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Still using the account your parents signed you up for? Stop paying fees and start earning interest on your everyday banking.

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Make Bank with one of Canada’s best.

Rated one of Forbes’ Best Banks in Canada 4 years in a row. Our customers have spoken—they’re here for less take and more make.

No fees on everyday banking

Eligible for CDIC protection^†

No fees

Eligible for CDIC protection^†

Personal Account

4.00%^*

The best features of a chequing account with high interest and no fees on everyday banking.

Start earning Learn more

Notice Savings Account

up to 7x more⁶

Some of the best savings rates in Canada and access your money with as little as 10 days notice.

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Joint Account

4.00%^*

Shared banking for up to 3 people with the features of the Personal Account.

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US Dollar Account

2.75%^*

High interest earnings on US dollars with easy transfer features and competitive exchange rates.

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GICs

4.30%^** (1-year rate)

Low risk registered and non-registered investing with guaranteed returns and a range of terms.

Start investing Learn more

RSP Savings Account

2.75%^*

High interest investing for retirement savings with tax-deductible contributions.

Start investing Learn more

TFSA Savings Account

2.75%^*

High interest tax-free earnings with the flexibility to make free withdrawals.

Start investing Learn more

FHSA Savings Account

2.75%^*

High interest tax-free earnings on savings for a first home with tax-deductible contributions.

Start saving Learn more

EQ Bank Card

A reloadable spending card⁴ with cash back², free withdrawals from any ATM in Canada, and more.

Get your free card Learn more

International Money Transfers

No markup exchange rate for sending money abroad in a few steps—up to 8×^‡ cheaper than other banks.

Send money abroad Learn more

Mortgage Marketplace

One-stop shopping database of 2,000+ mortgage products with great rates and a simple online process.

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It’s time for the everyday banking you deserve

Get ready to make

Monthly fees? No way. 4.00% 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

A Top Bank in Canada
2024 Forbes World’s Best Banks
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

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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 Personal Account. Rates are per annum and subject to change without notice. For the Personal Account, Joint Account and EQ Bank Card, the current base interest rate is 2.25% (the “Base Rate”). Customers who add and maintain qualifying recurring direct deposits of at least $2000/month to a Personal Account or Joint Account are eligible to earn a bonus interest rate of 4.00% (the Base Rate plus an additional 1.75%) for the eligible accounts (the Personal Account, Joint Account, and the EQ Bank Card balance). 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 Personal 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 6: Based on research conducted by Equitable Bank comparing base interest rates of savings accounts offered by Canada’s ‘Big 5’ banks, Tangerine Bank, and Simplii Financial and the EQ Bank Notice Savings Account at 4.25% interest per annum. Research is based on savings account interest rates taken from public websites as at August 28, 2024. Promotions and rate premiums are excluded. Interest calculated daily on the total closing balance and paid monthly. Most savings accounts in Canada allow the account holder to access funds in the account at any time, whereas the EQ Bank Notice Savings Account at 4.25% interest per annum requires 30 days advance notice.

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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.

^{Return to footnote ** referrer}
Footnote: EQ Bank does not offer the following products in the province of Quebec: US Dollar Account, International Money Transfers, RSP Savings Accounts, RSP GICs, FHSA Savings Account, FHSA GICs, Business Account, Business GICs, and Notice Savings Account. Additionally, the EQ to EQ transfers feature is not available in Quebec.

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Get a second chance at your first bank account.

Personal Account

Notice Savings Account

GICs

Make Bank with one of Canada’s best.

Personal Account

Notice Savings Account

Joint Account

US Dollar Account

GICs

RSP Savings Account

TFSA Savings Account

FHSA Savings Account

EQ Bank Card

International Money Transfers

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

We checked and...
we check all the boxes