What is the EQ Bank promotional interest rate?

EQ Bank is offering a promotional interest rate on select registered accounts. You can also get a EQ Bank interest rate offer of 2.75% for 12 months when you sign up for the Personal Account (which is like a chequing account) and set up certain auto deposits.

EQ Bank Promotions and Offers for 2025

Q: Does EQ Bank have a welcome offer?

Yes, EQ Bank has a welcome offer that lets you earn a higher interest rate on its Personal Account when you sign up. Earn 2.75% interest for 12 months 2.75% interest for 12 months . To receive 2.75% for 12 months after opening the EQ Bank Personal Account, you'll need to have at least $2,000/month of your pay directly deposited into a Personal Account or Joint Account. Conditions apply. Thereafter, you'll earn 1.00% on your balance." title="" data-original-title="More info" when you complete select account actions.

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 2.75% interest on your money for 12 months and 1.00% thereafter.

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Monthly fee	$0
Interest rate	2.75%
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	N/A
Highlights	Unlimited transactions

EQ Bank Joint Account

Earn 2.75% for 12 months when you set up $2000/month or more in either direct deposit for your pay or recurring pre-authorized debits.

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Interest rate	1%
Minimum balance	$0
Monthly fee	$0
Transactions	$0

What is the EQ Bank promotion for its chequing account?

Earn up to 2.75% interest for 12 months. To receive 2.75% for 12 months after opening the EQ Bank Personal Account, you'll need to have at least $2,000/month of your pay directly deposited into a Personal Account or Joint Account. Conditions apply. Thereafter, you'll earn 1.00% on your balance.

How does the EQ Bank 2% match promotion work?

The EQ Bank 2% match offer is no longer available. It was offered to customers who made new deposits between November 1, 2024, and February 28, 2025. The promotion offered up to 2.75% interest on a registered EQ Bank account—a TFSA, FHSA or RSP—and then an additional 2% in interest bonus payments.

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:

BMO Performance Chequing Account

Earn up to a $700 bonus
Exclusive: Get an extra $150 reward from Finder
Enjoy up to 4.60% promo interest

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Scotiabank Preferred Package

Earn up to $700 when you bundle a Preferred Package, savings account, and registered account. Valid until March 2, 2026. Plus, earn up to 4.70% interest for 3 months on your MomentumPLUS Savings Account.

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Monthly fee	$16.95
Waiver	The monthly account fee will be waived if you have at least $4,000 in your account at all times.
Interest rate	0%
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$2
Highlights	Unlimited debit transactions & Interac e-Transfer transactions One free non-Scotiabank ABM withdrawal per month in Canada First year annual fee waiver (up to $139) on select credit cards Pay just $1.99 for each Scotia International Money Transfer Preferred rates on select GICs Earn Scene+ points and redeem for various rewards

Scotiabank Ultimate Package

Earn up to $700 when you bundle an Ultimate Package, savings account, and registered account. Valid until March 2, 2026. Plus, earn up to 4.75% interest for 3 months on your MomentumPLUS Savings Account.

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Monthly fee	$30.95
Waiver	Monthly account fee waived if you have at least $6,000 in your account at all times or a combined balance of $30,000 across your Ultimate Package and a MomentumPLUS Savings Account.
Interest rate	0%
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$0
Highlights	Unlimited debit transactions & Interac e-Transfer transactions Unlimited free Global non-Scotiabank ABM withdrawals (terms apply) Up to $139 annual fee waiver each year on select credit cards No monthly Overdraft Protection fee Special rates on select GICs Earn Scene+ points and redeem for rewards 10 free equity trades at Scotia iTRADE in your first year (approximately $100 value), and 5 free equity trades every year after Free personalized cheques and drafts $60 annual fee waiver (equivalent to a small safety deposit box)

Scotiabank MomentumPLUS Savings Account

Earn a savings rate of up to 4.75% for 3 months when you open a Scotiabank MomentumPLUS Savings Account and a Scotiabank Ultimate Chequing Account.

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Interest rate	0.4%
Minimum balance	$0
Monthly fee	$0
Transactions	varies
Highlights	Sign up for the Scotiabank MomentumPLUS Savings Account and you may be eligible to earn three different types of interest totaling . The first is a base rate of 0.40% that you'll earn on your entire balance, plus a package interest rate boost of 0.10% for Ultimate Package holders and a 0.05% rate for Preferred Package holders. The second is a premium interest rate of 0.45%, which is earned when you choose 360-day premium period (or earn lower rates with 90, 180 and 270 periods). A longer premium period earns a higher premium period interest rate, provided you don't make any withdrawals within the selected period. Premium period interest is calculated daily and paid at the end of the applicable premium period. The third is a welcome bonus interest rate of 4.05% for 3 months, calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account.

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 January 31, 2026.

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Monthly fee	$0
Interest rate	0.01%
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$1.50
Highlights	Zero monthly fees. Earn interest. Welcome bonus. Free transactions. No minimum balance.

Simplii High Interest Savings Account

Earn 4.50% interest for 5 months on up to $200,000 in savings. Terms Apply. Offer ends January 31, 2026.

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Interest rate	0.3%
Minimum balance	$0
Monthly fee	$0
Transactions	$0
Highlights	Earn $125 when you refer a friend to Simplii and they set up an account (they'll earn $50, provided you both meet certain eligibility criteria).

Coast Capital Free Chequing, Free Debit, and More Account

New members can get up to $350 when they open and use a Coast Capital Free Chequing, Free Debit, and More Account and eligible Coast Capital credit card. Conditions apply. Offer ends January 5, 2026.

