continue to be among the highest available. Our new rates are below. Our existing rates will apply to all investments received prior to close of business on Friday, September 15, 2017 for terms commencing prior to September 18, 2017.

Long-term GICs (registered and non-registered)
• 1 Year GIC – 1.90% (currently 2.50%)
• 18 Month GIC – 2.00% (currently 2.60%)
• 2 Year GIC – 2.25% (currently 2.70%)
• 3 Year GIC – 2.45% (currently 2.80%)
• 4 Year GIC – 2.50% (currently 2.90%)
• 5 Year GIC – 2.75% (currently 3.00%)

Short-term GICs
• 30-59 Days – 1.60% (currently 2.00%)
• 60-89 Days – 1.60% (currently 2.00%)
• 90-119 Days – 1.60% (currently 2.10%)
• 120-179 Days – 1.70% (currently 2.15%)
• 180-269 Days – 1.75% (currently 2.30%)
• 270-364 Days – 1.80% (currently 2.40%)

1 Year Cashable GICs
• After 30 Days – 1.50% (currently 1.75%)
• After 90 Days – 1.60% (currently 1.85%)

Oaken Savings Account
• 1.50% (currently 1.75%)