Beyond the Fine Print: Every Service, Explained in Plain Language

Rate

3.60% APY on balances up to $250,000. 3.85% APY on balances above $250,000. These aren't promotional rates that disappear after three months — they're our standard, everyday rates, available to every savings client from day one.

What You Won't Find Here

No minimum balance requirements. No tiered gimmicks that require $50,000 to get the advertised rate. No teaser rates that vanish after 90 days. The rate you see is the rate you get. We've maintained this policy since we opened our doors in 2014, and we publish a rate history so you can verify that for yourself.

How It Works

Interest is calculated daily on your closing balance and paid monthly on the last business day. Our rate-setting methodology is published quarterly — benchmarked to the Bank of Canada overnight rate minus our operating margin. You can see exactly how we arrive at our number. When the Bank of Canada moves rates, we update ours within 5 business days and notify every savings client by email. No quiet adjustments buried in a press release nobody reads.

Access Your Money

Unlimited free transfers between your Drayton savings and chequing accounts. No withdrawal penalties, no notice periods. Your money is liquid — that's the point of a savings account. If you'd prefer to lock in a higher rate, see our GIC options below.

Protection

CDIC insured up to $100,000 per eligible deposit category. Combined with registered accounts (TFSA, RRSP, etc.), a couple can hold well over $600,000 in fully insured deposits with us.

Deliverables

• Quarterly Annual Percentage Yield summaries
• Quarterly rate-setting methodology report
• Real-time account activity alerts via app or email
• Annual interest earned statement for tax filing

Terms & Rates

1-year, 2-year, 3-year, and 5-year terms available. Current posted rates range from 4.15% to 4.65% depending on term and type. Rates are published on our website and updated with every Bank of Canada rate decision. We also offer a GIC laddering strategy — splitting your deposit across multiple terms — so you're never fully locked in at one rate. Our advisors will model the ladder for you at no charge.

Cashable vs. Non-Cashable

We offer both — and we explain the difference before you sign anything. Cashable GICs give you flexibility to withdraw early (after a 30-day hold) at a slightly lower rate, typically 0.25–0.40% below the non-cashable equivalent. Non-cashable GICs lock in a higher rate for the full term. Early redemption terms are stated clearly in plain language, not buried in clause 14(b)(iii). If you're unsure which type suits your situation, our onboarding process includes a full review of your liquidity needs.

Minimum Deposit

$1,000 for all GIC terms. No maximum — though deposits above $100,000 in a single category exceed CDIC coverage. We'll flag that automatically and help you structure deposits across eligible categories for maximum protection.

Protection

All GICs with terms up to 5 years are CDIC insured up to $100,000 per eligible category.

Deliverables

• Certificate of deposit confirmation document
• Annual interest summary for tax reporting
• Maturity notification 30 days before term end
• Renewal options presented in writing with updated rate comparison

Accounts Available

RRSP, TFSA, RRIF, RESP, and FHSA — all CDIC-insured to applicable limits. Each registered account type is a separate insured category, which means a couple can have $600,000+ in CDIC-protected deposits across their various accounts. We help you map your deposit structure to maximize insurance coverage — it's one of the first things we do during our onboarding process.

Investment Options

GIC-based options and low-cost index fund portfolios. Our average Management Expense Ratio (MER) is 0.45%. The industry average? 2.31%. That difference compounds into tens of thousands of dollars over a career of saving. On a $300,000 portfolio over 25 years, you'd save approximately $142,000 in fees with us versus the industry average — money that stays in your retirement fund instead of someone else's revenue line. We publish side-by-side MER comparisons so you can see exactly what you save by banking with us.

What's Included

• RESP accounts include automatic CESG and ACES grant processing — we file the applications for you
• RRSP-to-RRIF conversion timeline planning, coordinated with your tax advisor
• Tax-optimized withdrawal scheduling to minimize clawbacks on OAS and GIS
• Contribution room tracking and annual reporting
• FHSA setup with first-time homebuyer qualification guidance

Deliverables

• Annual MER comparison report — your costs versus industry average
• Contribution room tracking statement
• Retirement cash flow projections modeled under 3 scenarios (conservative, moderate, optimistic)
• Annual portfolio performance summary with benchmark comparison

Timeline

Initial account setup: 3 business days. Full personalized financial plan: within 10 business days. If you're transferring registered accounts from another institution, we handle all the paperwork — typical transfer completion is 10–15 business days depending on the sending institution.

