Everyday Banking

Rated #1 Bank in Canada (again).

We’ve been named the #1 Bank in Canada on the Forbes 2023 list of the World’s Best Banks. Just another reason to add EQ in minutes.
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Everyday banking. Everyday high interest.
Save, earn, and spend with high interest and no fees on everyday banking.
Join now
GICs Earn 5.75%^** on a 1-year GIC.
There’s no safer bet than a guaranteed rate, and with EQ Bank, you can buy a GIC in seconds—and choose from a range of term options.
Learn more about our G.I.C. options
FHSA Savings Account Put your money where the make is.
Earn high interest towards your down payment savings with a tax-free account designed specifically for first-time homebuyers.
The FHSA Savings Account is not currently available in Quebec.
Learn more about our FHSA Savings Account

Enough with all the take. It's time to make. Make bank.

Sometimes it can feel like the whole world is out to take. Offering less and less while charging you more and more. And for what? Taking your cash to store your cash? No thanks. It’s time for the opposite of take. It’s time to make. Get an account that offers high interest and no fees on everyday banking. Want to Make Bank? Welcome to EQ Bank.

I want…

Savings Plus Account

Enjoy many of the benefits of a chequing account plus unlimited transactions¹ and high interest.

Earn 3.00% interest^* (2.50% everyday interest^* + 0.50%^* when you direct deposit your pay or set up recurring pre-authorized debits)
No monthly fees or minimum balance
Free unlimited bill payments, Interac e-Transfers^® and more¹
Free withdrawals from any ATM in Canada and cash back² with the EQ Bank Card

Start earning Learn more

Joint Savings Plus Account

All the everyday banking perks of the Savings Plus Account, for a smarter shared banking experience.

Earn 3.00% interest^* (2.50% everyday interest^* + 0.50%^* when you direct deposit your pay or set up recurring pre-authorized debits)
Easy online sign-up with zero paperwork
Add up to 3 people in a single click

Start earning Learn more

TFSA Savings Account

Earn more with high interest and tax-free earnings.

3.00% interest^*, tax-free
Zero fees for bigger earnings
No minimum balance
No-nonsense online sign-up in minutes

Start investing Learn more

US Dollar Account

Earn more on US dollars without the nonsense of annoying fees.

3.00% interest^* on every dollar
No monthly fees
Seriously competitive exchange rate
A fast, cheap way to send US dollars abroad

Start earning Learn more

GICs

Invest it and forget it with guaranteed rates on our registered and non-registered GICs.

FEATURED RATE: 5.75%^**on a 1-year GIC
Invest for the short term or long term
Invest with as little as $100 with our low minimum deposit
Skip the hassle and buy a GIC in seconds

Start investing Learn more

RSP Savings Account

Grow your retirement savings the smart way.

3.00% interest^* on every tax-deferred dollar
Zero fees for bigger earnings
No minimum balance or other banking nonsense
Online sign-up in minutes

Start investing Learn more

TFSA Savings Account

Invest smarter with high interest and tax-free earnings.

3.00% interest^*, tax-free
Zero fees for bigger earnings
No minimum balance
No-nonsense online sign-up in minutes

Start investing Learn more

FHSA Savings Account

Reach your home ownership goal with a tax-free account designed for first-time homebuyers.

3.00% tax-free interest^*
Contributions are deducted from taxable income
Qualifying tax-free withdrawals⁵ that don’t need to be repaid
Easy online sign-up in minutes

Start saving Learn more

EQ Bank Card

A reloadable card⁴ for spending and earning more (without all the fees).

Make free withdrawals from any ATM in Canada
Get cash back on every purchase²
Earn the same high interest rate as your Savings Plus Account right up until you spend
No FX fees³, monthly fees, or other hidden fees

The EQ Bank Card is not currently available in Quebec.

Get your free card Learn more

International Money Transfers

Need to send money or make payments abroad? Do it for a whole lot less.

Up to 8×^‡ cheaper than other banks
A no-nonsense, zero-markup exchange rate
Send money direct from your account in a few easy steps
Get your money there fast (some transfers are instant!)

Send money abroad Learn more

Mortgage Marketplace

The no-nonsense way to find the best mortgage that’s right for you.

