MoneyMint · Banking · GIC rates · EQ Bank
EQ Bank GIC Rates Today
MoneyMint editorial team · Rates checked 19 October 2026 on EQ Bank’s own rate page · Re-checked weekly
Short answer: EQ Bank’s highest GIC rate is 4.30% on a 5-year term, and a 1-year GIC pays 3.70%. The minimum is $100 per GIC, and TFSA, RRSP and FHSA GICs pay the same rates as non-registered ones. Those rates were second only to Oaken Financial in our weekly table at every term from one to five years. Skip EQ’s 6-, 7- and 10-year terms: they pay 2.35%, far less than its 5-year rate.
EQ Bank GIC Rates by Term
EQ Bank’s posted rates on 19 October 2026. A star marks the highest rate. EQ’s calculator offers two ways to receive interest: paid at maturity with annual compounding, or paid out every year as simple interest.
| Term | Non-registered | TFSA / RRSP / FHSA |
|---|---|---|
|
3 months
|
2.55% | 2.55% |
|
6 months
|
2.80% | 2.80% |
|
9 months
|
3.25% | 3.25% |
|
1 year
|
3.70% | 3.70% |
|
15 months
|
3.80% | 3.80% |
|
2 years
|
4.00% | 4.00% |
|
27 months
|
4.10% | 4.10% |
|
3 years
|
4.15% | 4.15% |
|
4 years
|
4.20% | 4.20% |
|
5 years
|
4.30% | 4.30% |
|
6 years
|
2.35% | 2.35% |
|
7 years
|
2.35% | 2.35% |
|
10 years
|
2.35% | 2.35% |
Source: EQ Bank GICs, checked 19 October 2026. Registered rates apply to GICs held in an EQ Bank TFSA, RRSP or FHSA. RRSP GICs are not available in Quebec.
How EQ Bank Compares
EQ Bank’s rates against the other 10 institutions in our weekly GIC table (non-redeemable, non-registered, checked 19 October 2026). The Big Five figures are posted rates; those banks sometimes run higher limited-time specials.
| Term | EQ Bank | Highest elsewhere | Big Five posted | Rank of 11 |
|---|---|---|---|---|
|
1 year
|
3.70% | Oaken Financial 3.75% | 2.45% to 3.00% | 2 |
|
2 years
|
4.00% | Oaken Financial 4.20% | 2.50% to 3.20% | 2 |
|
3 years
|
4.15% | Oaken Financial 4.30% | 2.55% to 3.30% | 2 |
|
4 years
|
4.20% | Oaken Financial 4.35% | 2.70% to 3.35% | 2 |
|
5 years
|
4.30% | Oaken Financial 4.50% | 2.75% to 3.55% | 2 |
What that means in dollars: $10,000 in a 5-year EQ Bank GIC at 4.30%, compounded annually, grows to about $12,343. At the lowest Big Five posted 5-year rate (2.75%) it would grow to about $11,453, and at the highest rate in our table (Oaken Financial, 4.50%) to about $12,462. These are estimates before tax, for a non-redeemable GIC held to maturity.
What to Know Before You Buy
Your Money Is Locked In
EQ Bank says its GICs cannot be redeemed once the cancellation period has passed; its GIC Agreement sets out how long that is. EQ itself says its GICs are not right for you if you may need the money before maturity.
Limits on How Much You Can Buy
Each GIC must be at least $100 and no more than $100,000. You can hold up to 20 active non-registered GICs at a time, and there is no limit on the number of TFSA, RRSP or FHSA GICs, though your government contribution limits still apply.
Maturing Money Is Not Reinvested
When a GIC matures, EQ places the money in the Personal Account you funded it from and sends you an email or text. It then earns the account’s rate until you buy a new GIC, so plan your next step. See our EQ Bank Personal Account review.
Skip the Longest Terms
EQ’s 6-, 7- and 10-year GICs paid 2.35% on the day we checked, well below its 5-year rate of 4.30%. Locking in longer would earn less for more time. EQ also does not offer joint GICs.
Is a EQ Bank GIC Safe?
EQ Bank is a trade name of Equitable Bank, which is a CDIC member. Under CDIC’s rules, eligible deposits are covered up to $100,000 per insured category (for example, in your own name, in a TFSA, in an RRSP, or in an FHSA) at each member institution, including principal and interest. Your EQ Personal Account and your EQ GICs in your own name fall in the same category, so add them together when you check the limit.
This is a summary of what EQ Bank and CDIC publish, not a legal opinion. If you are depositing close to or above the limits, check the details with CDIC.
Frequently Asked Questions
What Are EQ Bank’s GIC Rates Today?
On 19 October 2026, EQ Bank paid 3.70% for 1 year, 4.00% for 2 years, 4.15% for 3 years, 4.20% for 4 years and 4.30% for 5 years. Terms from 3 to 9 months paid 2.55% to 3.25%, and 6-, 7- and 10-year terms paid 2.35%. TFSA, RRSP and FHSA GICs paid the same rates.
Is EQ Bank the Same as Equitable Bank?
Yes. EQ Bank is a trade name of Equitable Bank, so EQ Bank GIC rates and Equitable Bank GIC rates are the same thing.
Can I Cash Out an EQ Bank GIC Early?
No. EQ Bank says its GICs are non-redeemable once the cancellation period has passed, and your money stays locked in until maturity.
How Much Can I Put in an EQ Bank GIC?
Each GIC must be between $100 and $100,000. You can hold up to 20 active non-registered GICs at once, with no limit on the number of TFSA, RRSP or FHSA GICs.
Are EQ Bank GICs CDIC Insured?
Yes. Equitable Bank is a CDIC member, so eligible deposits are covered up to $100,000 per insured category. Your EQ Personal Account and GICs held in your own name count toward the same limit.
What Happens When an EQ Bank GIC Matures?
EQ places the money in the Personal Account you used to buy the GIC and notifies you by email or text. It is not automatically reinvested in a new GIC.
Related Guides
How We Check These Rates
Every EQ Bank rate on this page comes from EQ Bank’s own rate page, read on 19 October 2026. We do not copy rates from other comparison sites.
The comparison uses our weekly table of 11 banks and credit unions, where every rate also comes from the institution’s own site. We re-check this page every week and update the date at the top. If we cannot confirm a rate, we remove it rather than show a number we have not checked.
This page is general information, not financial advice. For a decision that depends on your own circumstances, speak to a qualified professional.
Rates last checked 19 October 2026.