RSP Carousel

Meet the all-new EQ Bank RSP Savings Account.

2.30% interest* on every tax-deferred dollar

Zero fees

No minimum balance

No hassles, sign up in minutes

Get started
2.30%** on a 3 month RSP GIC

Lock in your tax-deferred savings with our flexible terms at guaranteed rates.
Get this rate

A better approach to retirement saving

Saving for your future is one of the smartest things you can do, but it’s not always easy to get there. With no fees, teaser rates, or fancy jargon, our RSP is not only a low-tax way to save, it’s a smart one, too—especially when you’re earning 2.30% interest*. Plus, you can open one online in minutes. It’s all designed to bring you closer to your retirement goals, faster.

Why open an RSP?

An RSP comes with some pretty sweet tax advantages. You get to deduct what you contribute from your taxable income that year. Plus, you won’t pay tax on the interest you earn. You will be taxed when you withdraw at retirement—but by then, you’ll likely be in a lower tax bracket.

How our RSP stacks up

Make your money grow—fast

Build your retirement savings with an interest rate of 2.30%*. Yes, you read that correctly. Psst, the sooner you start, the more you earn. Older you thanks you.

Quick & easy online sign-up

Open an RSP online in minutes right from the comfort of your sofa. In your sweatpants. While binging old TV series. No branches. No phone calls. No hassles.

Automate your retirement

Set up regular contributions with our smooth and seamless account linking. You can kick back, while your tax-deductible nest egg grows.

Hello, zero fees

Sounds radical, but we believe your money is your money. No fees here. Just all of your savings right there in plain sight.

Serious security you can trust

Your deposits are eligible for Canada Deposit Insurance Corporation (CDIC) protection^†. In other words, your money gets federal Crown-level security.

Tax time, digitized

Sorry, you still have to do your taxes, but we’ve made them easier. No waiting around for mail here. We’ll notify you when your tax slips are ready—all you have to do is sign in and download your PDFs.

Open an RSP in a matter of clicks

Not yet an EQ Bank customer? No problem. Start by opening a Savings Plus Account first (it’s really easy). From there, opening your RSP is a breeze. Get started

If you’re already an EQ Bank customer, you can open an RSP right from your web browser or mobile app in just a few simple steps. Sign in

Earn guaranteed interest with an RSP GIC

Why not guarantee your interest—with the tax benefits of an RSP? Choose from our flexible GIC options to lock in your savings, and defer the tax on your contribution and the interest earned. All in a matter of clicks.

EQ Bank RSP GIC terms & rates
Term	Rate**	Start Investing
3 Month GIC	2.30%	Get rate
6 Month GIC	1.80%	Get rate
9 Month GIC	1.65%	Get rate
1 Year GIC	1.50%	Get rate
15 Month GIC	1.05%	Get rate
2 Year GIC	1.05%	Get rate
27 Month GIC	1.05%	Get rate
3 Year GIC	1.15%	Get rate
4 Year GIC	1.25%	Get rate
5 Year GIC	1.50%	Get rate
6 Year GIC	1.60%	Get rate
7 Year GIC	1.70%	Get rate
10 Year GIC	2.00%	Get rate

We’ve got standard GICs, too—you can find them here.

Visit our FAQ for more details about RSPs.

Reach your retirement goals faster

New customer? Sign up for free in minutes.

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Already a customer? Sign in

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 **

EQ Bank GICs are non-redeemable. For GIC terms of less than one year, simple interest is calculated on a per diem basis and paid at maturity. For GIC terms equal to one year, simple interest is calculated on a per annum basis and paid at maturity. For GIC terms of over one year, not including 15 and 27 month terms, interest is calculated on a per annum basis and paid either annually (simple interest) or at maturity (compounded annually). For GIC terms of 15 and 27 months, interest is calculated on a per annum basis, compounded annually and paid solely at maturity. In all cases, interest is accrued for the entire GIC term. Maximum 20 GICs per customer. Per GIC investment limit of $100,000. Aggregate GIC investment limit of $500,000. Except for our limited time rates, the rates shown are in effect as at January 13th, 2021. Rates are calculated on a per annum basis and are subject to change at any time.

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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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Equitable Bank is a member of CDIC. EQ Bank is a trademark of Equitable Bank.