The Globe and Mail reports in its Wednesday, May 24, edition that Home Capital Group (HCG) is hiking rates on its guaranteed investment certificates in a bid to attract depositors and replenish its cash base. The Globe's Christina Pellegrini and Clare O'Hara write that HCG says it had a total of $12.33-billion in GIC deposits as of Monday. That stability, however, is threatened by a coming wave of maturities. HCG reported with is first quarter results that $7.05-billion of fixed-term deposits, including GICs and institutional deposit notes, were set to mature in the 12 months following March 31. About $4.3-billion is set to mature from July to next March. With renewal dates looming, HCG is hitting the street with attractive interest rates that may be piquing the interest of new and current investors. Last Friday, HCG raised interest rates for all terms of its Home Trust GICs. A one-year Home Trust GIC now offers 2.2 per cent, up from 1.6 per cent earlier this month. Oaken Financial posted a rate increase Tuesday morning, offering 2.6 per cent for a one-year GIC, up from 2 per cent at the beginning of May. HCG says it understand that it needs to pay a rate premium right now to attract deposit flows.