EQ Bank offering 3% interest rate

How many times have you looked at your bank account and wondered how 0.05% interest on your investment was ever going to make a difference in your life? How many times have you felt unappreciated, but realized that all banking institutions offered the same rate and there was nothing you could do about it?

There’s a new savings account in town.

Last week jaws dropped with the introduction of EQ BANK Savings plus account, an entirely digitalized online banking experience aimed at helping Canadians save money faster. Most Canadians are seeing little if any return on investment, with an average of 0%-0.05% on basic saving accounts. It’s safe to say that Canadians want more – but have no access.

As it stands Equitable Bank is Canada’s 9th largest independent schedule I bank and offers a diverse list of products. With over 500 employees across the country it was named one of Canada’s best employers for 2016 by Aon. The company had recorded assets of 14.8 Billion as of September 30th 2015 and gets most of its profit from single family mortgages, commercial lending, and financing of government-insured apartment buildings. In the age of mobility statistics show that roughly 55% of all Canadians prefer mobile banking to in-person. A product like this not only targets millennials, but sets the bar for future banking expectations and technological advancements.

CIBC, BMO, TD and other banking institutions offer the choice to bank online using mobile apps, but will that be enough to retain customer loyalty when competing?

The perks of the EQ BANK savings account
– No monthly fees
– No minimum balance required (above $1)
– Unlimited daily transactions
– Up to five (5) free E-transfers per month
– A saving features to let you know exactly how much you will need to reach your goal
– Interest rate of 3%.

Yes you read that correctly, an interest rate of three times the average rate at all other institutions for basic savings accounts. At Fast Access we care about our customers and want you to make the most of your money.

What do you have to lose?
To create an account, simply visit Equitable Bank or download the EQ bank App.