Oaken Financial review 2020  + MORE Apr 24th

With ongoing economic uncertainty, temporary layoffs and substantial job losses, many Canadians are working to find flexible solutions to manage financial hardships.
Recent figures from the federal government show more than six million people are receiving the Canada Emergency Response Benefit, with nearly a million more applications in limbo. The Canadian Bankers Association also reported that nearly 600,000 customers are now deferring mortgage payments, proving the financial ramifications to be far-reaching.
According to a survey conducted by Leger, 44% of respondents feel the current COVID-19 crisis has negatively impacted their income.
Highlights of the study:

Fifty-four percent of respondents say the pandemic is hurting their retirement savings and investments.
Twenty-six percent of those surveyed worry they will not be able to pay their bills on time.
Twenty-one percent of respondents will have difficulty paying their mortgage or rent.

Lenders are seeing an increase in borrowing with thousands of Canadians extending their credit limits and hurrying to refinance their mortgages to ease financial burdens or provide an essential safety net…

Table of contents

Who is Oaken Financial?
Oaken Financial review

Oaken Financial GICs
Oaken Financial’s High-Interest Savings Account

Is Oaken Financial right for me?

There are plenty of options for saving and investing in Canada, whether it’s via high-interest savings accounts, TFSAs, RRSPs, or other types of accounts. To help you decide which financial institution might be a good fit for your needs, we’ve taken a close look at Oaken Financial’s offerings, which are available for both personal and commercial clients. Oaken offers GICs and a high-interest savings account (HISA). Read on for a review of those accounts, and what else Oaken has to offer.
Who is Oaken Financial?
Oaken Financial was launched in 2013, but its parent company, Home Trust, was founded more than 30 years ago, in 1987. You may know of Home Trust because of their mortgage and credit card offerings; Oaken is Home Trust’s consumer deposit business. When you open an account or buy a GIC with Oaken Financial, you can choose to do so with either Home Trust or Home Bank, which is a bank the former bought in 2015…

We have updated some features on the Rewards Canada site to reflect the latest limited time offer of double points and double redemption value for the Platinum Card from American Express. The following have been updated:Guide to Credit Card Cash Back LiquidityThe top credit cards for everyday non-category bonus spendingBest Credit Cards in Canada The Platinum Card is by far he number one card to have in Canada right now and we have confirmed with Amex that the double points double redemption is not only for existing cardmembers but also for new cardholders.PC Optimum is offering their bonus redemption event for the next six days. This is where you can get more value out of your points when you redeem them at for shopping in store or online with Shoppers Drug Mart. You can get $65 off when you redeem 50,000 points (Reg. $50), $140 off for 100,000 points (Reg. $100) or $300 off for 200,000 points (Reg $200). This offer runs until April 29! Find out more here.Image via Shoppers Drug Mart If you were thinking of applying for NEXUS during this down time you’ll have to wait to get it as the U…