Located along the Bow river near downtown Banff you'll find the Banff Canoe Club. Park along Bow Ave. You can rent canoes, kayaks and stand up paddle boards and leave from the dock up the river or take a right and head out to Vermillion Lakes depending on the water levels. There is also the option to rent canoes and take them elsewhere for an additional cost depending on availability.
Opening day for the Banff Canoe Club is May 15th and depending on whether canoes are generally available until the end of September. Call to make sure canoes are still out if you are near the end of season.
Rental canoes are available:
9am-9pm July-September (last boat out at 8pm)
$40 for the 1st hour per boat
$20 for each additional hour per boat