News Details

View all news

Oaken Financial Increases Annual Interest Rate on Five-Year GIC to 4.00%

April 14, 2022

TORONTO--(BUSINESS WIRE)-- Oaken Financial (“Oaken”), the direct-to-consumer brand backed by Home Bank and powered by Home Trust Company, today announced an increase in the annual interest rate on its five-year Guaranteed Investment Certificate to 4.00%*, effective April 14, 2022.

“This is the first time in over a decade that Canadians will have the option to invest their savings for five years at a 4.00% guaranteed rate,” said Mike Henry, Executive Vice President, Digital and Strategy at Home Trust. “Oaken is proud to be a leader in delivering value to savers in Canada.”

Oaken has grown to more than $4.4 billion in deposits through its focus on great value, simple solutions and serving customers in the way they want to be served.

About Home Trust Company and Home Capital

Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services. In addition, Home Trust and Home Bank offer deposits via brokers and financial planners, and through a direct-to-consumer brand, Oaken Financial. Licensed to conduct business across Canada, we have offices in Ontario, Alberta, British Columbia, Nova Scotia, and Quebec.

About Oaken Financial

Oaken Financial is backed by Home Bank and powered by Home Trust Company. Oaken Financial was launched in 2013 to offer Canadians a competitive alternative to manage and control their savings independently. All Oaken deposit products are eligible for Canada Deposit Insurance Corporation (CDIC) coverage through either Home Bank or Home Trust Company, up to applicable limits. Home Trust Company and Home Bank are separate members of the CDIC.

*All rates are subject to change at the discretion of Home Bank and Home Trust.

Jill MacRae
VP, Investor Relations and ESG
(416) 933-4991


Categories: Press Releases
View all news