{"id":197768,"date":"2025-07-31T10:40:00","date_gmt":"2025-07-31T14:40:00","guid":{"rendered":"https:\/\/milesopedia.com\/news\/eqbank-financial-products\/"},"modified":"2025-08-22T11:14:37","modified_gmt":"2025-08-22T15:14:37","slug":"eq-bank-financial-products","status":"publish","type":"post","link":"https:\/\/milesopedia.com\/en\/reviews\/products\/eq-bank-financial-products\/","title":{"rendered":"EQ Bank: Our Review of Their Financial Products"},"content":{"rendered":"

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EQ Bank is part of Equitable Bank, an independent financial institution with over 50 years’ experience. It has no physical headquarters, and all its financial activities are carried out online. By saving on branch-related expenses, EQ Bank is able to offer a variety of financial products with excellent interest rates to its customers. In this article, we\u2019ll explore the main financial products offered by EQ Bank, including its Personal Account, savings accounts (TFSA, RRSP, GIC), and its Mastercard. <\/p>\n

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For a limited time, EQ Bank is offering existing and new customers a bonus for FHSA<\/a>, TFSA<\/a> and RRSP<\/a> accounts. From November 1, 2024 to February 28, 2025, customers who make new deposits to their registered accounts, and who hold these new deposits in their accounts for one year, will receive a 2%<\/span> matching contribution<\/a>. There is no minimum transfer or deposit amount to qualify for this offer<\/a>. <\/p>\n

Deposits eligible for this offer are new deposits or transfers made to FHSA, TFSA<\/a> and RRSP<\/a> accounts between November 1, 2024 and February 28, 2025. However, new deposits held in GICs are not eligible. <\/p>\n

The 2%<\/span> matching contribution<\/a> will be paid quarterly at a rate of 0.5%<\/span> per quarter.<\/p>\n

To qualify for the four quarterly payments, new deposits must be held for one year after the offer end date. The 2%<\/span> matching contribution will be calculated based on your registered account balance (FHSA, TFSA<\/a> and RRSP<\/a>) as at May 31, 2025, August 31, 2025, November 30, 2025 and February 28, 2026 and will be paid directly into the registered account. <\/p>\n

If new deposits are partially or fully withdrawn during the 12-month payment period, the matching contribution<\/a> will be calculated and paid on the remaining amount only.<\/p>\n

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EQ Bank offers a wide range of financial products: chequing accounts (personal account), joint accounts, savings accounts, Mastercard, etc. In addition, all of its deposit products are eligible for CDIC deposit insurance.<\/p>\n

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The EQ Bank<\/a> Personal Account (formerly called Savings Plus Account) is a no-fee account<\/strong> that offers a generous interest rate of up to 2.75%*<\/span> to all customers on everyday banking services<\/strong>:<\/p>\n