Canadian Tire to Offer Retail Banking: Mortgages, GICs and More

Ottawa Drivers may soon be able to renew their mortgage or buy a GIC while their car is being serviced at Canadian Tire stores.

Canadian Tire's financial services arm is launching a two-city pilot project that will offer retail banking products such as high interest savings accounts, variable and fixed-rate mortgages and guaranteed investment certificates.

Canadian Tire says its own research suggests consumers rate the company higher than traditional financial services organizations on attributes including friendliness, trustworthiness and caring.

The new CTC retail banking services will be tried out first in Calgary and Kitchener-Waterloo.

Banking customers will also be able to acquire bonus electronic Canadian Tire "money" gift cards.

Additional financial products may be added to the pilot early next year.