EQ Bank Personal Account

EQ Bank

Best for

A hybrid account that pays savings-level interest on your everyday balance.

Monthly fee

None

Transactions

Unlimited

e-Transfers

Free

Interest

2.5%

Rate varies with direct deposit status; confirm current terms with EQ Bank.

Rate verified August 3, 2026 · confirm with EQ Bank before applying.

Run the numbers

Compound interest calculator

Is a fee-waiver balance worth more than the fee it saves?

Take-home pay calculator

Know what's actually landing in the account.

Tip calculator

For the everyday spending that runs through it.

Frequently asked questions

Does the EQ Bank Personal Account have monthly fees?

No, it's a genuinely no-fee account. Transactions are unlimited. Interac e-Transfers are free.

Does the EQ Bank Personal Account earn interest?

Yes. It pays 2.5%, which is unusual for a chequing account. That makes it a hybrid: everyday access with some of the return you'd normally only get from savings.

How current is this rate?

We last verified it on August 3, 2026. Rates on deposit accounts move frequently, so confirm the current figure with EQ Bank before you apply.

Other chequing accounts

Simplii No Fee Chequing Account

Simplii Financial

Tangerine No-Fee Daily Chequing Account

Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice. Information may be simplified, incomplete, or out of date. Consult a licensed professional before making financial decisions. VaultNerd may receive compensation from partners featured on this site. This does not influence our editorial content.

Written by

VaultNerd Editorial Team

Researching and writing about Canadian personal finance since 2026.

Last reviewed August 2026 · How we research

Cite this page

“EQ Bank Personal Account.” VaultNerd, https://www.vaultnerd.com/ca/chequing-accounts/eq-bank-personal-account, updated August 2026.

Sources

EQ Bank published product and rate pages
VaultNerd products database