Want to know a Canadian financial institution that offers competitive high interest savings and Gic’s accounts that beat inflation and is CDIC insured? In this video, I’m going to review Oaken Financial’s Savings Account. Oaken Financial is a Canadian financial institution that offer highly competitive TFSA account (Tax Free Savings account) and RRSP GIC a High Interest Savings account in Canada.Oaken Financial heavily digital while operating few locations: Halifax, Vancouver, Calgary and Toronto.
Oaken Financial is backed by Home Bank, and powered by Home Trust Company, Canada’s largest independent trust company that’s been serving Canadians since 1987. Home Trust Company offers standard range of financial services and products of a larger banking institution such as deposit products, residential mortgages, commercial mortgages and Visa* cards. As listed, Oaken offers an array of investment options in the form of Registered GiC’s, Commercial GIC’s, TFSA (Tax Free Savings account Canada) accounts, RSP and RIF accounts with competitive rates. They offer long, shirt and cashable GIC’S offering rates as low as 2.30% to as high as 2.90 % within a 5 year long-term GIC. On multiple occasions Oaken has won awards for the best GIC’s from 2015 2019. Also, Oaken offers an Online Banking guarantee. This means that if an unauthorized transaction is conducted through your Online Banking, we will reimburse you 100% for any resulting losses to your accounts.Now let's get to their High Interest Savings Account. The best high-interest savings accounts 2019 in Canada offers an interest rate of 2.3%, on deposits and comes with unlimited withdrawals and transfers like most of the banks on this list. The savings account also comes with no minimum deposit requirement. Interest is calculated daily and paid out to customers monthly. So lets say for every $5,000 you deposit in the account you’ll accumulate $115 monthly, if your money was in the account for a month. The Oaken Financial HISA also comes unlimited interactive-transfers.You’re also able to check your balances and manage your account with just a few clicks. This like the others to come are a great way to have your money beat inflation without investing in higher volatile investments. Also, throwing this out there but Oaken has the best GIC rates, we’re talking about 2.7%-3.0% from 1 - 5 years through Canadian Banking
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