About Santander Consumer Bank
Santander Consumer Bank is a Schedule II Canadian bank subsidiary wholly owned by Spain's Banco Santander, S.A., which entered Canada in 2015 by acquiring auto lender Carfinco and received OSFI's order to commence business as a bank in March 2025. It specializes in indirect auto and powersports financing arranged through dealers, and in November 2025 began offering CDIC-insured GICs distributed exclusively through deposit brokers and advisors.
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Access: Not sold directly to consumers — available through a financial broker or financial advisor only
Eligible provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland & Labrador, Nova Scotia, Northwest Territories, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon
How to join: Financing is arranged at participating dealerships; GICs are purchased through a deposit broker or financial advisor rather than directly from the bank.
Deposit protection: Canada Deposit Insurance Corporation
$100,000 per insured category per member institution
Current top rates
data as of 2026-10-16| GIC ladder | Best rate |
|---|---|
| 1-year GIC | 3.45% |
| 2-year GIC | 3.96% |
| 3-year GIC | 4.11% |
| 4-year GIC | 3.95% |
| 5-year GIC | 3.95% |
Base ladder rates. Institution may have more term rates below.
GIC rate history
Best historical posted GIC rate by term
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Tracked since Jul 16, 2026 · 34 snapshots
Term deposit rates
— not stated on sitedata as of 2026-10-16Filter rates
| Term | Registration | Redeemable | Compounding | Interest paid | Min–Max deposit | Rate |
|---|---|---|---|---|---|---|
| Long-term — 1 year + | ||||||
| 1 year | Non-reg | N | Annually— | At maturityAnnually | $1k – $100k$1k – $100k | 3.45%3.45% |
| 2 years | Non-reg | N | Annually— | At maturityAnnually | $1k – $100k$1k – $100k | 3.96%3.96% |
| 3 years | Non-reg | N | Annually— | At maturityAnnually | $1k – $100k$1k – $100k | 4.11%4.11% |
| 4 years | Non-reg | N | Annually— | At maturityAnnually | $1k – $100k$1k – $100k | 3.95%3.95% |
| 5 years | Non-reg | N | Annually— | At maturityAnnually | $1k – $100k$1k – $100k | 3.95%3.95% |
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