Access 2,000+ mortgage products in one place
Get the best rates right from the start
Simple online process

Learn more

I want…

Banking that earns

Savings Plus Account

Enjoy many of the benefits of a chequing account plus unlimited transactions¹ and high interest.
- Earn 3.00% interest^* (2.50% everyday interest^* + 0.50%^* when you direct deposit your pay or set up recurring pre-authorized debits)
- No monthly fees or minimum balance
- Free unlimited bill payments, Interac e-Transfers^® and more¹
- Free withdrawals from any ATM in Canada and cash back² with the EQ Bank Card
Start earning by getting a Savings Plus Account Learn more about our Savings Plus Account
Joint Savings Plus Account

All the everyday banking perks of the Savings Plus Account, for a smarter shared banking experience.
- Earn 3.00% interest^* (2.50% everyday interest^* + 0.50%^* when you direct deposit your pay or set up recurring pre-authorized debits)
- Easy online sign-up with zero paperwork
- Add up to 3 people in a single click
Start earning by getting a Joint Plus Account Learn more about our Joint Plus Account
TFSA Savings Account

Earn more with high interest and tax-free earnings.
- 3.00% interest^*, tax-free
- Zero fees for bigger earnings
- No minimum balance
- No-nonsense online sign-up in minutes
Start investing by getting a Tax-Free Savings Account Learn more about our Tax-Free Savings Account
US Dollar Account

Earn more on US dollars without the nonsense of annoying fees.
- 3.00% interest^* on every dollar
- No monthly fees
- Seriously competitive exchange rate
- A fast, cheap way to send US dollars abroad
Start earning by getting a US Dollar Account Learn more about U.S. Dollar Account

Investments that grow

GICs

Invest it and forget it with guaranteed rates on our registered and non-registered GICs.
- FEATURED RATE: 5.75%^**on a 1-year GIC
- Invest for the short term or long term
- Invest with as little as $100 with our low minimum deposit
- Skip the hassle and buy a GIC in seconds
Start investing by getting a G.I.C. Learn more about our G.I.C. options
RSP Savings Account

Grow your retirement savings the smart way.
- 3.00% interest^* on every tax-deferred dollar
- Zero fees for bigger earnings
- No minimum balance or other banking nonsense
- Online sign-up in minutes
Start investing by getting an R.S.P. Savings Account Learn more about our R.S.P. Savings Account
TFSA Savings Account

Invest smarter with high interest and tax-free earnings.
- 3.00% interest^*, tax-free
- Zero fees for bigger earnings
- No minimum balance
- No-nonsense online sign-up in minutes
Start investing by getting a Tax-Free Savings Account Learn more about our Tax-Free Savings Account
FHSA Savings Account

Reach your home ownership goal with a tax-free account designed for first-time homebuyers.
- 3.00% tax-free interest^*
- Contributions are deducted from taxable income
- Qualifying tax-free withdrawals⁵ that don’t need to be repaid
- Easy online sign-up in minutes
Start saving by getting an FHSA Savings Account Learn more about our FHSA Savings Account

A smart way to pay

EQ Bank Card

A reloadable card⁴ for spending and earning more (without all the fees).
- Make free withdrawals from any ATM in Canada
- Get cash back on every purchase²
- Earn the same high interest rate as your Savings Plus Account right up until you spend
- No FX fees³, monthly fees, or other hidden fees
The EQ Bank Card is not currently available in Quebec.
Get your free card in a few easy steps Learn more about the EQ Bank Card
International Money Transfers

Need to send money or make payments abroad? Do it for a whole lot less.
- Up to 8×^‡ cheaper than other banks
- A no-nonsense, zero-markup exchange rate
- Send money direct from your account in a few easy steps
- Get your money there fast (some transfers are instant!)
Send money abroad in a few easy steps Learn more about our about our International Money Transfers

A mortgage that’s worth it

Mortgage Marketplace

The no-nonsense way to find the best mortgage that’s right for you.
- Access 2,000+ mortgage products in one place
- Get the best rates right from the start
- Simple online process
Learn more about Mortgage Marketplace

It’s time for the everyday banking you deserve

Get ready to make

Monthly fees? No way. 3.00% interest^* on everyday banking with unlimited transactions¹? Absolutely. Plus free withdrawals from any ATM in Canada and cash back on every purchase² with the EQ Bank Card.

Without all the take

No gimmicks, no accounts you don’t need, just seamless digital banking where all of our customers get access to our great rates—with no annoying paperwork or lineups.

