EQ Bank GIC rates compared
EQ Bank's best posted rate is 3.90% on a 4-year term. The best rate available in Canada for that term is 4.10%, from WealthONE Bank of Canada. Both are covered by deposit insurance.
Get EQ Bank GICsHow do EQ Bank's GIC rates compare to the best in Canada?
On a 5-year term EQ Bank posts 4.00% against 4.30% from WealthONE Bank of Canada, the best we track. Every term it publishes is compared the same way below.
| Term | EQ Bank | Best in Canada | Gap | Leader |
|---|---|---|---|---|
| 1-year | 3.40% | 3.70% | −0.30 pts | WealthONE Bank of Canada |
| 2-year | 3.65% | 3.95% | −0.30 pts | WealthONE Bank of Canada |
| 3-year | 3.80% | 4.05% | −0.25 pts | WealthONE Bank of Canada |
| 4-year | 3.90% | 4.10% | −0.20 pts | WealthONE Bank of Canada |
| 5-year | 4.00% | 4.30% | −0.30 pts | WealthONE Bank of Canada |
Is EQ Bank's GIC covered by CDIC?
Yes. EQ Bank is a branchless CDIC member bank, so an eligible GIC held here is protected to $100,000 per depositor, per insured category. The deposit itself is held by Equitable Bank, which means it shares that limit with anything else you hold there.
Federal. $100,000 per depositor, per member institution, per insured category.
Where do these EQ Bank rates come from?
Directly from EQ Bank's own posted rate page at eqbank.ca, read by hand on 2026-09-04. The page dates the rates themselves 2026-06-11.
All 13 terms EQ Bank posts were captured in that read. No aggregator, no feed, no affiliate link.
EQ Bank's posted rates on eqbank.caHow we collect and check ratesWho should buy a GIC from EQ Bank?
People who already bank at EQ Bank, mostly. It does not lead any term we track, so what is left is the convenience of not moving money, priced below.
Common questions about EQ Bank GICs
What is EQ Bank's minimum GIC deposit?
EQ Bank does not publish a minimum on its own rates page. Of the 15 institutions we track, 10 publish one, and those run $100 to $1,000 — so the figure to confirm before you deposit is the one EQ Bank quotes you.
Does EQ Bank have the best GIC rate in Canada?
Not on a 5-year term. EQ Bank posts 4.00% there, against 4.30% from WealthONE Bank of Canada: a gap of 0.30 points on the same term, for the same non-redeemable product. The table above runs the same comparison across all 5 terms.
Which GIC terms does EQ Bank offer?
13 terms are posted on eqbank.ca, from 3 month to 10 year. The comparison table above covers the 5 annual terms where enough issuers publish a rate for a market comparison to mean anything.
Does EQ Bank pay GIC interest monthly?
EQ Bank does not post a separate interest-paid-monthly rate on eqbank.ca, so we do not publish one. Where an issuer posts one it is always lower than the compounding rate, which makes it worth asking before you choose monthly income.
Are these EQ Bank rates promotional?
No. These are EQ Bank's standard posted rates, which its own page dates 2026-06-11; we read them on 2026-09-04. Limited-time promotions are noted separately rather than used to move an institution up the ranking, because a promotional rate that expires before your term does is not a rate you can rely on.
How we collect and check ratesWhat would EQ Bank's 4-year rate pay on your deposit?
On $50,000 it pays $8,268 in interest over the full term. Change the amount to see what that becomes on yours, then compare it against the leader.
Get next month's rates by email
One email a month with the best verified rate for every term, read off 15 issuers' own pages the same way every rate on this site is.
Independent and unaffiliated. Rates are read from EQ Bank's own posted page at eqbank.ca and may change without notice. Educational information only, not financial advice. Published by Croton Holdings LLC. Corrections to daniel@crotoncontent.com.