EQ Bank promotions and offers

Check out the latest EQ Bank promotions and new account offers currently available.

Chelsey Hurst's headshot

By

Chelsey Hurst

Updated

Fact checked
EQ Bank

We’ve rounded up the latest and best EQ Bank promotions here, so you can easily compare new account offers and get the best deal for you. In the past, we’ve seen EQ Bank offer promotional interest rates—some of the most competitive on the Canadian market—for its personal bank accounts and registered savings accounts.

Check out a list of current EQ Bank promotions on offer and compare it with other Canadian bank offerings below.

All EQ Bank promotions on offer now

EQ Bank Personal Account

Earn 4.00% interest on your money for 12 months and 1.25% thereafter.

Go to site

EQ Bank Joint Account

Earn 4.00% interest on your money.

Go to site

What is the EQ Bank promotion for its chequing account?

Earn up to 4.00% interest for 12 months. To receive 4.00% for 12 months, you'll need to have at least $2000/month of your pay directly deposited into a Personal Account or Joint Account. Conditions apply. Thereafter, you'll earn 1.25% on your balance.

How does the EQ Bank 2% match promotion work?

The EQ Bank 2% match offer allows you to earn up to 2.75% interest on a registered EQ Bank account—a TFSA, FHSA or RSP—and then earn an additional 2% in interest bonus payments.

The match bonus will be paid out in four 0.5% bonus payments over a full year. That means that, to qualify for the full 2% match bonus, you’ll need to keep your money in an EQ Bank registered account for a full year.

The match bonus will be calculated based on your account balance on these dates:

  • May 31, 2025
  • August 31, 2025
  • November 30, 2025
  • February 28, 2026

How to qualify for the EQ Bank promo interest rate

To earn the 2% Season Match EQ Bank promotional interest rate, you’ll need to deposit or transfer funds into your TFSA, FHSA or RSP during the promotional period between November 1, 2024 and February 28, 2025.

The match bonus is available to all new and existing account holders. However, for Québec residents, the promotional offer is only available for customers who open a new TFSA account with EQ Bank.

This particular EQ Bank promotion only applies to EQ Bank’s registered accounts but does not include registered GICs.

Does EQ Bank have a referral bonus?

Yes, if you sign up for a new EQ Bank account via a referral from an existing customer, you both earn a $20 referral bonus. But, to qualify for the EQ Bank referral bonus, you’ll have to deposit at least $100 into your new account within 30 days of opening it.

Once you’ve made that initial deposit, both you and the friend who referred you will receive $20 bonuses deposited into your EQ Bank accounts within five business days.

Keep in mind that you can only receive up to $500 in referral bonuses from EQ Bank, which means that, at a rate of $20 each, you’ll be rewarded for successfully referring up to 25 friends.

Is it worthwhile to switch to EQ Bank for a promotional offer?

Yes, it can definitely be worth switching to EQ Bank because of a promotional offer. Compared to any bank in Canada, EQ Bank consistently offers some of the highest interest rates—on both its chequing and savings accounts.

EQ Bank is also a very reputable bank. It’s Canada’s seventh largest bank by assets, and it services more than 488,000 customers. EQ Bank is a wholly owned subsidiary of EQB Inc., which trades on the Toronto Stock Exchange. The EQ Bank app has high user ratings of more than four out of five stars on both the Apple App Store and Google Play Store.

EQ Bank promotions vs. other Canadian bank offers on now

Although EQ Bank offers some of the best promotions in Canada, other banks and credit unions are offering competitive promotions now too. Compare these other bank promos with EQ Bank new account offers to see which is right for you:

Scotiabank Preferred Package

Earn up to $500 with a Scotiabank Preferred package and a registered account. Valid until April 30, 2025. Plus, earn up to 4.95% interest for 3 months on your MomentumPLUS Savings Account.

Go to site

Scotiabank Ultimate Package

Earn up to $500 with a Scotiabank Ultimate package and registered account. Valid until April 30, 2025. Plus, earn up to 5.00% interest for 3 months on your MomentumPLUS Savings Account.

Go to site

Scotiabank MomentumPLUS Savings Account

Earn 5.00% for 3 months on your first account opened.

Go to site

Simplii No Fee Chequing Account

Earn $300 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends April 30, 2025.

Go to site

Simplii High Interest Savings Account

Earn 3.90% interest for 5 months on up to $1,000,000 in savings. Apply by March 31, 2025.

Go to site

Coast Capital Free Chequing, Free Debit, and More Account

New members can get $150 when they open and use a Free Chequing, Free Debit and More Account. Conditions apply. Valid until March 31, 2025.

Go to site

Coast Capital Elevate Chequing Account

New members can get $400 when they open and use an Elevate Chequing Account. Conditions apply. Valid until March 31, 2025.

Go to site

Coast Capital Unlimited Chequing Account

New members can get $250 when they open and use an Unlimited Chequing Account. Conditions apply. Valid until March 31, 2025.

Go to site

BMO Performance Chequing Account

Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Performance Chequing Account, $200 (plus a 4.80% promo interest rate) when you open a Savings Amplifier Account and $50 when you make it a BMO Family Bundle. Valid until July 2, 2025.

Go to site

BMO Premium Plan Chequing Account

Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Premium Plan Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until July 2, 2025. Also earn a 4.80% bonus interest rate when you add a Savings Amplifier Account.

Go to site

RBC Signature No Limit Banking Account

Get an Apple Watch when you open your first RBC Signature No Limit Banking Account and complete two of the qualifying criteria tasks. Apply by June 2, 2025.

RBC VIP Banking Account

Get an Apple Watch when you open your first RBC VIP Banking Account and complete two of the qualifying criteria tasks. Apply by June 2, 2025.

CIBC Smart Account

Get a $450 cash offer when you open a CIBC Smart Account as your first chequing account and complete the qualifying actions within 2 months.

TD Unlimited Chequing Account

Earn a welcome bonus worth $600. Terms and conditions apply. Offer ends May 28, 2025.

Tangerine No-Fee Daily Chequing Account

Earn up to $250. Open a No-Fee Daily Chequing Account and switch your payroll deposits to your new Tangerine Chequing Account for 2 consecutive months to receive $250.

Tangerine Savings Account

Earn 5.40% interest for 5 months (on the first $1,000,000 in deposits) when you sign up by March 31, 2025.

FAQs about EQ Bank new account offers

More banking guides from our experts

Chelsey Hurst's headshot
Written by

Publisher

Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature. See full bio

More resources on Finder

More guides on Finder

Go to site