EQ Notice: NEW Account from EQ Bank

EQ Bank Notice Account Review
  • Best Interest in Canada
  • Ease of Use
  • Safety (CDIC Insured)
  • No Fees
  • Customer Service
  • Account Options

EQ Bank Notice Account Review Summary:

There is only one place to go if you want the best interest rate in Canada: The EQ Notice Account!

Sure, you can try shuffling your money around every three months to take advantage of teaser rates (enjoy the hours of paperwork and onboarding each time).

The EQ Notice Account is fully CDIC-insured and is the best place in Canada to save up for your next trip or a new vehicle. Just be prepared to give 10-days notice to get your cash out (sort of like a mini-GIC) and in return EQ gives you the best high interest savings rate in Canada. No automatic deposit required, no hoops to jump through.

See my full EQ Bank Review for more details on why I still love EQ Bank after becoming one of their first customers eight years ago.


  • Best Interest Rate in Canada
  • CDIC Insured = Ultra Safe
  • No Minimum Account Balance
  • Very Easy to Use
  • Excellent Mobile App
  • #1 Online Bank in Canada by Forbes


  • Not yet available for FHSA, RRSP, and TFSA (they’re working on it)
  • No Corporate or Business Accounts

What is the EQ Notice Account?

There are three things you need to know about the NEW EQ Notice Account:

1) It’s a brand new product in Canada – no other bank has it. It’s based on a model that has been around for decades over in the UK.

2) Your money will be fully insured by the government of Canada under the CDIC – it’s the safest possible standard for a bank account in Canada.

3) It’s the highest long-term interest rate in the country – and it’s likely to stay that way!

Is It a GIC or an HISA?

If you’re wondering how EQ can suddenly offer rates so much higher than those in other high interest savings accounts, it’s due to the nature of this new “Notice Account.”

The “Notice Account” is like a GIC and a regular high interest savings account had a child together. In order to lock in these high interest rates you have to give EQ at least 10 days notice before you withdraw money. So in some ways it’s like a 10-day or a 30-day GIC – but much easier to use.

You just send some cash from your regular EQ account to your new Notice Account and *voila* you’re now getting the highest interest rate in Canada (and it’s not a teaser rate that will disappear in 3 months). It’s the perfect place to save for a down payment, a new car, or your next big trip.

Even if you wanted to use the new account for something like your emergency fund, you could always store a third of your cash in your everyday EQ account, and then put the rest in the 30-day Notice Account to max out the interest earned.

Can I Use the EQ Notice Account for my RRSP, TFSA, or FHSA?

As of today the EQ Notice Account cannot be used inside of a Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA), or First Home Savings Account (FHSA).

Mahima Poddar, senior vice-president and group head of personal banking at EQ stated in a recent interview with the Globe and Mail that EQ is considering whether to offer these registered account versions of the EQ Notice Account. 

Consequently, I’d definitely let EQ know that this is something that you’re interested in! (I have.)

EQ Notice vs Other Interest Rates

 EQ Notice Account

 Neo Financial


Wealthsimple Cash

RBC High Interest eSavings

TD ePremium Savings Account

Interest Rate







CDIC (Government Insured)

Paycheque Deposit Required?















EQ Notice High Interest Account FAQ


FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.
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18 days ago

Hello, thanks for the write-up. What are your views on self-directed savings accounts such as RBF2010? It has a 1 day withdrawal notice (T+1), and is currently offering 4.55%.