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Benzinga

Business

Akanksha Bakshi

EQ Bank Raises Interest Rate On US Dollar Accounts By 25bps

United States US Dollar TSX Canada

EQ Bank, powered by Equitable Bank, Canada's Challenger Bank, increased its USD account interest rate by 25 bps to 1.25%. The new rate is now in effect.
Equitable Bank is a subsidiary of Equitable Group Inc. (TSX:EQB) (OTC:EQGPF).
"When we launched US dollar accounts, we wanted to give our customers a far better alternative to what was available in the market. It's not just about a great rate, but it's truly the best account for people who want to grow and send US dollars," stated Mahima Poddar, SVP and Group Head of Personal Banking for EQ Bank.
Price Action: EQB shares are trading higher by 4.17% at C$54.96 on TSX and EQGPF higher by 7.59% at $44.11 on the last check Wednesday.

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