Haventree Bank is moving beyond the broker channel and into the hands of Canadian consumers.
The Toronto-based Schedule 1 Canadian bank today announced the launch of its direct-to-consumer digital bank, introducing a new suite of deposit products under the Haventree Bank brand.
The launch marks a significant evolution for Haventree, which has long been known for alternative mortgage lending originated through mortgage brokers. With its new digital banking platform, the federally regulated lender is now moving directly into the consumer market with savings-focused products designed around simplicity, accessibility, and steady growth.
Haventree says the digital bank combines the safety and stability of a Canadian bank with the convenience of a modern digital banking experience. Its first products include an Everyday Growth Account and Guaranteed Investment Certificates.
“We’ve spent decades looking at the full picture of a person’s circumstances and aiming to provide a path forward with our mortgage products originated through mortgage brokers,” said Fern Glowinsky, President and CEO of Haventree Bank. “Now, with the digital bank, we are extending that approach directly to Canadians, with deposit products that are simple, secure, and designed for steady growth over time.”
The Everyday Growth Account launches with a 2.50 per cent interest rate, no monthly fees, and no minimum balance requirement. Haventree describes it as a hybrid chequing and savings account where every dollar earns interest from day one.
The account also includes multi-account functionality for up to eight accounts, bill payments, Interac e-Transfers, direct deposits, EFTs, and joint accounts.
Haventree is also offering GIC products for Canadians looking for predictable fixed returns, including what the bank describes as a leading rate for a two-year term.
As a CDIC member institution, Haventree says eligible deposits are protected, with customer funds held to the same standards expected of Canada’s largest financial institutions.
For Haventree, the launch is also a brand-building moment. While the bank has been operating for decades in the Canadian mortgage market, the new digital bank introduces Haventree directly to many consumers for the first time.
The company says more financial products and tools are planned as part of the digital bank’s evolution.
The Everyday Growth Account and GICs are available at haventreebank.com, with the Haventree Bank app available through the Apple App Store and Google Play.
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