Pros & Cons
Pros
- +No monthly fee
- +Competitive interest rate (4%)
Cons
- –Limited transactions
Current Promotion
The EQ Bank GIC Savings Account lets you invest in fixed-rate Guaranteed Investment Certificates (GICs), a safe way to grow your savings while staying sheltered from market fluctuations.
GICs are available for terms ranging from 3 months to 10 years, with a minimum deposit of just $100, and can be held in a non-registered or registered account (TFSA, RRSP, FHSA). They are non-redeemable before maturity and are CDIC insured up to the applicable limits.
It is a good fit if you are looking for a guaranteed, predictable return over a set horizon. As of August 20, 2026, rates range from 2.35% to 4.00%, with the highest rate on the 5-year term, and they are identical for registered and non-registered GICs.
Account Features
- E-StatementNot included
- Unlimited TransactionsNot included
- Unlimited Interac e-TransfersNot included
Special Offer
Terms and conditions
- Rates That Boost Your Savings
Benefit from some of the industry’s highest rates with our GICs
- Registered or unregistered, the choice is yours
Looking to invest in an unregistered GIC or a tax-advantaged registered GIC? We have you covered in both cases. To purchase a registered GIC, you must first open a TFSA or RRSP savings account.
- Tons of duration options
You’re the one in control of your savings, so you need to decide whether a short- or long-term GIC is right for you (or perhaps both).
- Safe investments
All deposits in EQ Bank products are eligible for protection by the Canada Deposit Insurance Corporation (CDIC).
- Reduced minimum deposit
Restrictions aren’t our thing, which is why $100 is all you need to start investing in a GIC.
- A GIC in seconds
If your Current Account is funded, you can buy a GIC literally in seconds.
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*Conditions apply.
Conditions apply. All information is believed accurate but not guaranteed. Account details, rates, and offers are subject to change at any time. Always verify the latest terms on the institution's website. RedFlagDeals may receive compensation through affiliate links. This does not affect our editorial choices or rankings. © 2026 EQ Bank. All trademarks are property of their respective owners.