Contact Us

Saskbank is a federally chartered Schedule I bank regulated by the Office of the Superintendent of Financial Institutions (OSFI). Our federal charter registration number is SC-2017-0438. All eligible deposits — including business operating accounts, savings accounts, and GICs with terms of five years or less — are insured by the Canada Deposit Insurance Corporation (CDIC) up to $100,000 per depositor, per insured category. Joint deposits, RRSPs, TFSAs, and deposits held in trust each qualify as separate categories, meaning a single client may be protected well beyond the base $100,000 threshold depending on their account structure. Full details of CDIC coverage categories are available at cdic.ca. For a plain-language guide to how coverage works for business owners specifically, see our CDIC coverage explainer in our Resources section.

Saskbank serves exclusively business clients — professional firms, consultancies, healthcare practices, and service-based companies. Our 1,400+ clients need a relationship manager who picks up the phone, a credit team that understands their industry, and digital tools that handle transactions efficiently. They don't need a teller counter or a Saturday morning queue. By forgoing a retail branch network, we avoid the single largest cost line in Canadian banking. That savings flows directly into better deposit rates, lower lending margins, and faster service. Our clients access banking through our online portal, our direct phone line, and in-person meetings at our Ottawa or Toronto offices — or at their own offices, where our bankers regularly visit.

For standard commercial facilities under $2 million, we commit to 10 business days from receipt of a complete application package. For larger or more complex requests, 20 business days. In Q4 2025, our actual average was 7.3 business days for sub-$2M facilities and 16.1 days for larger deals. Time-sensitive transactions — say, a practice acquisition with a closing deadline or a government contract mobilization — are flagged internally and have been compressed to as few as 5 business days. We publish our actual average turnaround each quarter because we believe accountability requires measurement. You can see our full published timelines and lending criteria on our Lending page.

Yes — operating accounts, lending, GICs, cash management, FX, and wealth management. We assign a dedicated transition coordinator who manages the entire migration from start to finish: re-routing pre-authorized payments, transferring payroll, setting up signing authorities, migrating online banking access, and ensuring no gap in credit availability. Average transition time: 21 days. No transition fees. We run parallel banking with your existing institution until you're fully settled and every payment pathway has been tested. For a step-by-step preview of the process, download our Bank Switching Checklist — a 21-step guide we provide to every transitioning client.

We view personal guarantees as a tool, not a default. For established firms with strong cash flow, adequate DSCR (we typically require 1.25x minimum), and 3+ years of operating history, we consider limited or zero personal guarantees. Where guarantees are required, we structure explicit step-down provisions tied to measurable milestones — and we explain every detail in writing: the amount, the conditions, and the path to reduction. For example, one of our clients, Bennett Health Associates, saw their personal guarantee drop from 100% to 25% in just fourteen months based on clinic performance milestones. For a deeper dive into how guarantee negotiation works, read Marcus Thibodeau's guide: The Personal Guarantee Trap.

We serve professional firms and service-based companies across Ontario. Our client base includes law firms, accounting practices, engineering consultancies, healthcare providers (dental, physiotherapy, medical), IT managed service providers, digital agencies, architectural firms, and other professional service businesses. What these firms have in common is recurring or predictable revenue, low tangible asset bases, and banking needs that are poorly served by credit models built for manufacturers and retailers. If your firm generates its revenue from expertise rather than physical goods, you're likely exactly the kind of business we were built to serve. Learn more about our founding story.

We publish everything. Our high-interest business savings account pays 3.25% on the first $250,000, 3.75% on $250K–$1M, and 4.10% above $1M (Q1 2026 rates). GIC rates are published daily and typically run 20–50 basis points above Big Five posted rates. Business operating accounts are $0/month for clients with a lending relationship, or $29/month standalone. Wire transfers: $15 domestic, $35 international. The full schedule — including every fee we charge — is on our Rates & Fees page, updated daily for variable products. We keep it to one readable page because 15-page account analysis statements aren't transparency — they're camouflage.