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Canadian Tire Bank Deposits of february 2023

Open a deposit at Canadian Tire Bank verified by our specialists. On 08.02.2023 3 deposits are available to you.

Offers: 3

Updated
05.01.2023
16:55
Canadian Tire High Interest Savings*® Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

3.00%
Canadian Tire Guaranteed Investment® Certificate (GIC)
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$1,000 minimum initial investment
Term
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Loan term for the financial product

1-5 years
Canadian Tire Tax Free High Interest Savings*® Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

3.00%

Other types of deposits

GoDay
1.6
JUDGEV
JUDGEV
26.05.2022 at 15:46
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
Review
Canadian Tire Bank Deposits of february 2023

Types of CTFS deposits

CTFS deposit accounts have no monthly fees and can be opened and managed by phone and online.

  1. Canadian Tire High-Interest Savings Account (HISA) with no minimum balance gives a 2.40% annual rate.
  2. Canadian Tire Tax-Free High-Interest Savings Account (Tax-free HISA or TFSA) offers you to grow your money without tax with a high 2.40% annual interest rate.
  3. Canadian Tire Guaranteed Investment Certificate (GIC) provides a guaranteed high annual interest rate for your term from 3.55% to 4.60%. The terms are 1 to 5 years. The minimum investment is $1,000.

Interest is based on the principal and the term of your GIC. It will be paid on the maturity of your GIC, and you will earn only interest on accrued and unpaid interest (compound interest), which will be calculated annually. You may choose to be paid an annual interest.

Interest is paid by cheque or deposited into your CTFS savings account.

Also, you may open a Canadian Tire Tax Free GIC Account to hold a GIC with all the same conditions but without tax.

Requirements

To be eligible for HISA, TFSA, or GIC, you should:

  • Be a Canadian resident (except Quebec)
  • Be 18 years of age or older
  • Have a valid SIN
  • Provide a completed Direct Transfer Authorization Form (DTA Form), including your initial deposit amount
  • Provide a completed Declaration of Tax Residence for Individuals form

Pros and cons

Pros

  • High rates
  • Transparent info about rates and fees at the website
  • No monthly fee
  • No additional fees GIC
  • Tax-free GIC account
  • Online banking account
  • Telephone support service

Cons

  • No chequing account
  • In CAD only
  • Luck of options
  • No welcome offers and bonuses
  • Phone customer service is available at limited hours

How to make a deposit?

You can apply online or call at 1-866-681-CTFS (2837).

To make a deposit to an account, simply use an online banking account. In addition, you can transfer funds by phone 24/7. Telephone customer service is acceptable 8 a.m. — 9 p. M. ET from  Monday to Friday, 8 a.m. — 6 p.m. ET on Saturday.

FAQ

Can I cancel my GIC in Canadian Tire Bank?

No, you can't cancel your purchase of a GIC unless it is a GIC issued on renewal. 

The principal and accrued interest on your GIC is automatically reinvested in a new GIC for the same term at the current annual interest rate if you won't give another instruction. The new GIC can be issued or canceled without a fee if the cancellation is within ten business days of issuance. Review the most up-to-date rate by calling 1-866-681-2837 or by visiting the rates pages on the official website.

How much should I have to purchase a GIC?

The minimum amount to purchase a Canadian Tire GIC is $1,000. CTB Deposit accounts without minimum limit are High-Interest Savings accounts and Tax-Free Savings accounts.

I live in Quebec. Could I get a Canadian Tire Bank GIC?

Canadian Tire Deposit accounts — HISA, TFSA, and GIC — aren't currently available for Quebec residents. You may open a CTFS credit card account only.