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 the list of current EQ Bank promotions on offer, and compare with some other Canadian bank offerings, below.All EQ Bank promotions on offer now
★★★★★
Earn 3.75% interest on your money for 12 months, and 2.00% thereafter.
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Monthly fee $0 Interest rate 3.75% Transactions unlimited Interac e-transfers $0 Non-network ATM in Canada N/A Highlights Unlimited transactions
1% match on new deposits (for a limited time)
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Interest rate 2.5% Minimum balance $0 Monthly fee $0 Transactions N/A
1% match on new deposits (for a limited time)
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Interest rate 2.5% Minimum balance $0 Monthly fee $0 Transactions unlimited
1% match on new deposits (for a limited time)
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Interest rate 2.75% Minimum balance N/A Monthly fee N/A Transactions N/A
Earn 3.75% interest on your money.
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Interest rate 2% Minimum balance $0 Monthly fee $0 Transactions $0
What is the EQ Bank promotion on its chequing account?Get 2.00% interest on everyday banking, plus get 1.75% interest when you direct deposit your pay. To receive the 3.75% rate for 12 months, you’ll need to set up $500/month or more in direct deposit of your pay to a Personal Account or Joint Account. Conditions apply. Thereafter, you’ll earn 2.00% on your balance.How does the EQ Bank 1 Percent Match promotion work?The EQ Bank 1 Percent 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 1% in interest bonus payments.The match bonus will be paid out in four 0.25% bonus payments over a full year. That means, that in order to qualify for the full 1% match bonus, you’ll need to keep your money in the EQ Bank registered account for a full year.The match bonus will be calculated based on your account balance on these dates:May 31, 2025August 31, 2025November 30, 2025February 28, 2026How to qualify for the EQ Bank promo interest rate?To earn the 1 Percent 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 to 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 any registered GICs.Does EQ Bank have a referral bonus?Yes, if you sign up for a new EQ Bank account from a referral sent by an existing EQ Bank customer, you both earn a $20 referral bonus. But in order 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 the account.Once you’ve made that initial deposit, both you and the friend who referred you, will receive the $20 bonus as deposits in 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 switching to EQ Bank for a promotional offer worth it?Yes, it can definitely be worth switching to EQ Bank because of one of its promotional offers. EQ Bank consistently offers some of the highest interest rates — on both its chequing and savings accounts — compared to any bank in Canada.EQ Bank is also a very reputable bank. It is Canada’s seventh largest bank by assets and 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 above four stars out of 5 on both the Apple App and Google Play stores.EQ Bank promotions vs other Canadian bank offers on nowAlthough 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
★★★★★
Get up to a $600 cash bonus. Earn $400 when you open a new BMO Performance Chequing Account and $150 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 March 3, 2025. Plus, earn a 4.75% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
Account details
Monthly fee $17.95 Waiver The monthly account fee is waived if you maintain a minimum monthly 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 a $600 cash bonus. Earn $400 when you open a new BMO Premium Plan Chequing Account and $150 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 March 3, 2025. Plus, earn a 4.75% bonus interest rate when you add a Savings Amplifier Account.
Account details
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
BMO New to Canada Performance Chequing Account
★★★★★
Earn up to a $600 welcome bonus. Valid until March 3, 2025. Plus, enjoy no monthly plan fee banking for one year, and get a $100 Walmart Canada eGift card with the BMO NewStart Program.
Account details
Monthly fee $16.95 Waiver No fee for first year. Monthly account fee waived with min. $4,000 balance. Interest rate 0% Transactions unlimited Interac e-transfers $0 Non-network ATM in Canada N/A
RBC Signature No Limit Banking Account
★★★★★
Get $450 when you open an RBC Signature No Limit Banking Account. Apply by February 10, 2025.
Account details
Monthly fee $16.95 Waiver Through RBC’s Multi Rebate program, 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)
★★★★★
Get $450 when you open an RBC VIP Banking Account. Apply by February 10, 2024.
Account details
Monthly fee $30 Waiver Through RBC’s Multi Product Rebate program, 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
Scotiabank Preferred Package
★★★★★
Earn up to $800 with a Scotiabank Preferred package and an investment plan. Valid until March 1, 2025. Plus, earn up to 5.45% interest for 3 months on your MomentumPLUS Savings Account.
Account details
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 transactionsFee waived on one non-Scotiabank ABM withdrawal per month in CanadaFirst year annual fee waiver (up to $139) on select credit cardsGet $1.99 international money transfers with Scotia International Money TransferGet up to a $139 annual fee waiver each year on select credit cardsPreferred rates on select GICsChoice of SCENE or Scotia Rewards points programs
Coast Capital Free Chequing, Free Debit, and More Account
★★★★★
Get $150 when you open an use a Free Chequing, Free Debit and More Account. Conditions apply. Apply by November 28, 2024.
Account details
Monthly fee $0 Interest rate 0% Transactions unlimited Interac e-transfers $1.50 Non-network ATM in Canada $10
National Bank The Total Chequing Account
Get $150 towards an eligible National Bank credit card you activate after opening a National Bank The Total Chequing Account.
Account details
Monthly fee $28.95 Waiver The monthly fee on this account is waived if you maintain a balance of $6,000 or higher. Transactions unlimited Interac e-transfers $0 Non-network ATM in Canada $0
National Bank Connected Account
Get $30 towards an eligible National Bank credit card you activate after opening a National Bank Connected Account.
Account details
Monthly fee $15.95 Waiver if you’re aged 24–59 and your balance is less than $4,500, a $15.95 monthly fee applies Interest rate 0% Transactions unlimited Interac e-transfers $0 Non-network ATM in Canada $2
BMO Performance Student Chequing Account
★★★★★
Earn a $100 cash bonus and enjoy six months of Domino’s Pizza (worth $95, one pizza per month) when you open a new BMO Student Chequing Account. Valid until February 28, 2025.
Account details
Monthly fee $0 Waiver No monthly Plan fees while you’re in school and for up to one year after you graduate. Interest rate 0% Transactions unlimited Interac e-transfers $0 Non-network ATM in Canada $2
Earn up to 5.00% interest with a high interest savings account. Pick a KOHO plan and opt-in to Earn Interest.
Account details
Interest rate 0.5% – 3.5% Minimum balance $0 Monthly fee $0 Transactions $0 Highlights up to 2% cash back on groceries, transportation, food and drinks
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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
