Effective today, EQ Bank has lowered its 1-Year GIC rate down to 5.00% from 5.10%.
EQ Bank’s 15 Month, 2 Year and 27 Month GIC rates have also dropped by 10bps, down to 4.90%, 4.65% and 4.55% respectively.
This applies both to non-registered & registered rates. All other rates remain unchanged at this time.
Could this move suggest expected downward pressure on mortgage rates? That remains to be seen.
To find the best GIC rates in Canada, visit our Best GIC Rates In Canada page.
Cris graduated from the Computer Science Technology program at John Abbott College in 2009 and obtained a Bachelor of Commerce from the John Molson School of Business in 2015. He has been working in web technologies and web marketing for over 10 years and has managed Loans Canada's technology and marketing efforts since the company's inception.
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