Product Options

Fixed and variable rate options with up to 25-year amortization. We publish our rate spread over the Government of Canada 5-year bond yield so you can see exactly how our rate is calculated — not just what it is. We also offer portable mortgages, meaning if you sell your home and buy another during your term, you can transfer your existing rate and conditions to the new property without penalty.

Our Mandatory 90-Minute Session

Every mortgage client sits down with a lending advisor for a full 90-minute consultative session. This is not a sales pitch. We use our Mortgage Reality Calculator to model your total cost of ownership under 3+ Bank of Canada rate scenarios — including a stress test at qualifying rate. We show you what happens to your payment if rates rise by 1%, 2%, or 3%. We frequently recommend borrowing less than you qualify for. (Yes, a bank that tells you to borrow less money. We know that sounds unusual.) See how this worked for a first-time homebuyer who saved $11,200 in interest.

Plain Language Guarantee

All mortgage documents are written at an eighth-grade reading level through our Plain Language Mortgage initiative. Darren Fisk's team rewrote every single template — all 47 pages of standard mortgage documentation — because if the document confuses you, that's our failure, not yours. Every clause includes a margin note in plain English explaining what it means and why it matters to you.

Key Terms

• 20% annual prepayment privilege — standard on all mortgages, no penalty
• Subject to OSFI Guideline B-20 stress test qualification
• Renewal rate guarantee: we lock your renewal rate 120 days before maturity
• Complimentary notary services for all mortgage closings at our Edmonton office

Deliverables

• Mortgage pre-approval letter (issued in 2 business days)
• Loan amortization table with full payment schedule
• Side-by-side rate scenario comparison document
• Plain-language mortgage document package
• Annual mortgage anniversary statement showing principal paid, interest paid, and remaining balance

Timeline

Pre-approval: 2 business days. Full approval: 5–7 business days after document submission. Closing coordination: our team manages the timeline with your realtor, lawyer, and notary so nothing falls through the cracks.

Products

Secured and unsecured lines of credit. Fixed-rate personal loans for auto purchases, home renovations, and debt consolidation. Secured lines of credit are available from prime + 0.50%, and unsecured lines start at prime + 2.50%, depending on your financial profile. We publish our rate ranges so you know what to expect before you walk in the door.

How We Underwrite

Most banks look at your credit score and call it a day. We consider your full financial context — cash flow patterns, employment stability, savings behaviour, debt-to-income ratio, and long-term goals. A three-digit number doesn't tell the whole story. We read the whole story. That's why our approval process may take a day longer than a big bank's automated system — but you'll get a lending decision that actually reflects your real financial health, not just an algorithm's snapshot.

What We Do Differently

Interest rate calculations are explained in writing before you sign anything. We show you the total cost of borrowing — principal plus all interest over the full term — not just the monthly payment. Loan insurance information is provided 2 weeks before closing — not pushed on you at the signing table when you're already mentally committed. That's a deliberate choice on our part. We want you to make insurance decisions with a clear head, not under pressure.

Repayment Flexibility

All personal loans include the option to make lump-sum payments of up to 15% of the original principal each year without penalty. Lines of credit have no minimum draw requirements — you only pay interest on what you actually use. And if your financial circumstances change, we offer payment deferral options with written terms provided upfront.

Deliverables

• Written rate explanation document before signing
• Full loan amortization schedule
• Complete cost-of-borrowing disclosure with total interest calculation
• Annual loan summary showing payments made and remaining balance

Timeline

Line of credit approval: 3–5 business days. Personal loan funding: 5–7 business days after approval. We'll keep you updated at every stage — no chasing required.

Debit Cards

Contactless tap-to-pay capability on every debit card, compatible with Apple Pay, Google Pay, and Samsung Pay. Interac Direct Payment accepted at all Canadian merchants. Real-time push notifications for every transaction through account activity alerts — so you know the moment money moves, not three days later when you check your statement. No surprises.

Credit Cards

Our credit cards include quarterly credit score monitoring reports — provided at no extra charge with all credit products. We pull from both Equifax and TransUnion so you see the full picture. Our standard Visa card carries no annual fee and a competitive interest rate of 19.99% — lower than the big banks' typical 20.99%. If you carry a balance (we'd rather you didn't, and we'll help you build a plan to stop), every fraction of a percent matters.

Credit Builder Secured Visa

Designed for newcomers to Canada and anyone rebuilding their credit. Minimum deposit: $300 (this becomes your credit limit). Reports to Equifax and TransUnion monthly. Most clients see measurable score improvement within 90 days. After 12 months of responsible use, many graduate to an unsecured card with a higher limit. This card pairs with our New Roots program — see below for details.

