EQ Bank : 2.25 % on ENTIRE balance for Existing & New Customers

https://www.eqbank.ca/personal-banking/features-rates

EQ Bank is a trademark of Equitable Bank, used to describe our new digital bank - featuring no monthly fees and great rates to help you save.

The EQ Bank Savings Plus Account is more than just a savings account. It lets you pay bills, transfer your money and track your savings to reach your financial goals faster.

Great rates, all the time

With an EQ Bank Savings Plus Account, you earn high interest on your entire balance. There’s no introductory period, no limited time promotional rate and no minimum balance to maintain, so you can start earning great interest immediately on every dollar, every day.


Manage your money

Whether you're making a transfer, paying a bill or just checking your balance, managing your money is easy with the secure and user-friendly EQ Bank website or mobile app


The best of both worlds

Earn great interest without having to switch between a chequing and savings account. With no monthly fees, unlimited day-to-day transactions and 5 free Interac e-Transfers^® per month, the EQ Bank Savings Plus Account has everything you need to start saving, faster.



Is it safe to bank with EQ Bank?

At EQ Bank, we are committed to providing a safe mobile and online banking environment starting from the moment you sign up with us. Safeguarding your account is top of mind, which is why our security features are continuously monitored and improved. Read our EQB Mobile and Online Banking Security Guarantee to learn more.

EQ Bank is a trademark of Equitable Bank, a federally regulated Schedule I Bank with over 500 employees and total assets under management of approximately $17 billion.

For nearly 45 years, brokers across the country have been helping Canadians realize their financial goals through Equitable Bank products such as mortgages, home equity lines of credit and a variety of deposit services.

Equitable Bank was founded in 1970 as The Equitable Trust Company. It is a wholly-owned subsidiary of Equitable Group Inc., whose common and preferred shares are traded on the Toronto Stock Exchange under the symbols EQB and EQB.PR.C, respectively.


Is my account covered by the CDIC?

EQ Bank is a trademark of Equitable Bank.

Equitable Bank is a member of CDIC. All eligible deposits held under Equitable Bank are covered to the maximum coverage limits of $100,000. Click here for more info.

Tangerine is ONLY 0.8 % . Tangerine mostly gives promos to new customers or new deposits for a limited time, but existing customers just get the paltry 0.8 % :rant: .

EQ bank aka Equitable bank is much better. Good to see a better bank and better rates than Tangerine & PC Financial. I hope more people sign up for EQ bank to keep a healthy competition.

Tangerine has gone downhill after Scotia Bank took over, they are just a glorified Scotia Bank now. They don't care much about existing customer's and are not competitive any more with their Mortgage or Interest rates.

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Originally Posted by tjthemanto

Tangerine is ONLY 0.8 % . Tangerine mostly gives promos to new customers or new deposits for a limited time, but existing customers just get the paltry 0.8 % :rant: .

EQ bank aka Equitable bank is much better. Good to see a better bank and better rates than Tangerine & PC Financial. I hope more people sign up for EQ bank to keep a healthy competition.

Tangerine has gone downhill after Scotia Bank took over, they are just a glorified Scotia Bank now. They don't care much about existing customer's and are not competitive any more with their Mortgage or Interest rates.

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after contacting Tangerine and discussing with a supervisor, they gave us 2%
after contacting President's Choice Financial, who are giving new customers 1.75%, we got 1.75% at Scotia Bank

I think they have changed the rules to the savings account 'game'. So if you move your money out of Tangerine, by transfer, the computer tends to offer you a higher interest rate when they make their next bonus interest rate offer.

At the time they offered 3%, EQ was so hot that they have a waiting list for new customers and you had to "reserve a spot" to be invited lol.

EQ's current 2.25% is slightly less than Tangerine promo 6-month 2.4% rate, but if they can keep this rate long-term I would definitely transfer my saving from Tangerine to EQ after my Tangerine promotion period is over.

If you are unhappy with Tangerine rate, move your money to to EQ . Its a big bank which is CDIC insured and has been around for a while, so they are quite safe. They have the best rate at 2.25 %.

Keep both Tangerine & EQ if you want. Park the money in EQ and move it around whenever you need it.