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Email this7:03 am
November 8, 2018
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EQ bank email arrived today in my Inbox.
Being transparent with our valued customers is important to us, especially with a new product like the Notice Savings Account. Given the requirement for you to provide advance notice to withdraw funds, we are letting you know early that our Notice Savings Account rates will be decreasing in September.
You will continue to earn interest at the current rates until the rates we offer officially change in September. We will notify you of the new rates and date they will take effect after the Bank of Canada’s announcement on September 4, 2024.
7:31 am
August 4, 2010
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They introduced the 30-day at the BoC rate (and BoC -50bps for the 10 day) just before the first drop this summer. So they could potentially drop those rates 50bps, or even 75bps if there is another BoC decrease in September, depending on where they are planning to position those accounts. They might keep the 30-day rate above the BoC rate if the extra stickiness is worth it to them, but it seems a bit generous.
I guess the next domino is the Koho 5%... 🙂
10:03 am
April 21, 2022
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Alexandre said
EQ bank email arrived today in my Inbox.Being transparent with our valued customers is important to us, especially with a new product like the Notice Savings Account. Given the requirement for you to provide advance notice to withdraw funds, we are letting you know early that our Notice Savings Account rates will be decreasing in September.
You will continue to earn interest at the current rates until the rates we offer officially change in September. We will notify you of the new rates and date they will take effect after the Bank of Canada’s announcement on September 4, 2024.
Good news and bad, the good, they gave notice ( pun intended ) of an upcoming rate decrease. The bad news, there's only 15 days before the next BoC announcement on a 30 day Notice Account.
10:36 am
October 26, 2022
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Too bad, so sad
I am thinking of giving the 30 days notice right now. In 15ish days we will find out about the new rate. Let's say if 4.5 cancel the notice (I think that is allowed), let it go back in automatically. Any holes in the plan?
10:41 am
January 12, 2019
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.
Those rates on EQ's Notice SAs have Always been 'Subject To Change'
at any time.
It looks like that 'Any Time' is gonna happen Soon.
Enjoy what's left of the Ride. 
- Dean
" Live Long, Healthy ... And Prosper! "
11:21 am
April 6, 2013
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HigherRate1 said
Too bad, so sad
I am thinking of giving the 30 days notice right now. In 15ish days we will find out about the new rate. Let's say if 4.5 cancel the notice (I think that is allowed), let it go back in automatically. Any holes in the plan?
The notice can be cancelled any time before the day of the withdrawal. However, it is very likely the 30-day notice account rate will drop below 4½% in September.
There have been two ¼% Bank of Canada rate cuts since the account was launched June 4 with the 5% rate. Had the notice account rate tracked the rate cuts, the rate would be 4½% by now.
11:50 am
September 29, 2017
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The market has been moving downward for a long time and as it stands, you can expect the BoC rate to move down at least 25 pts. We'll see if the market moves more between now and then (in 2 weeks), which could push the BoC rate to move even more.
The Fed rate is poised to move down at least 50 pts at the next announcement, in 4 weeks.
12:45 pm
November 8, 2018
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Norman1 said
HigherRate1 said
Too bad, so sad
I am thinking of giving the 30 days notice right now. In 15ish days we will find out about the new rate. Let's say if 4.5 cancel the notice (I think that is allowed), let it go back in automatically. Any holes in the plan?The notice can be cancelled any time before the day of the withdrawal. However, it is very likely the 30-day notice account rate will drop below 4½% in September.
Even if withdrawal request is not cancelled, funds can be moved from Savings back to Notice account right away.
Also, cancelling withdrawal request is simple and straightforward, I did it once already.
The problem, at least for me, would be where to park Notice account funds. The best HISA promo I currently have is 4.60% until October 31. Even if Notice drops to 4.50%, it is not worth my time to move funds from it.
I'll wait and see.
7:50 pm
April 6, 2013
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E-mail notice of rate change for the EQ Bank notice accounts, effective tomorrow:
| Account | Current rate | Rate beginning September 6, 2024 |
| 10 Day Notice Savings Account | 4.50%* | 4.00%* |
| 30 Day Notice Savings Account | 5.00%* | 4.25%* |
*Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
9:07 am
April 6, 2013
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Just got an email from EQ that the 30 Day notice rate has dropped a whopping .75% overnight to 4.25%. We have TFSAs with EQ, and was going to take a serious look at moving a good chunk of our uncommitted Cash into this type of account, but likely not worth the bother now. 🙁
Edit: after reading the 'fine print' looks like they're just playing catch-up, since rates held steady during the prior 2 BofC rate reductions since June. Oh well.
The updated 4¼% rate for the 30-day notice account not very compelling.
Definitely not interesting at all for those with Scotia iTRADE brokerage accounts who can place money into the Series F Scotiabank ISA's. The ISA's don't require 30 days of notice and currently pay 4½%. That is expected to drop to the same 4¼% rate shortly as a consequence of the recent Bank of Canada rate cut.
7:33 pm
September 28, 2023
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I have all my cash other than short term needs in GICs right now anticipating further rate cuts, but if I were to open one of these Notice accounts, I would forfeit the 25bp and go with the 10day account. I would say at least 50-75bp extra is needed to wait 3 extra weeks for the funds to withdraw.
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