Everyday Banking

No fees on everyday banking

Eligible for CDIC protection (Footnote ^†)

Personal Account

4.00%^*

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

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Notice Savings Account

Up to 7x more⁶

Some of the best savings rates in Canada and access to 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

3.00%^*

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

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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.

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 purchase (Footnote ²)

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

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 1.25% (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 2.75%) 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 3.00% interest per annum. Research is based on savings account interest rates taken from public websites as at March 18, 2025. 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 3.00% 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 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 March 4, 2025. 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, International Money Transfers, RSP Savings Accounts, RSP GICs, FHSA Savings Account, FHSA GICs, Business Account, and Business GICs. Additionally, the EQ to EQ transfers feature is not available in Quebec.

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It’s time for banking that puts you first.

Spend, save, and earn.

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

Make Bank with one of Canada’s best.

We checked and... we check all the boxes

Ready for everyday banking that earns more?

About Us

Resources

Accounts

It’s time for banking that puts you first.

Spend, save, and earn.

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

Make Bank with one of Canada’s best.

We checked and... we check all the boxes

Ready for everyday banking that earns more?

About Us

Resources

Accounts

Social

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