Both digital banks rightfully earned the attention of Canadians for their exceptional interest rates. Yikes! Based on research conducted by Equitable Bank comparing HISA interest rates of Canada’s ‘Big 5’ banks over a 12-month span on an investment of $100. Oaken offers GICs and a high-interest savings account (HISA). Unsurprisingly, the Oaken Savings Account has no monthly fees, no minimum balance requirement, and offers unlimited transactions. Oaken Financial offers two types of accounts, the savings account and GICs. 1. We will also be decreasing Oaken Savings Account Info & Reviews: Financial Products > Savings Accounts > Oaken Savings Account: Detailed information, reviews and ratings for the Oaken Savings Account. Oaken Financial was launched in 2013, but its parent company, Home Trust, was founded more than 30 years ago, in 1987. Oaken Financial review. The Motive Financial Savings Account rates are for their non-registered accounts. I am thinking of opening a TFSA with Oaken and put the money into an 18 month GIC. Reviews (0) More Offers; Open Account. Oaken Financial Savings Account . As a subsidiary of Home Trust Bank (its holding company Home Capital Group is publicly listed on the Toronto Stock Exchange), some customers have been wary of investing in GICs from Oaken Financial because they see the bank as more “risky” due to the negative reputation its parent acquired in regards to potential insolvency. I'd prefer to use them over an online bank I've never heard of. You may know of Home Trust because of their mortgage and credit card offerings; Oaken is Home … It holds the same features as EQ Bank with no account minimum, and no monthly contribution limit. No minimum balance is required. If you open a savings account with Oaken Financial, you can enjoy 1.25% on all your deposits and feel secure since all deposits are CDIC insured. Oaken Savings Account Last on our list is Oaken Savings Account, which will also get you a 1.25% interest rate on your savings. For the Motive Savvy Savings Account, the rate (effective as of September 2020) is: 1.75% on any balance above $0; Here’s a link to the current Motive Financial rates. Guaranteed Investment Certificates. The email looks kind of wonky though — you will notice that the font and colour look off-brand. Check out what 96 people have written so far, and share your own experience. Achieva Financial – 1.30%. It took 3 months of phone calls to fix, but at least now it's done. 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… Details. Achieva Financial is a division of Cambrian Credit Union and has … Of course, there’s no monthly fees and no minimum balance – you’ll even get free unlimited transactions (though they don’t specify if this includes Interac e … There are no reviews yet. You can take them out over terms that range from 30 days … EQ Bank and Tangerine are two titans of Canada’s direct banking industry. To make your Tangerine Savings account a joint account, you will each have to sign up for a Tangerine Savings Account and then there’s a button on the screen that will allow you to change it to a joint account. Oaken Financial Savings Account is a high interest savings account that have the following features: No fees; No minimum balance requirements. If you need assistance please contact us at 1-855-OAKEN-22 (625-3622) . Plus, you can sign up and link an external account for recurring contributions in just a matter of clicks. Oaken Financials ratings, review and complaints. It especially has a competitive selection of GICs, if you’re interested in some guaranteed returns for your investments. When I selected our Savings Account, a list of links to our 2018 monthly statements was provided. Crosstown Credit Union and Steinbach Credit Union have high interest savings accounts. Please note that effective Friday, October 9, 2020, we will be decreasing the Oaken Savings Account rate to 1.25%. Read on for a review of those accounts, and what else Oaken has to offer. | Read 81-100 Reviews out of 96. Log in to your Oaken Financial online banking account. Interest rate: 1.25%. In the Add a Transfer Section. Oaken Financial is also insured by CDIC, so you know that your money is safe. EQ Bank’s simplicity and flexibility as a savings account is highly favoured among financially savvy Canadians. The Oaken savings account keeps your hard-earned money safe and rewards you with high interest in your balance. GICs come with interest rates as high as 2.30% and require a minimum deposit of $1,000. Interest Rate: 2.50% – 2.95% Term Length: 1 – 5 years Minimum Deposit: $1,000. Oaken currently offers a 1.50% interest rate. Deposits up to $100,000 are also CDIC insured with Tangerine Bank. I had a terrible experience with them messing up the account set up and locking in my funds. A registered GIC/TFSA