better choices made
to Canada’s top financial institutions
The best overall GICs in Canada
About EQ Bank
EQ is one of Canada’s leading online-only banks and trusted with over $4 billion in deposits. Launched in 2016, EQ Bank is owned by Equitable Bank Group Inc., the country’s ninth-largest Schedule 1 Bank established over five decades ago with a combined $35 billion in assets under management.
EQ is a CDIC Member Institution, just like the big banks, and the deposits you hold at the digital bank are federally insured up to $100,000 per eligible account. As a digital bank, EQ doesn’t operate physical bank branches, and in turn, passes on the savings to its customers in the form of higher interest rates and no fees.
About EQ Bank GIC
EQ Bank offers some of the highest rates on GICs in Canada. The digital bank offers a range of short and long-term GICs from 3 months up to ten years. A low minimum deposit of $100 is required to open a GIC (considerably below the average $1,000 required by most other banks), up to a maximum of $100,000 per GIC. A mix of unregistered, TFSA, and RRSP GICs are available. All of EQ Bank’s GIC are non-redeemable, which means you can’t access your deposit until the term ends (if you choose to cancel your GIC deposit before the term ends, you’ll get your initial deposit back but won’t collect any interest.
EQ Bank other products
Aside from GICs, EQ Bank offers three savings accounts products: a high-interest account, a TFSA, and an RSP.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.
How does Ratehub.ca make money?
Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.read more about us