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Monthly fee	$0
Interest rate	0%
Transactions	unlimited
Interac e-transfers	$1.50
Non-network ATM in Canada	$2.50

Coast Capital Elevate Chequing Account

New members can get up to $600 when they open and use a Coast Capital Elevate Chequing Account and eligible Coast Capital credit card. Conditions apply. Offer ends January 5, 2026.

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Monthly fee	$16.95
Waiver	You'll pay a reduced monthly fee of $8.50 if you maintain a minimum balance of $4,000 at all times, or if you’re either 25 or younger or 59 or older.
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$2.50

Coast Capital Unlimited Chequing Account

New members can get up to $450 when they open and use a Coast Capital Unlimited Chequing Account and eligible Coast Capital credit card. Conditions apply. Offer ends January 5, 2026.

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Monthly fee	$8.50
Waiver	You'll pay no monthly fee if you maintain a minimum balance of $4,000 at all times, or if you're either 25 or younger or 59 or older.
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$2.50

BMO Performance Chequing Account

Get up to $700*.

Earn $500 when you open a new BMO Performance Chequing Account, make a deposit of any amount by March 2, 2026 and complete two qualifying tasks by April 30, 2026.

Plus, get a Walmart Delivery Pass subscription for up to 12 months* when you open a new Savings Amplifier Account by March 2, 2026, and sign up for or update your existing Walmart Delivery Pass by April 30, 2026 by selecting Debit Mastercard as the payment option for the monthly transaction fee.

Earn $150* when you deposit a total of $10,000 or more in to your Savings Amplifier Account and maintain a daily closing balance of $10,000 or more at all times for the specified period.

Earn $50* when you create one goal and apply one strategy in My Financial Progress Plan by April 30, 2026.

*Terms apply.

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Monthly fee	$17.95
Waiver	The monthly account fee is waived if you maintain a minimum daily balance of at least $4,000.
Interest rate	0%
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$2
Highlights	monthly fee is waived for members of the Canadian Defence Community

BMO Premium Plan Chequing Account

Get up to $700 in bonuses. Get a $700 welcome bonus, plus a Walmart Delivery Pass subscription for up to 12 months when you open a Premium Plan Chequing Account and Savings Amplifier Account.* Valid until March 2, 2026. Plus, earn a 4.60% promo rate with a new Savings Amplifier Account. *Terms apply.

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Monthly fee	$30.95
Waiver	Monthly account fee waived if you keep a balance of at least $6,000 in your account each month.
Interest rate	0%
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$0
Highlights	free overdraft protection

RBC Signature No Limit Banking Account

Get $400 when you open your first RBC Signature No Limit Banking Account and complete two of the qualifying criteria tasks. Apply by January 13, 2026.

Monthly fee	$16.95
Waiver	Through RBC's Value Program Rebate, pair this account with other eligible RBC accounts and save up to $11.95 per month. Only pay $10.95/month for this account with 2 other eligible RBC products.
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$2
Highlights	5 free cross-border debits per month ($1.00 each afterwards)

RBC VIP Banking Account

Get $400 when you open your first RBC VIP Banking Account and complete two of the qualifying criteria tasks. Apply by January 13, 2026.

Monthly fee	$30
Waiver	Through RBC’s Value Program Rebate, pair this account with 2 other eligible RBC accounts and get cashback for some or all of your monthly fees—for example, only pay $19.95/month for this account.
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$0
Highlights	free cross-border debit transactions, free RBC VIP Style personalized cheques and up to 2 additional Canadian dollar accounts and 1 U.S. dollar account

CIBC Smart Account

Get a $500 cash bonus when you open a CIBC Smart Account as your first chequing account and complete the qualifying actions within 2 months.

Monthly fee	$16.95
Waiver	The monthly fee is waived if you have a minimum of $4,000 in your CIBC chequing account. You also won't have to pay a monthly fee if you opt for Tier 2 where, if you hold $40,000 to $99,999 in combined average monthly CIBC eligible balances, you'll be eligible for rebates on select ATM fees. If you opt for Tier 3 by holding $100,000 or more in combined eligible CIBC balances, you will also get credit card fee rebates and free overdraft protection.
Transactions	unlimited
Interac e-transfers	Free
Non-network ATM in Canada	$2
Highlights	Unlimited transactions cost $16.95 or $0, depending on the Tier option you opt for.

Innovation Federal Credit Union No-Fee Chequing Account

Apply to win a $500. Open a No-Fee Bank Account and you'll be entered to win one of two draws for $500. T&Cs apply. Valid until December 31, 2025.

Monthly fee	$0
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	N/A
Highlights	Unlimited transactions

TD Unlimited Chequing Account

Get up to $750 when you open a TD Unlimited Chequing Account. Terms and conditions apply. Offer ends March 3, 2026.

Monthly fee	$17.95
Waiver	maintain a $4,000 minimum balance to receive a monthly fee rebate.
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$0
Highlights	Earn up to $750 when you open a new chequing account and set up direct deposit.

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. Valid until January 31, 2026.

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Monthly fee	$0
Interest rate	0.01%
Transactions	unlimited
Interac e-transfers	$0
Non-network ATM in Canada	$1.50

Tangerine Savings Account

Open a Tangerine Savings Account to earn 4.50% for the first 5 months (on up to $1,000,000 in deposits) when you sign up by March 16, 2026. Thereafter, you'll earn 0.30%.

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Chelsey Hurst

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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

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EQ Bank promotions and offers