Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
What to expect for GICs in 2024 Nov 21st
In late 2020, major banks were offering 5-year guaranteed investment certificates (GICs) with rates of less than 1%. Now, just three years later, bank GIC rates for 5-year terms are over 4%. Some credit unions and trust companies are offering rates over 6% for short-term GICs, though 4- and 5-ye.... More »
Canada’s best rewards credit cards for 2023 Jun 17th
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The 10 best rewards credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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The best high-interest savings accounts in Canada for 2024 May 19th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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Lost wallet? Here’s how to protect yourself from fraud Mar 29th
You’re rushing out the door and you pat that familiar spot to confirm you’ve got your wallet, only to find…nothing. I don’t know about you, but after searching yesterday’s pockets, my mind goes to some dark places. First, the kitchen pantry. Maybe I put the granola bar in my purse and my w.... More »
Is Wealthsimple a bank? Not exactly, but it’s launching new “banking” services Jun 12th
Canadians aren’t short of credit card options, that’s for sure. At an average of two to three credit cards per person, we have more credit cards than debit cards in our wallets. But there’s still room for one more, suggests Wealthsimple with its recently launched bank-like offerings, including.... More »
EQ Bank review 2021
– moneysense.ca
Online-only banks are increasingly popular due to their competitive, no-fee accounts, in concert with the increasing switch to digital spurred by COVID-19. With some of the most competitive savings and GIC accounts in the country, EQ Bank is helping lead the charge.
As an online-only financial institution, EQ Bank can offer more competitive accounts because it doesn’t have the cost of managing brick-and-mortar branches. They can pass the savings to you in the form of higher interest rates and no-fee everyday service fees.
EQ Bank accounts: overview
As an online-only financial institution, EQ Bank can offer more competitive accounts because it doesn’t have the cost of managing brick-and-mortar branches. They can pass the savings to you in the form of higher interest rates and no-fee everyday service fees.
EQ Bank accounts: overview
Account type
Interest rate
Perks
High-interest account
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1.25%
No minimum balance
Free withdrawals
Free e-transfers
Joint accounts
Cheap international money transfers
TFSA account
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2.30%
No minimum balance
Free withdrawals
Tax-free savings
RSP Savings Account
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2.30%
No minimum balance
Tax-deferred savings
EQ GICs
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1.25% – 2.25%
3-month to 10-year GICs
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7 quick facts about EQ Bank
EQ Bank is owned by Equitable Bank, the ninth-largest domestic bank in Canada, and has over $35 billion in assets under management…
