If you are looking for a savings account that really enriches you, check out this EQ Bank Savings Plus account review.

EQ Bank is a digital bank, also known as a non-traditional bank that makes financial management and daily banking easier.

There are no hidden fees, no paying for services you don’t use, no archaic policies, and more. Also, it is all online and straightforward. 

Also, it features one of the best savings interest rates in the market nowadays.

Get an inside look at it before opening an account.

Many banking accounts charge monthly fees that they say they use to maintain their services and provide the best for you.

Well, EQ Bank is different. It doesn’t charge any monthly fees, and it provides a savings account with a high-interest rate, in which you can earn up to 125 more than other banks. That’s because they believe in helping people enriching without banking nonsense.

In case you wonder if it is safe, EQ is backed by Equitable Bank, CDIC membered, and it has fraud monitoring and multiple security layers.

Also, it doesn’t require a minimum balance, the savings and chequing accounts are not separated, and it features some free banking things, as follows:

Free:

In addition, it offers 1.25% interest for all customers. This rate is calculated daily and paid monthly.

Furthermore, EQ provides you with an Education Center full of resources and articles to help you grow and manage your money.

This savings account features some chequing options. So it works as a hybrid savings and chequing account. This means watching your money grow simultaneously managing your cash with convenience.

Even though it doesn’t offer a debit card, this account has no fees of any kind. Plus, it doesn’t require a minimum balance.

So, if you are Canadian, this might be an excellent choice for you to get a high-interest rate better than the average offered by other banks.

Although it doesn’t have physical branches, EQ Bank doesn’t charge for transfers and transactions, too.

Finally, you can withdraw money at any time. But, note that since it doesn’t have ATMs, you need to transfer funds to another bank account to get physical cash if needed.

EQ Bank makes a soft credit check when you apply for an account. Unfortunately, we weren’t able to determine a punctual score. But the eligibility criteria are:

Are you ready to earn a high-interest rate on your savings account? Then, learn how to open an EQ Bank Savings Plus account right away!