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Email this7:07 am
November 8, 2018
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In our continued effort to provide you with a more transparent banking experience, we’re writing to let you know that on Thursday, Aug. 6, 2020, the interest rate for the Savings Plus Account will change from 2.00% to 1.70%.
7:29 am
October 27, 2013
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That is about where I thought EQ would would position itself although I had hoped for 1.75-1.8%.
Added: It really is too bad but it had to happen. EQ couldn't afford to pay a non-competitive rate, especially after money started pouring in with the availability of joint accounts. It might have lasted longer had they never started accepting joint accounts.
7:37 am
June 1, 2020
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They have a 3 month 1.8% GIC. Are those rates changing?
9:05 am
November 4, 2015
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EQ Bank should be lauded for their effort to provide a more transparent banking experience and a 30 basis points reduction in their interest rate is exactly what was needed to achieve their goal. Looking forward to more of the same.
Oh wait, I forgot but I moved all my deposits already, darn it missing out on all that transparency.
Theodor
9:59 am
October 29, 2017
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theodor said
EQ Bank should be lauded for their effort to provide a more transparent banking experience and a 30 basis points reduction in their interest rate is exactly what was needed to achieve their goal. Looking forward to more of the same.Oh wait, I forgot but I moved all my deposits already, darn it missing out on all that transparency.
Theodor
2.0% is a great rate, not sure why you moved your funds out before the drop?
10:12 am
April 6, 2013
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lacks said
They have a 3 month 1.8% GIC. Are those rates changing?
Not right away. The same e-mail mentions that 1.8% 3-month GIC:
Limited-time offer:
1.80%† on a 3-month GICIf you’re looking for a guaranteed investment, our 1.80% rate on a 3-month GIC is here to grow your savings. Our GICs are a stable way to boost your savings, with locked-in rates that give you earnings you can count on. They’re also incredibly easy to buy—you can purchase one in seconds direct from your account!
That 1.8% 3-month GIC should last at least one more day for tomorrow (Thursday).
2:22 pm
January 3, 2013
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theodor said
EQ Bank should be lauded for their effort to provide a more transparent banking experience and a 30 basis points reduction in their interest rate is exactly what was needed to achieve their goal. Looking forward to more of the same.Oh wait, I forgot but I moved all my deposits already, darn it missing out on all that transparency.
Theodor
I am curious. Where did you move it? 2% was amazing and stable for a very long time. I like EQ's way of doing business.
2:33 pm
October 29, 2017
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Save2Retire@55 said
I am curious. Where did you move it? 2% was amazing and stable for a very long time. I like EQ's way of doing business.
Totally agree. 1.7% is still competitive and I feel EQ deserves my money for a while longer as they held that 2.0% for quite a stretch when everyone else fell off the cliff.
4:27 pm
October 21, 2013
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I was going to move some funds from Peoples to EQ but held off because I felt that after all the others had dropped, that EQ wouldn't be far behind. But I didn't expect 1.7% yet. It feels like they no longer want to maintain their market lead. I was expecting 1.8 - 1.9
5:11 pm
April 7, 2016
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I'll stay with EQ they are still in the ball park and I find they are not the first to lower rates.
They've been fair to me.
5:53 pm
November 4, 2015
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I was angered by the tone of the EQ announcement as I find it condescending. Wonder if they provided their borrowers with the same transparent banking experience by announcing a reduction in the lending rate. Reduce your rates as you see fit but don't try to make me feel as tho you are doing me a favor.
Save2Retire, went with Manulife 150 days @ 2.6%, Tangerine 2.5% until September 30th, CIBC 2.4% for 120 days.
6:17 pm
October 27, 2013
Online
No need to get one's knickers in a knot. It was at least an announcement and the rationale was both logical and true.
11:45 am
February 17, 2013
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theodor said
I was angered by the tone of the EQ announcement as I find it condescending. Wonder if they provided their borrowers with the same transparent banking experience by announcing a reduction in the lending rate. Reduce your rates as you see fit but don't try to make me feel as tho you are doing me a favor.Save2Retire, went with Manulife 150 days @ 2.6%, Tangerine 2.5% until September 30th, CIBC 2.4% for 120 days.
Can't really blame them for trying to put a positive spin on a negative announcement. At least they sent an announcement. Better than checking your account one day and finding the rate had dropped.
As for the drop itself...too bad. It WAS going to be our destination for some funds once our Tang offer expires Aug 31. Not anymore.
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