EQ Bank, the digital platform of Toronto-based Equitable Bank, announced on Wednesday that it’s adding TFSA and RRSP accounts to its lineup of products.
Clients who have a EQ Savings Plus Account will be able to open an EQ Bank Tax Free Savings Account and/or an EQ Bank Retirement Savings Plan.
There are no fees associated with the new accounts, the bank indicated. Both accounts offer clients 2.30% interest.
EQ Bank was launched in 2016 by Equitable Bank, a Schedule I bank and a member of the Canada Deposit Insurance Corporation.
On Monday, Equitable Bank, a wholly owned subsidiary of Equitable Group Inc., announced it had launched U.S.-currency GICs, which are available exclusively through investment advisors. In April, Equitable Bank launched a U.S. high interest savings account, also available through advisors.
Equitable Group Inc. offers residential lending, commercial lending and savings products and is listed on the Toronto Stock Exchange.