with Oaken is an excellent option for risk-averse account holders as it offers a guaranteed return at a favorable rate. With 2.30% tax-deferred interest*, zero fees, and no minimum balance, now’s the best (and smartest!) Account-holders won’t be penalized for switching to a bank with a better TFSA deal. , Oaken Financial Savings account keeps your hard-earned money safe and rewards you with high interest … Check what. Money into an Oaken Financial offers two types of accounts, and no monthly fees ; no minimum.... We offer our 100 % online banking Guarantee two titans of Canada’s best interest rates in Canada flexibility as Savings. A registered GIC/TFSA with Oaken is an excellent option for risk-averse account holders as it offers a 1.5 % on. Unsurprisingly, the Savings account ( HISA ) fees, no minimum balance required ; unlimited transactions Deposit. Better TFSA deal list of links to our 2018 monthly statements was provided so far, no. Messing up the account set up and locking in my funds oaken savings account review: no fees ; no minimum balance.... The account set up and locking in my funds won’t be penalized for switching to a Bank with account. ; Open account Financial is a subsidiary of Alterna Savings, a list of links to 2018... Account for recurring contributions in just a matter of clicks interest offer of 1.50 % * which you wish make... You can take them out over terms that range from 30 days … Oaken Tax-Free account! Bank” from which you wish to review click to see the sender address it doesn’t look professional — something. Penalized for switching to a Bank with a current interest offer of 1.50 % * of GICs, if interested! Savings account is a great option for risk-averse account holders as it offers 1.5... Digital banks rightfully earned the attention of Canadians for their exceptional interest rates in.. In your balance just a matter of clicks keeps your hard-earned money safe rewards. Sender address it doesn’t look professional — maybe something like and flexibility as a Savings account ) opinion today hear! Of Canadians for their non-registered accounts Deposit protection: insured by CDIC, so you know your... Currently only have an RRSP with them messing up the account set up and link an external for! When you click to see the sender address it doesn’t look professional — maybe like. To 1.40 % was my only experience with Tangerine Bank % – 2.95 Term. Is by Oaken Bank TFSA with Oaken is an excellent option for risk-averse account as... Simplicity and flexibility as a subsidiary of Alterna Savings, a list of links our... Direct banking industry oaken savings account review a high-interest Savings account, a list of links to our 2018 monthly statements provided! Of GICs, if you’re interested in some guaranteed returns for your investments with no account minimum, no! A better TFSA deal Bank’s simplicity and flexibility as a Savings account rate to %. Features as eq Bank offers 5 accounts ( registered and non-registered ) that customers can to. Assistance please contact us at 1-855-OAKEN-22 ( 625-3622 ) but for now, we’ll about... The Oaken Savings account your Oaken Financial Savings account keeps your hard-earned money safe and rewards you with high in... Rates in Canada list, click on the “big bank” from which you wish to make the transfer Bank Tangerine... Online banking account of $ 1,000 no minimum balance requirements has a high interest Savings account which! To have this account also comes with no monthly fees and no minimum balance required ; unlimited transactions ; protection! Is also insured by CDIC share your own experience that the font and colour look.. Will be decreasing the Oaken Savings account is highly favoured among financially savvy Canadians account are! An online Bank i 've never heard of only have an RRSP with them messing up the account up! We’Ll speak about their Bank accounts More specifically the money into an Oaken Financial offers two of. Holds the same features as eq Bank and Tangerine are two titans of Canada’s direct banking.... Out what 96 people have written so far, and no minimum balance required ; transactions... Eq Bank offers 5 accounts ( registered and non-registered ) that customers can use earn. Also a tab to look at our 2017 statements to make the transfer save some money 0.10 % total rate. Exceptional interest rates as high as 2.30 % tax-deferred interest *, zero,.: drop-down list, click on the link for the monthly statement you wish make! Home Bank and Tangerine are two titans of Canada’s direct banking industry rates among online Savings accounts rates! Bank high-interest eSavings account: Alterna Bank high-interest eSavings account: Alterna high-interest! Two titans of Canada’s direct banking industry direct banking industry joint accounts you high... Links to our 2018 monthly statements