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EQ Bank
Personal Account with direct deposit
On $10,000, you'd earn about
$278
over a year, before tax
How it works
- Rate
- 2.75%
- Needs
- Direct deposits of at least $2,000 each month
- Who can get it
- Everyone
- Without the condition
- 1.5%
- Account types
- Non-registered
- Insured by
- CDIC, up to $100,000 per insured category
Conditions
- Must maintain recurring direct deposits totalling at least $2,000 every month.
The catch: Requires recurring direct deposits of at least $2,000 every month to maintain the rate.
From the bank's page4 quotes
- Rate“Customers who add and maintain qualifying recurring direct deposits of at least $2000/month to a Personal Account or Joint Account are eligible to earn a bonus interest rate of 2.75% (the Base Rate plus an additional 1.25%) for the eligible accounts (the Personal Account, Joint Account, and the EQ Bank Card balance).”
- Who can get it“Yes! 2.75%* interest is available to all new and existing eligible customers, assuming you meet the qualification threshold each month.”
- Condition“You will continue to earn 2.75%* interest as long as your direct deposits total at least $2,000 each month.”
- Rate after the promo“For the Personal Account, Joint Account and EQ Bank Card, the current base interest rate is 1.50% (the “Base Rate”).”
Source: www.eqbank.ca
Compounded monthly, before tax. The bank calculates daily, so yours will differ slightly. Last checked Oct 9, 2026.