EQ Bank promotions and offers

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

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Chelsey Hurst

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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 with qualifying direct deposits of $2,000/month, and 1.00% otherwise.

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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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What is the EQ Bank promotion for its chequing account?

Earn 2.75% interest. To receive 2.75% interest, you'll need to have at least $2,000/month of your pay directly deposited into a Personal Account or Joint Account. Conditions apply. Otherwise, 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

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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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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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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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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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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Coast Capital Free Chequing, Free Debit, and More Account

New members can get up to $550 when you open a Coast Capital Free Chequing, Free Debit, and More Account, an eligible credit card and a HISA Account. T&Cs apply. Offer ends March 31, 2026.

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Coast Capital Elevate Chequing Account

Limited time offer: Get up to $850 when you bundle and use everyday banking by March 31, 2026.

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Coast Capital Unlimited Chequing Account

New members can get up to $850 when you open a Coast Capital Unlimited Chequing Account, an eligible credit card and a HISA Account. T&Cs apply. Offer ends March 31, 2026.

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BMO Performance Chequing Account

Get up to $700

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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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RBC Signature No Limit Banking Account

Get an Apple Watch Series 11 GPS when you open your first RBC Signature No Limit Banking Account, plus get Apple Music and Apple Fitness+ at no cost for 3 months with your new Apple Watch. Apply by June 1, 2026.

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RBC VIP Banking Account

Get a new Apple Watch. Plus, get Apple Music and Apple Fitness+ at no cost for 3 months with your new Apple Watch. T&Cs apply. Valid until June 1, 2026.

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.

Innovation Federal Credit Union No-Fee Chequing Account

Apply to win a $2,500 winter getaway. Open a No-Fee Bank Account and you'll be entered to win. Valid until March 31, 2026.

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.

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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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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FAQs about EQ Bank new account offers

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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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