Rates were compared using a ratio analysis. Promotions excluded.īased on research conducted by Equitable Bank comparing interest rates of base savings accounts offered by Canada’s ‘Big 5’ banks. Research took place on September 23 rd, 2021. Research considered comparable online global money transfer services and was conducted using the following transactions for $500 CAD: total cost to send CAD to INR in India, total cost to send CAD to USD in the United States and total cost to send CAD to EUR in France. EQ Bank is a trade name of Equitable Bank.īased on research conducted by Equitable Bank comparing exchange rates and transaction fees from Wise, Canada’s ‘Big 5’ banks and Simplii Financial. Return to footnote ** referrer Footnote †Įquitable Bank is a member of CDIC. Rates are calculated on a per annum basis and are subject to change at any time. Except for our limited time rates, the rates shown are in effect as at December 17 th, 2021. Aggregate GIC investment limit of $500,000. In all cases, interest is accrued for the entire GIC term. For GIC terms of 15 and 27 months, interest is calculated on a per annum basis, compounded annually and paid solely at maturity.

For GIC terms of over one year, not including 15 and 27 month terms, interest is calculated on a per annum basis and paid either annually (simple interest) or at maturity (compounded annually). For GIC terms equal to one year, simple interest is calculated on a per annum basis and paid at maturity. For GIC terms of less than one year, simple interest is calculated on a per diem basis and paid at maturity. Limited time rate promotion ends January 20 th, 2022. Return to footnote * referrer Footnote ** Rates are per annum and subject to change without notice. Interest is calculated daily on the total closing balance and paid monthly.

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