We’re secure and trusted too

We have top-notch security and all of our deposit products are eligible for CDIC deposit insurance^†. We’re also trusted by hundreds of thousands of customers to the tune of over $7B in deposits—and backed by Equitable Bank which has 50+ years of experience in the Canadian market.

Screenshot of intuitive digital banking interface

It’s time for the everyday banking you deserve

Get ready to make

Without all the take

No gimmicks, no accounts you don’t need, just seamless digital banking where all of our customers get access to our great rates—with no annoying paperwork or lineups.

We’re secure and trusted too

Screenshot of intuitive mobile digital banking interface

We checked and...
we check all the boxes

At EQ Bank, you get:
High interest on everyday banking
Same access to great rates for all customers
No monthly or hidden fees and free everyday transactions
No bank account minimum balances
No branches = more value
Free withdrawals from any ATM in Canada
Cash back on every purchase²

At other banks, you often get:
Barely-there interest rates on everyday banking
Interest rate incentives for new customers only
Monthly and hidden fees, transaction fees, etc.
Bank account minimum balances often required
Expensive branches = more costs
Fees with certain ATMs
Cash back that can be restricted to certain partners

Our customers have been talking

“EQ Bank has shown time and time again that they listen to the needs of consumers and continue to adapt to meet those needs.”
Michael
“Very unique bank with very competitive interest rates, very innovative and separate from mainstream big banks.”
Robin
“I love my banking experience with EQ, which includes higher interest rate than other banks, no- fee transactions in Canada and awesome customer service.”
Pat
“Among the new generation virtual banks, EQ Bank is really competitive and worth consideration for selecting it as a conduit for savings under TFSA, RRSP etc.”
Siv
“I will bring all my savings to EQ Bank because I tested the services and I like the experience.”
Antonio
“Easy to use and great interest rates. I’m a new customer but I am sure I will be a lifelong customer. Great that there are TFSAs now. Keep up the great work.”
David
“I'm so happy with my experience with EQ Bank so far. I switched from one of the Big 6 banks to EQ back in 2017 and I never looked back. EQ has really helped me reach my financial goals. Thanks EQ!”
KT
“As a young adult trying to save for my future, EQ Bank's interest rates for a traditional savings account within a TFSA are simply unparalleled. The decision to open an account with them was a no-brainer!”
Bobby

Getting noticed in a big way

Top Bank in Canada

2023 Forbes World’s Best Banks
Top Bank in Canada
2022 Forbes World’s Best Banks
Top Bank in Canada
2021 Forbes World’s Best Banks
EQ Bank mobile app

Over 18,000 ratings
Top High-Interest Savings Account
2021 ratehub.ca Personal Finance Awards
Top RRSP Savings Account
2021 ratehub.ca Personal Finance Awards
Top TFSA Savings Account
2021 ratehub.ca Personal Finance Awards
Best Savings Account
2021 greedyrates Awards
Most Innovative Cloud Deployment
2020 IBS Intelligence Global FinTech Innovation Awards
Model Bank Winner for Banking in the Cloud
2020 Celent Model Bank Awards
Top High-Interest Savings Account
2020 ratehub.ca Personal Finance Awards
We actually have more
But you get the idea…

Hold on...are you still not convinced?

Most people never scroll down this far, but if you really, really need a recap, we’re not opposed to a cheat sheet on everyday banking that makes without all the take:

Earn more with incredible rates and no monthly fees
Enjoy everyday banking with free everyday transactions and no minimum balance restrictions
Get safety and security from a bank you can trust

Are you ready now?

Education Centre

Unpacking all things money.

Articles

Borrowing

How to save for a house

Read now
Everyday Banking

5 benefits of a Savings Plus Account

Read now
Everyday Banking

4 ways EQ Bank makes integrated banking easy

Read now

Stay up to date on all things EQ Bank

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Footnotes

Footnote *: Interest is calculated daily on the total closing balance and paid monthly. For the EQ Bank Card, interest is paid into the linked Savings Plus Account. Rates are per annum and subject to change without notice. For the Savings Plus Account, Joint Savings Plus Account and EQ Bank Card, the current base interest rate is 2.50%. Customers who add and maintain qualifying recurring direct deposits or pre-authorized debits of at least $500/month to/from a Savings Plus Account or Joint Savings Plus Account are eligible to earn a bonus interest rate of 3.00% for the eligible accounts (the Savings Plus Account, Joint Savings Account and the EQ Bank Card balance) for a maximum period of 12 consecutive months. Conditions apply. Please review the EQ Bank Bonus Interest Offer Terms and Conditions for details.

