Available with terms from one to five years and a minimum of CAD 5,000, these deposits are federally insured up to CAD 100,000.
The products will be offered through the CANNEX GIC Exchange, a platform that connects banks and investment firms, providing clients with a fast and secure way to invest.
Santander is expanding and diversifying its presence in Canada, where it already operates through its auto financing business.
Canada, 3 November 2025.
Santander Consumer Bank, Grupo Santander’s consumer banking unit in Canada, has begun offering Guaranteed Investment Certificates (GICs), marking a new milestone in the Group’s expansion and diversification in North America.
These products are fixed-term investment contracts with maturities of between one and five years and a minimum investment of CAD 5,000. Deposits are insured by the Canada Deposit Insurance Corporation (CDIC) up to CAD 100,000. The products do not allow early redemption or automatic renewal offering investors a simple and secure savings option.
The launch is being carried out through the CANNEX GIC Exchange, one of Canada’s leading financial distribution platforms, giving brokers and financial advisors direct access to the bank’s products to offer to their clients.
Santander has been operating in Canada for over 10 years through its auto and recreational vehicle financing business. In March this year, the Group obtained a banking license to operate as a full-service bank in Canada. Santander Consumer Bank, part of Digital Consumer Bank, one of Banco Santander’s five global businesses, manages the Group’s auto financing and consumer lending operations across 26 countries, with a strong presence in Europe, North America and South America.
With this launch, Santander is expanding its footprint in North America and strengthening the capture of deposits to support the growth of its consumer finance operations in Canada. Over the past year, the Group has also launched Openbank, its digital-first bank, in the United States, where it has already attracted more than $6 billion in customer deposits.
