Home Trust's direct-to-consumer brand with consistently top-tier GIC and HISA rates — and no monthly fees
| Feature | Details |
|---|---|
| HISA rate | ~3.00–3.40%* (no minimum) |
| GIC rates | ~3.50–4.50%* (30 days to 5 years) |
| Monthly fee | $0 |
| Minimum deposit | $1,000 for GICs |
| CDIC insured | Yes (Home Trust + Home Bank) |
| CDIC coverage | Up to $200,000 (Home Trust + Home Bank, separate members) |
| Account types | HISA, GIC, TFSA, RRSP, RRIF, RESP |
| Physical locations | 3 (Toronto, Calgary, Halifax) |
*Rates change frequently. Verify at oaken.com.
Oaken Financial is the direct-to-consumer banking brand of Home Trust Company, one of Canada's largest federally regulated trust companies. Founded in 2013, Oaken was created to offer Canadians competitive savings rates without the overhead of physical branch networks.
Home Trust (and its subsidiary Home Bank) are both CDIC members, meaning Oaken deposits are insured through two separate CDIC institutions. A savvy depositor can hold up to $100,000 each at Home Trust and Home Bank for up to $200,000 in effective CDIC coverage — a useful feature for large savers.
Home Trust has a strong 35-year track record in the Canadian mortgage market. In 2017, it faced a short-term liquidity crisis that spooked some depositors, but the crisis was resolved quickly with government support and the company has continued operating soundly since. CDIC protection was not triggered and depositors were not at risk.
Oaken's GIC rates are consistently among the highest available in Canada for federally regulated banks. They offer both cashable (flexible) and non-cashable (fixed) GICs in terms from 30 days up to 5 years.
| GIC Term | Approximate Rate* | Cashable? |
|---|---|---|
| 30 days | ~3.00% | No |
| 90 days | ~3.25% | No |
| 180 days | ~3.50% | No |
| 1 year | ~3.75–4.00% | Some options |
| 2 years | ~3.75–4.25% | No |
| 3 years | ~3.80–4.25% | No |
| 5 years | ~3.75–4.50% | No |
*Approximate ranges for 2025. Check oaken.com for current posted rates.
GIC laddering is a strategy to maximize interest income while maintaining regular access to a portion of your funds. Instead of locking everything into one GIC, you spread your savings across multiple GICs with staggered maturity dates.
Example 5-year ladder with $50,000:
Each year, one GIC matures. You reinvest it in a new 5-year GIC at the current rate. Over time, every rung of the ladder is invested at the highest (5-year) rates, and you always have funds available every 12 months.