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Footnote 1: Transactions are subject to certain dollar limit maximums. For details, please see our Savings Plus Account Fees & Features page.

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Footnote 2: Cash back will be paid monthly. See the EQ Bank Card Agreement for details on earning cash back and other terms and conditions that apply to the EQ Bank Card.

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Footnote 3: Foreign currency transactions will be subject to the Mastercard Currency Conversion rate. EQ Bank does not charge any additional FX fee or markup.

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Footnote 4: The EQ Bank Card is a prepaid reloadable Mastercard^® issued by Equitable Bank pursuant to a licence from Mastercard International Incorporated.

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Footnote 5: To make a “qualifying withdrawal”, you must be a first-time homebuyer who is a resident of Canada, have a written agreement to buy or build a qualifying home in Canada before October 1 of the year following the year of withdrawal, and intend to occupy the qualifying home as your principal place of residence within one year of buying or building it. You must not have acquired the qualifying home more than 30 days before making the withdrawal.

You will be considered to be a "first-time home buyer” for the purposes of a qualifying withdrawal if, at any time in the calendar year before the withdrawal (except the 30 days immediately before the withdrawal) or at any time in the preceding four calendar years, you did not live in a qualifying home (or what would be a qualifying home if located in Canada) as your principal place of residence that you owned or jointly owned.

A "qualifying home" is defined as a housing unit located in Canada. This includes existing homes and those being constructed, such as single-family homes, semi-detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes, or apartment buildings, but does not include a share that only provides you with a right to tenancy in the housing unit.

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Footnote ®: Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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Footnote †: Equitable Bank is a member of CDIC. EQ Bank is a trade name of Equitable Bank. Deposits made under EQ Bank and Equitable Bank are aggregately eligible for CDIC protection up to $100,000, per insured category, per depositor.

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Footnote ‡: Based on research conducted by Equitable Bank comparing exchange rates and transaction fees from Wise, Canada’s ‘Big 5’ banks and Simplii Financial. Research considered comparable online global money transfer services and was conducted using the following transactions for $500 CAD: total cost to send CAD to INR in India, total cost to send CAD to USD in the United States and total cost to send CAD to EUR in France. Research took place on February 16^th, 2022. Promotions excluded.

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Footnote ®: Trade-mark of Interac Corp. Used under licence.

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Footnote **: EQ Bank GICs are non-redeemable. For GIC terms equal to one year, simple interest is calculated on a per annum basis and paid at maturity. Interest is accrued for the entire GIC term. Rates are calculated on a per annum basis and are subject to change at any time.

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Footnote: EQ Bank does not offer the following products in the province of Quebec: US Dollar Account, the EQ Bank Card, International Money Transfers, RSP Savings Accounts, RSP GICs, FHSA Savings Account, and FHSA GICs. Additionally, the EQ to EQ transfers feature is not available in Quebec.

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Rated #1 Bank in Canada (again).

Everyday banking. Everyday high interest.

GICs Earn 5.75%** on a 1-year GIC.

FHSA Savings Account Put your money where the make is.

Enough with all the take. It's time to make. Make bank.

I want…

Savings Plus Account

Joint Savings Plus Account

TFSA Savings Account

US Dollar Account

GICs

RSP Savings Account

TFSA Savings Account

FHSA Savings Account

EQ Bank Card

International Money Transfers

Mortgage Marketplace

I want…

Banking that earns

Savings Plus Account

Joint Savings Plus Account

TFSA Savings Account

US Dollar Account

Investments that grow

GICs

RSP Savings Account

TFSA Savings Account

FHSA Savings Account

A smart way to pay

EQ Bank Card

International Money Transfers

A mortgage that’s worth it

Mortgage Marketplace

It’s time for the everyday banking you deserve

Get ready to make

Without all the take

We’re secure and trusted too

It’s time for the everyday banking you deserve

Get ready to make

Without all the take

We’re secure and trusted too

We checked and...we check all the boxes

Our customers have been talking

Getting noticed in a big way

Hold on...are you still not convinced?

Education Centre

Articles

How to save for a house

5 benefits of a Savings Plus Account

4 ways EQ Bank makes integrated banking easy

Stay up to date on all things EQ Bank

GICs Earn 5.75%^** on a 1-year GIC.

We checked and...
we check all the boxes