Oaken Financial is the retail brand of Home Trust and Home Bank — both CDIC members. By holding a deposit at each entity, you can effectively double your CDIC coverage to $200,000 per category, which makes Oaken a favourite for larger deposits.
| Term | Posted rate | $10,000 earns (term) |
|---|---|---|
| 1 Year | 3.35% | $335 |
| 2 Year | 3.65% | $743 |
| 3 Year | 3.70% | $1,152 |
| 5 Year | 4.00% | $2,167 |
Compound interest assumed annually. Always confirm posted rates directly with Oaken.
Oaken Financial is the deposit-taking brand of Home Capital Group, and its structural advantage is unique in the Canadian market: Oaken issues GICs through two separate CDIC member institutions — Home Trust Company and Home Bank — and a single Oaken customer can hold deposits at both. Each entity carries its own $100,000 CDIC coverage per insured category, so a couple holding $200,000 in non-registered GICs can split $100,000 to Home Trust and $100,000 to Home Bank and have the full $200,000 fully insured. Add a TFSA and RRSP at each entity and the same household can stack $1.2 million of CDIC coverage across one Oaken relationship. No other Canadian institution offers this structural advantage. Booking is done by phone (Mon–Fri), online (account opening + GIC purchases), or by mail (paper application — slower but still supported for older customers). The minimum deposit is $1,000 per GIC. Oaken's line-up covers non-cashable GICs (3, 6, 9, 12, 18, 24, 36, 48, 60 months), cashable GICs (1-year only, 30-day lock), TFSA GICs, RRSP GICs, RRIF GICs, and FHSA GICs (launched 2024). Rates currently sit at the very top of our table — a hair above EQ Bank on most terms — and materially above the Big Five. The customer service is consistently rated highly — Oaken's phone team is small, knowledgeable, and based in Canada. The genuine drawbacks: no branches, no debit card, GIC maturity payouts arrive in 1–2 business days (vs. EQ's same-day to linked account), and the website is functional but dated. For deposits under $100,000 per category, EQ Bank is usually the cleaner pick. For deposits over $100,000 per category, Oaken's two-entity structure is the default choice.
Oaken currently posts the top 1-year rate in our comparison. The two issuers most likely to overtake it are EQ Bank (3.30%) and Tangerine (3.15%) — both CDIC-insured, both fully online.
Oaken currently posts the highest 1-year non-cashable GIC rate in our 11-institution comparison. Over a 5-year term on $10,000, you'd earn roughly $2,167 in interest at Oaken's posted rate. Use the full GIC rate comparison to see all 11 institutions side by side, or the compound interest calculator to model larger deposits.
The standard play is a GIC ladder: split your deposit across 1-, 2-, 3-, 4-, and 5-year terms so one matures every year. With Oaken, a $25,000 ladder ($5,000 per rung) produces roughly $735 in annual interest once fully built (using current 1-, 2-, 3-, and 5-year rates as a proxy).
Hold Oaken GICs inside a TFSA or RRSP whenever possible — GIC interest is taxed at your full marginal rate, making non-registered GICs one of the least tax-efficient holdings. On a $10,000 GIC at 3.35%, a 30% marginal rate costs roughly $101 per year in tax.
Oaken's structure is unusual: by depositing at both Home Trust and Home Bank (both CDIC members under the Oaken brand), you can stack two $100,000 coverage limits per category — potentially $200,000 of CDIC protection for a single saver.
Rates as of 2026-04-21 · Non-registered, non-cashable terms · Confirm directly with Oaken Financial.
Last reviewed: April 2026