High Interest Savings Account

The Perks

$200,000 Maximum Balance (per customer)
Everyday High Interest Rate
Zero Minimum Balance
Zero Everyday Banking Fees
Free Interac e-Transfers^®
Free Bill Payments
Free Electronic Funds Transfers
Free EQ to EQ Transfers
Cheap International Money Transfers

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Send Money Abroad For Less

We’ve partnered with Wise so you can send fast international money transfers that are up to 8× cheaper^‡. With no hidden fees or markups, you’ll get full transparency and the real exchange rate you see online. You’ll also get the convenience of sending money abroad direct from your account in just a few easy steps.

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Invest in Yourself and set up Savings Goals

Track your progress by creating goals. We designed this tool so you can feel good about putting your hard-earned money aside.

You Won’t Need Patience with our handy features

Whether it’s between your EQ Connections or linked bank accounts, through Interac e-Transfers^® or Mobile Cheque Deposits, you’ll be able to manage your money wherever you go.

Why is EQ Bank the Right Choice?

Locally Grown

Born in Canada and helping Canadians meet their financial goals for over 45 years.

Strength in Numbers

$35 billion in assets under management and over 900 employees.

Safety First

All deposit products are eligible for CDIC deposit insurance^†.

Footnotes

Footnote *

Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.

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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 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 both $500 CAD and $999 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 October 19, 2020. Promotions excluded.

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Footnote ◊

Based on research conducted by Equitable Bank comparing interest rates of base savings accounts offered by Canada’s ‘Big 5’ banks. Rates were compared using a ratio analysis. Research is based on savings account interest rates taken from public websites as at April 14, 2021. Promotions and Rate Premiums are excluded.

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Earn more without all the banking nonsense