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Email this1:38 pm
September 30, 2017
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https://www.eqbank.ca/one-percent-match
Any new deposits or transfers made to an FHSA Savings Account, a TFSA Savings Account, or an RSP Savings Account between November 1st, 2024, and February 28, 2025 are eligible for the offer.
We will match 1% (Footnote *) of any new funds transferred or deposited into your FHSA Savings Account, TFSA Savings Account, or RSP, between November 1, 2024, and February 28, 2025. Contributions must be kept in the registered accounts for one year after the promotion end date to be eligible for all four quarterly payments.
The bonus will be calculated based on your registered account’s balance on May 31, 2025, August 31, 2025, November 30, 2025, and February 28, 2026, and will be paid directly into the registered account.
The bonus is based on new funds only, and withdrawals will affect your bonus payout as follows:
Partial Withdrawals: if funds are partially withdrawn before February 28th, 2025, or during the 12-month bonus payout period, the bonus will be calculated and paid on the remaining amount only.
Complete Withdrawals: if funds are withdrawn entirely and not reinstated before February 28th, 2025, you will no longer be eligible for the 1% bonus. (Footnote *) If funds are entirely withdrawn during the 12-month bonus payout period and not reinstated before the next payment calculation date (dates mentioned above), you will also become ineligible for further bonus installments.
2:34 pm
September 30, 2017
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Isn't this like a 1-yr 1% cashable, quarterly paid, in disguise?
5:25 pm
November 8, 2018
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It is almost given that rates will keep going down in the next 12 months. The offer is for funds that are kept for a year. It would make more sense to buy EQ 1yr GIC at 4% today's rate, than keep money at 3.5% and declining rate.
7:12 pm
September 30, 2017
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To soften the blow to rate drop announced, EQ match increased from 1% to 2%
🙁
9:53 pm
September 28, 2023
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Its kind of acting like a cashable BoC rate-linked GIC at a 2% higher rate than their slightly subpar everyday savings rate.
The only good use case for this that I can see is for parking emergency funds... you probably won't touch them and get the 2% bonus, but unlike most GIC's the funds are instantly available should shart happen. If you know you forsure won't need the funds, with the interest rate forecasts, I agree with Alexandre to skip this entirely and buy a GIC.
I would only do this in a TFSA though... withdrawals from a FHSA/RRSP have withholding taxes and fees, and you never get the contribution room back. It is also laborious (and some cases expensive) to transfer between FIs with registered accounts, so I never go rate chasing with my FHSA or RRSP (other than changing up brokerage ISA's).
7:06 am
September 30, 2017
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On their email, EQ directly site Bank of Canada's rate decision as reason for their base rate change. Therefore, one must also "factor in" the BoC dates.
2025-JA29 (Bank of Canada)
2025-MR12 (Bank of Canada)
2025-AL16 (Bank of Canada)
May 31, 2025 (Bonus calculation date)
2025-JN04 (Bank of Canada)
2025-JL30 (Bank of Canada)
August 31, 2025 (Bonus calculation date)
2025-SE17 (Bank of Canada)
2025-OC29 (Bank of Canada)
November 30, 2025 (Bonus calculation date)
2025-DE10 (Bank of Canada)
2026-JA?? (Bank of Canada)
February 28, 2026 (Bonus calculation date)
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