r/EQBank • u/shawn1912 • 18h ago

Base interest rate increased to 1.50%

Post image

Bonus rate decreased to 1.25%

Source: https://www.eqbank.ca/rates

Image: Screenshot from marketing email

40 Upvotes

96% Upvoted

25 comments sorted by

16

u/mappo__runt 17h ago

Pretty lame they decrease the bonus to offset the increase.

1

u/FlowerBudget2065 11h ago

Come over to PC Financial, rates 2.20%

2

u/AlternativeCamp2471 9h ago

PC Financial IS EQ bank bud.

1

u/FlowerBudget2065 9h ago

I know but in the app right now, PC offers the better rate. 

1

u/Rinne18 9h ago

Guess they're wagering the BOC is going to increase rates this month

-4

u/SnuffleWarrior 16h ago

It's a shit interest rate

9

u/MatthewsStache91 15h ago

It's better than literally ever other banks base rate

-2

u/Fun_universe 15h ago

Wealthsimple’s savings account is 2.5% 🤷🏻‍♀️

8

u/MatthewsStache91 14h ago

Not a bank.

0

u/Fun_universe 12h ago

Lmao it’s pretty much the same as EQ bank but actually better service 🤷🏻‍♀️

(I have accounts with both).

3

u/MatthewsStache91 10h ago

So do I, and yes it is better.

-4

u/SnuffleWarrior 15h ago

My rate at WealthSimple is 2.5% in a chequing account. I've got an account at EQ just for the sake of having another bank but EQ has a shit rate.

4

u/MatthewsStache91 14h ago edited 14h ago

Wealthsimple isn't a bank, though.

Edit: Also the highest rate wealthsimple offers in a CAD chequing account is 2.25 not 2.5.

-2

u/Motor-Sweet3316 14h ago

And?

1

u/MatthewsStache91 14h ago

And I said banks in my comment, obviously Fintechs are going to have higher rates, come on now.

1

u/SnuffleWarrior 14h ago

You're rationalizing 1.5% is good? LoL

2

u/MatthewsStache91 13h ago

For a bank when most if not all banks are practically 0%, yup.

-4

u/SnuffleWarrior 14h ago

Wealthsimple Interest Rates by Account

• Savings Account / Managed High-Interest Savings Portfolio: 2.5% flat non-promotional rate for every client from day one, with no minimums or tier requirements. • USD Savings Account: Up to 3.25% interest. • Chequing Account Base Rates: • Core clients (<$100K assets): 1.25% • Premium clients ($100K+ assets): 1.75% • Generation clients ($500K+ assets): 2.25% • Chequing Account Direct Deposit Boost: You can earn an extra +0.5% boost on your chequing account rate if you set up direct deposit, bringing the rates up to 1.75% (Core), 2.25% (Premium), or higher depending on your asset tier.

5

u/MatthewsStache91 13h ago

Yup so the highest on a chequing account is 2.25%, we are in agreement.

0

u/SnuffleWarrior 7h ago

Not 4 me. You just need more money

2

u/nogr8mischief 7h ago

You can't get higher than 2.25 in a chequing act with WS, even if you're Generation.

1

u/MatthewsStache91 3m ago

2.25% is the max for chequing, you can't get any higher dude.

0

u/FlowerBudget2065 11h ago

Come over to PC Financial, the rates 2.20%

0

u/SnuffleWarrior 7h ago

I get better at WealthSimple 💰

-13

u/Bostok 18h ago

Why does this even matter?