Ceramic piggy bank with painting of national flag

At Bank Tool we explore what Canadian financial institutions have to offer and we emphasize the parts we find relevant and valuable.

Receive a bonus when signing up for Tangerine (Formerly ING Direct), one of the banks we rate most highly, by using this free promotional code: Orange Key 40575938S1.  This also supports this site which will always remain free to use.

Equitable (EQ) Bank Launches in Canada and Offers 3% Interest for Savings

A 3% interest rate is the best we know of.  The EQ Bank may not keep this rate forever but they are a new bank and are clearly using this as a way to attract new customers.

They offer options for no monthly fees and no minimum balances and other things that we like to see.  Please note that debit cards are not currently available and this is an online/electronic only bank.

Visit eqbank.ca for more information.

Further Predictions about Canada’s Economy

The Greater Fool is one of our favourite sources for useful and blunt Canadian financial information.  This recent ominous post puts forward the prediction of a 70 cent (against the US dollar) CAD dollar.

Remember, oil is Canada’s big export. Commodity prices are at a 16-year low. And it’s all about to get worse – on December 16th.