Interchange Transparency

Most banks never explain interchange fees — the charges merchants pay every time you use your card. We publish our interchange fee documentation because you deserve to understand where every cent goes. Transparency isn't just about your account; it's about the whole system.

Card Security

All cards include zero-liability fraud protection, instant card lock/unlock through our mobile app, and automated fraud detection monitoring. If something looks suspicious, we call you — a real person, not a robocall — within minutes.

Included With All Cards

• Contactless tap-to-pay capability
• Real-time account activity alerts
• Quarterly credit score monitoring reports (credit products)
• Mobile cheque deposit technology
• Instant card lock/unlock via mobile app
• Zero-liability fraud protection

Sizes & Annual Pricing

• Small (3" × 5" × 24"): $45/year — ideal for passports, birth certificates, small jewelry
• Medium (5" × 5" × 24"): $75/year — fits legal documents, deeds, multiple jewelry pieces
• Large (10" × 5" × 24"): $120/year — accommodates larger items, collectibles, family heirlooms

Essential Plus and Senior's Essential chequing clients receive a 20% discount on annual box rental. Private Banking clients receive one complimentary small box.

Security

Dual-key access system — your key and our key, required simultaneously. No one can access your box without both present. 24-hour digital surveillance with encrypted recording. Climate-controlled vault maintained at 18–21°C with humidity control to protect sensitive documents and materials. Our vault meets or exceeds ULC Class TXTL-60 standards.

Access

Available during branch business hours at our Edmonton office at 10723 Violet Henry King Plaza. No appointment required — walk in with valid government ID and your key. For estate situations, see our Estate & Transition Banking section below for access procedures.

The Part Most Banks Don't Mention

Safe deposit box contents are not CDIC insured. That's true at every bank, but most don't explain it clearly. We do. You'll want to add a rider to your home insurance policy for valuable items stored in a safe deposit box. We'll walk you through what that means, and if you're not sure what your policy covers, our advisors can help you draft the right questions to ask your insurance provider.

Eligibility

For clients with $500,000 or more in combined deposits and investments with Drayton Banking. This includes registered accounts (RRSP, TFSA, RESP, FHSA), GICs, savings balances, and investment portfolios. If you're approaching the threshold, let us know — we'll review your full relationship to see if you qualify.

What's Different

Let's be honest — at most banks, "private banking" means you get a nicer waiting room and a dedicated phone number to someone who still reads from a script. Here, it means the same radical transparency you'd get from any of our products, with significantly more hands-on attention:

• Dedicated personal advisor — named, with a direct phone line and email, not a call centre
• Priority mortgage processing (3 business days to full approval)
• Fee-waived Essential Plus chequing and all premium services
• Quarterly portfolio and cash flow review meetings — in person or by video
• Priority scheduling for all appointments, including same-day availability
• Complimentary small safe deposit box
• Preferential GIC rates (typically 0.10–0.15% above posted rates)

What's the Same

Every published fee breakdown, every incident report, every transparency commitment applies equally. Private banking isn't a gated community — it's the same bank, with more personal time dedicated to your financial picture. The same team, the same values, the same published methodologies. You just get more of our advisors' time.

How to Get Started

Book a consultation and mention private banking. We'll review your existing accounts and, if you qualify, assign your dedicated advisor within 5 business days.

For Mortgage & Lending Clients

Complimentary. Notary services are included with all mortgage and lending products. No extra charge, no fine print. Available by appointment at our Edmonton office at 10723 Violet Henry King Plaza. We coordinate notary timing with your mortgage closing date so you're not making extra trips or juggling separate appointments across the city.

For Non-Lending Clients

$25 per document. We keep it simple. No multi-page fee schedules for a stamp and a signature. Common documents we notarize include statutory declarations, affidavits, powers of attorney, certified true copies, and travel consent letters for minors.

Availability

By appointment during business hours, Monday through Friday. Same-week scheduling is typically available, and we often accommodate next-day requests. For mortgage closings, we build notary timing into your closing timeline from day one. Call us at (780) 555-0148 or book online to schedule.

