EQ Bank offers non-redeemable GICs with terms from 90 days to 10 years and a $100 minimum investment, held in a non-registered account or inside a TFSA, RRSP or FHSA. EQ Bank doesn’t offer a RRIF. For EQ Bank’s savings accounts, see EQ Bank savings rates; for the bank as a whole, the EQ Bank review. Other banks are in the bank and fintech reviews.
EQ Bank Registered GIC Rates
| Term | Registered GIC rate (TFSA, RRSP, FHSA) |
|---|---|
| 1 year | 3.70% |
| 3 years | 4.15% |
| 5 years | 4.30% |
Rates checked October 5, 2026. Non-registered GIC rates and the other terms (3, 6 and 9 months, 15 and 27 months, 2 and 4 years, and 6 to 10 years) are posted on EQ Bank’s GIC page; non-registered and registered rates for the same term can differ. EQ Bank’s rate curve isn’t a straight line: mid-length terms have tended to post higher rates than the shortest and longest terms. Rates change with Bank of Canada decisions and market conditions, and without notice.
EQ Bank GICs in Registered Accounts
| Account | Tax treatment | CDIC coverage |
|---|---|---|
| Non-registered | Interest taxed as income in the year earned | Up to $100,000 |
| TFSA | Interest tax-free | Up to $100,000 (separate category) |
| RRSP | Interest tax-deferred until withdrawal | Up to $100,000 (separate category) |
| FHSA | Interest tax-free if used for a qualifying first home | Up to $100,000 (separate category) |
Because each registered account is its own CDIC category, GICs held in all three wrappers at EQ Bank are insured separately; CDIC deposit insurance explains the categories. An RRSP GIC holder converting to a RRIF has to move the funds to another institution, since EQ Bank has no RRIF.
How EQ Bank GIC Rates Compare
EQ Bank’s GIC rates are often competitive with other online banks and trust-company issuers such as Oaken Financial, but the gap with any one competitor changes as rates move. GIC rates across Canadian institutions are compared in the best GIC rates.
Laddering GICs at EQ Bank
A GIC ladder spreads money across several terms so part of it matures on a regular schedule. EQ Bank’s $100 minimum and its range of terms make a ladder workable even with small amounts, and the same approach works inside a TFSA, RRSP or FHSA, matching terms to when the money is needed (an FHSA ladder to a planned purchase date, for example). How to build one and how to reinvest as GICs mature are covered in GIC laddering.
At Maturity: Auto-Renewal
EQ Bank GICs can renew automatically at maturity if you give no instructions, at the then-current posted rate for the same term, which may differ from the rate you first locked in. Before the maturity date, EQ Bank Online Banking lets you renew for the same term, choose another term or move the money to the Personal Account. EQ Bank’s site sets out its current maturity-notice timing.
GIC or Personal Account
| Situation | Usual fit |
|---|---|
| Money needed within about 3 months | Personal Account or Notice Savings |
| Money not needed for 6 months or more | A GIC term that matches |
| A known expense date (a home purchase, tuition) | A GIC maturing just before that date |
| An emergency fund | Personal Account (no lock-in) |
Related Pages
Sources
The figures and rules on this page come from these sources, last checked against them between September 15, 2026 and September 25, 2026. How we check facts.
- cdic.ca: What's covered — CDIC
- eqbank.ca: Personal Account | EQ Bank
- eqbank.ca: Notice Savings Account | EQ Bank
- eqbank.ca: RRSP Savings Account | EQ Bank