Earn up to
130x
† more than at a traditional bank
Move your money with ease
Made for all Canadians
Neo Savings is not available for Québec residents. Don't worry — we're coming soon.
Open an account in minutes
Forget the fees
Safe and secure with Neo
Watch Your Money Grow
See how much you can save over time‡
$1,337
1 Year Savings
$1,337
5 Year Savings
$1,337
10 Year Savings
$10,000
Initial Investment
1.30%*
Interest Rate
How we stack up
Discover more ways to maximize your savings
FAQs
Absolutely. We’re here to give you the most out of your money, so you keep the extra cash and do what you want with it.
No. You’re saving every bit possible, so you can focus on knocking off your financial goals and setting new ones.
Earn 1.30%* interest on your entire Neo Savings balance, no matter if you're a new or an existing member. Neo Savings offers one of the highest rates in Canada and it's not an introductory or promotional rate.
Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice. Check here to calculate your savings.
Yes. The Neo Savings account is provided by Concentra Bank, a CDIC member institution, and is eligible for CDIC deposit protection. Deposits held in Neo Savings accounts are combined with eligible deposits held at Concentra Bank, for up to $100,000 of deposit protection, per category, per depositor.
The Neo Savings account makes it easy to make deposits, send transfers and pay bills. To send and request money, add a contact from your phone's address book or create them manually. Transfers are sent via Interac e-Transfer®. To pay a bill, add an organization to the Payments section in the Neo app.
*Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
†Based on research comparing high-interest savings rates of Canada’s ‘Big 5’ banks using a $100 investment, excluding promotional rates and rate premiums. Research was conducted by Neo Financial and based on data taken from public websites as at May 12, 2021.
‡Based on a $10,000 balance over 5 years with an interest rate of 1.30%*, void of tax, inflation or other variables which may impact savings. This calculator is provided for illustrative purposes only.
§Based on research comparing high-interest savings accounts of Canada’s ‘Big 5’ banks, excluding promotional rates and rate premiums. Research was conducted by Neo Financial and based on data taken from public websites as at February 22, 2021.
® Trade-mark of Interac Inc. Used under license.