What to Bring

• Valid government-issued photo ID (driver's licence, passport, or provincial ID)
• The document(s) to be notarized — unsigned (you'll sign in front of our notary)
• Any supporting documentation referenced in the forms

The Package

Our New Roots program was built because we watched too many newcomers get turned away — or worse, get steered into products that cost them money they didn't have. Whether you've just received your permanent residency, hold a valid work permit, or recently became a Canadian citizen, this program is designed to give you a fair start. Here's what you get:

• 24 months of fee-waived Essential Plus chequing (a $310.80 value)
• Secured Credit Builder Visa for credit building (reports to Equifax and TransUnion monthly)
• International Credit Recognition assessment — we evaluate your credit history from your home country
• Unlimited free Interac e-Transfers for sending money to family and managing Canadian payments
• Multilingual advisor support: English, French, Punjabi, Tagalog, and Mandarin
• "First Year in Canada" financial guide — covering SIN numbers, tax filing, credit building, and banking basics

The Credit Acceleration Roadmap

This is the part we're proudest of. Every New Roots client receives a personalized, 24-month Credit Acceleration Roadmap — a step-by-step plan to build a Canadian credit score from zero. It includes monthly milestones, specific actions to take each quarter, and check-ins with your advisor at months 3, 6, 12, and 18. Most clients reach 650+ within 9 months. Several have bought homes within 22 months of arriving in Canada. You can read some of their stories on our case studies page.

Eligibility

Available to permanent residents, work permit holders, and new Canadian citizens who have been in Canada for less than 3 years. No minimum deposit required. No Canadian credit history required. Bring your immigration documents and valid ID — that's all you need to get started.

Deliverables

• Personalized 24-month Credit Acceleration Roadmap
• Quarterly Credit Health Report in plain language
• "First Year in Canada" financial guide (available in 5 languages)
• Scheduled advisor check-ins at months 3, 6, 12, and 18

What We Handle

• Joint account conversions — transferring joint accounts to sole ownership
• Power of Attorney setups and activation
• Probate administration and estate account management
• Beneficiary claims processing
• RRSP/RRIF/TFSA beneficiary designations and direct transfers
• Safe deposit box access coordination for estate representatives

Our Speed

Average estate banking transition: 8 business days. Industry average: 25–40 business days. That's not a typo. When someone is grieving, three extra weeks of frozen accounts isn't just an inconvenience — it's a failure of basic decency. We prioritize estate transitions because the timing matters. Bills don't stop because someone has passed away, and families shouldn't have to fight their bank to keep the lights on.

Dedicated Team

Our Estate Transition team handles everything. You don't get bounced between departments. You don't repeat your situation to five different people. One team, one point of contact, start to finish. They'll walk you through every document you need, explain the legal requirements in plain language, and coordinate with your lawyer or estate attorney if needed.

Published Guide

We publish "What To Do When Someone Passes Away: A Banking Guide" — free for anyone, whether you bank with us or not. It covers how to notify financial institutions, what documents you'll need, how probate affects account access, and step-by-step checklists for the first 30 days. Because this information shouldn't be locked behind a client relationship. You can find it on our Insights page.

Fees

No estate administration fees. No account closure fees for deceased accounts. No "rush processing" surcharges. Other banks charge $50–$200 for estate processing. We don't.

What We Provide to Employers

• On-site enrollment sessions at your workplace — we come to you
• Payroll direct deposit integration with all major Canadian payroll providers
• Group fee discounts for employees: waived monthly fees on Essential Plus chequing
• Financial literacy workshops: budgeting, mortgage readiness, credit building, retirement planning, and tax-efficient saving
• Dedicated HR liaison for onboarding questions and ongoing support

Current Scale

23 Alberta employers. Over 4,100 employees enrolled. That number grows every quarter — entirely through word-of-mouth from HR teams who've seen the results firsthand. We don't cold-call employers or run corporate ad campaigns. Every partnership starts with someone saying, "You should talk to Drayton." Read more about the industries and communities we serve.

Why Employers Partner With Us

Financial stress is the number-one driver of workplace absenteeism. When your team has access to fair banking, honest credit-building tools, and someone who actually answers the phone when they call — that stress drops. The employers who partner with us see it in their retention numbers. One Edmonton healthcare employer reported a 14% reduction in turnover after implementing our workplace banking program. We don't claim causation — but the HR team does.

For Employees

If your employer is already a Drayton Workplace Partner, you're eligible for waived chequing fees, preferential lending rates, and access to on-site financial literacy sessions. Ask your HR team or contact us to find out if your company participates.

For HR Teams

Setting up a Workplace Banking Partnership takes about 2 weeks. We handle the enrollment logistics, provide all materials, and run the first information session on-site. There's no cost to the employer — our revenue comes from the banking relationships, not from the companies. Get in touch to schedule an introductory call.