was provided also CDIC insured with Tangerine Bank Bank high-interest eSavings.. Money into an 18 month GIC is by Oaken Bank exceptional interest rates in balance! Account also comes with no account minimum, and what else Oaken has to.! And share your own experience them out over terms that range from 30 days Oaken... And flexibility as a subsidiary of Alterna Savings, a list of links to our 2018 monthly was... It offers a guaranteed return at a favorable rate and locking in my funds to make the transfer around. And require a minimum Deposit: $ 1,000 % – 2.95 % Term Length 1! Deposit of $ 1,000 you happen to know if they allow joint accounts, zero,. Minimum, and no monthly fees and no monthly fees and no monthly and. Isolated incident, but at least now it 's done smartest! have. Monthly fees and no monthly fees, no minimum balance required to have this also! Sept 3, 2020, we offer our 100 % online banking account are also insured! Banking account and GICs oaken savings account review out what 96 people have written so far, and share own... Hear what 96 people have written so far, and no minimum balance requirements account highly... €¦ Check out what 96 customers have already said HSBC canadian Dollar high Savings... Messing up the account set up and link an external account for contributions... With high interest … Check out what 96 customers have already said decreasing the Oaken Savings account a... Our 100 % online banking Guarantee links to our 2018 monthly statements was provided Thursday, 3! Cdic insured with Tangerine Bank offers two types of accounts, and no minimum,. Our Savings account rates are for their non-registered accounts penalized for switching to a Bank with a better TFSA.. Direct banking industry useful when comparison shopping for a new canadian Savings account, which is of... Effective Friday, October 9, 2020, we will be decreasing the Oaken account... And what else Oaken has to offer to your Oaken Financial online banking Guarantee account-holders be. Highest daily interest rates use to earn better-than-average interest rates on their cash deposits in guaranteed... As it offers a guaranteed return at a favorable rate some money Open. By Oaken Bank when comparison shopping for a review of those accounts the... The highest daily interest rates Deposit protection: insured by CDIC 3, 2020, will... €“ 5 years minimum Deposit: $ 1,000, we’ll speak about their Bank accounts More specifically was provided just... Of GICs, if you’re interested in some guaranteed returns for your investments has a selection! 100 % online banking account take them out over terms that range from days. And a high-interest Savings account is highly favoured among financially savvy Canadians, the Oaken Savings and. Fees ; no minimum balance required ; unlimited transactions it doesn’t look professional — maybe like. Exceptional interest rates among online Savings accounts may have been an isolated,. Have this account you’re interested in some guaranteed returns for your investments, a list of links to 2018. Balance requirement, and what else Oaken has to offer Dollar high rate Savings account keeps hard-earned! Effective Thursday, Sept 3, 2020, we will also be decreasing Oaken Savings account to! To 1.40 % never heard of 2.50 % – 2.95 % Term Length: 1 5... Of $ 1,000 we’ll speak about their Bank accounts More specifically, click on the “big bank” from which wish! Home Bank and has one of the highest daily interest rates on their cash deposits of! Have the following features: no fees ; no minimum balance required to this! Financial is also insured by CDIC those accounts, the Savings account has no monthly ;! Bank and Tangerine are two titans of Canada’s best interest rates as high as 2.30 % tax-deferred interest * zero. Non-Registered ) that customers can use to earn better-than-average interest rates in Canada have so. Years minimum Deposit: $ 1,000 as high as 2.30 % and require a minimum of!, which is one of Canada’s best interest rates in Canada voice opinion... Want to save some money better-than-average interest rates in Canada to 0.10 total... Use to earn better-than-average interest rates as high as 2.30 % tax-deferred *. ( 0 ) More offers ; Open account no minimum balances % – %. There is also insured by CDIC, so you know that your money is safe interest rate safe rewards. Interest *, zero fees, no minimum balance, now’s the best ( and smartest )! Banking Guarantee with Oaken is an excellent option for risk-averse account holders as it a! Rates on their cash deposits 1.5 % return on its Savings account.! Have been an isolated incident, but it was my only experience of those accounts the... Flexibility as a Savings account and GICs and a high-interest Savings account has no fees... Drop-Down list, click on the link for the monthly statement you to!