Institution profile · Domestic bank (Schedule I)
Canadian Tire Bank
ActiveCanadian Tire BankCDIC
Canadian Tire Bank is the Schedule I bank behind Canadian Tire’s financial services. Scotiabank sold its 20% stake in the business back to Canadian Tire in 2023.
Profile facts checked October 30, 2026
Mitey files the Canadian Tire Bank index card: best posted savings rate 2.4%.
What is Canadian Tire Bank?
Canadian Tire Bank is domestic bank, owned by Canadian Tire Corporation, Limited, regulated by OSFI at the federal level. Eligible deposits are CDIC-insured to $100,000 per category. It doesn’t list personal accounts in FCAC’s Account Comparison Tool, so this page covers its official status, deposit protection, ownership and dated facts.
At a glance
- Legal name
- Canadian Tire Bank
- Type
- Domestic bank (Schedule I)
- Owner / parent
- Canadian Tire Corporation, Limited
- Head office
- Oakville, ON
- Founded
- 2003 — The bank states it was established in 2003.
- Regulator
- Office of the Superintendent of Financial Institutions (OSFI) for safety and soundness; Financial Consumer Agency of Canada (FCAC) for consumer protection
- Best posted savings rate
- 2.4% on $10,000 (Canadian Tire High Interest Savings Account)
- OBSI banking cases
- 27 opened in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025)
- Website
- www.ctfs.com
Is my money safe at Canadian Tire Bank?
CDIC member.
Worked example — a household with four deposits at two CDIC members
| Deposit | Amount | Protected | Not protected |
|---|---|---|---|
| Member A: Own name | $130,000 | $100,000 | $30,000 |
| Member A: TFSA | $45,000 | $45,000 | $0 |
| Member A: Joint (You + partner) | $80,000 | $80,000 | $0 |
| Member B: Own name | $60,000 | $60,000 | $0 |
Total $315,000; protected $285,000; not protected $30,000. Try your own deposits in the deposit safety tool.
What savings rates does Canadian Tire Bank pay?
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| Canadian Tire High Interest Savings Account | 2.4% | No monthly fee |
Is Canadian Tire Bank on the official lists?
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| Canadian Tire Bank | OSFI — Schedule I domestic bank | Yes |
What else should you know about Canadian Tire Bank?
- Established in 2003 as the financial services subsidiary of Canadian Tire Corporation; based at 3475 Superior Court, Oakville.Source: media.ctfs.com
- Scotiabank sold its 20% interest in Canadian Tire’s Financial Services business back to Canadian Tire on October 31, 2023.Source: scotiabank.com
Your own pattern can change the order. Put your numbers into the true-cost finder to rank Canadian Tire Bank’s accounts against everyone else’s.
How many Canadian Tire Bank complaints reached the ombudsman?
OBSI, the ombudsman for banking, opened 27 banking cases about Canadian Tire Bank in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025), closed 24, and resolved 9 to the complainant’s satisfaction. Across all banks and credit unions, OBSI opened 5,438 banking cases that year (+113% on the year before) and 25% of closed cases ended with money paid.
Counts aren’t adjusted for size, so bigger banks have more cases. A complaint reaches OBSI only after the bank’s own process (up to 56 days). Source: OBSI Annual Report 2025, released March 13, 2026. How to complain.
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