RSP Savings Account Give your retirement savings a boost

Earn high interest on every tax-deferred dollar in your RSP account—or lock in up to 3.85%** with an RSP GIC.

The RSP Savings Account is not currently available in Quebec.

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Get guaranteed returns with RSP GICs 

If you’re saving for retirement and want to lock in growth and get the tax-deferral benefits of RSPs, then an RSP GIC is a great investment to consider—and EQ Bank offers some of the highest rates in the market. 

Featured RSP GIC rates


1Year

3.85%**

Get this rate

2 Year

3.75%**

Get this rate

Explore our other great rates and range of term options here.

How to buy an RSP GIC

Not yet an EQ Bank customer? No problem.

  1. Start by opening a Personal Account (it’s easy and only takes a few minutes).

    If you’re not familiar with the benefits, this account gives you high interest with zero fees on everyday banking—a great way to earn more when you’re not busy saving for retirement.

  2. From there, you can open an RSP Savings Account in a few simple steps.

    This account gives you 2.50% interest* on every tax-deferred dollar with zero fees.

  3. Add funds to your account

    An easy process that only takes a few clicks.

  4. Buy an RSP GIC

    Once your funds have been added to your account, you can buy an RSP GIC in seconds!

Get started by opening a Personal Account

If you’re already an EQ Bank customer, you can open an RSP account from your web browser or mobile app in just a few simple steps—and then buy an RSP GIC in seconds. Sign in

Make the most of your RSP contributions

Whether you make regular RSP contributions or prefer to invest annually, the RSP Savings Account is a great way to save on taxes (contributions are tax deductible) and earn 2.50% interest* with a range of other benefits—including zero fees, no phone calls, and no lining up at a branch.

Want completely tax-free savings? We’ve got a TFSA for that.

Learn more about our TFSA

Is our RSP Savings Account right for you?

It’s right for you if:

  • You’re looking to save for retirement.
  • You plan on contributing to your RSP to reduce your taxable income, while your investments grow on a tax-deferred basis.
  • You understand the maximum you can contribute each year as set by the Canadian government, which depends on your income.
  • You’re looking for an account that’s eligible for CDIC protection.
  • You're looking for a completely digital banking experience.

It’s not right for you if:

  • You don’t have available contribution room.
  • You expect to access these funds for emergencies or more immediate savings goals.
  • You’re turning 71 this year, as you can only hold and contribute to an RSP until the year you turn 71.
  • You’re a Quebec resident.

Quick refresher on RSPs

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

Get the answers

Visit our FAQ for more details about our RSPs.

Ready to earn more on RSPs?

Start by opening a Personal Account first.

Get started by opening a Personal Account

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

Learn more about all things RSP

Want more info about the ins and outs of an RSP? You’ve come to the right place. 

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