Grow your savings faster

Earn
1.55%
on every dollar with Neo Savings.
Savings interest rate is calculated daily on the closing balance and paid monthly. Rates are per annum and can change without notice.
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Savings that actually grow

Earn up to

30x

more than at a traditional bank

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 January 11, 2021.
Get the most out of your money with our market leading interest rate and reach your goals faster.

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

1.55%*

Interest Rate

$10,000

$100,000

*Based on a $10,000 balance over 5 years with an interest rate of 1.55%*, void of tax, inflation or other variables which may impact savings. This calculator is provided for illustrative purposes only.

Move your money with ease

Pay bills, make deposits, withdraw and transfer, all from one place.

Forget the fees

No monthly fees, minimum balances or transaction limits.

Open an account instantly

Manage everything from your phone, whenever and wherever you want.

Made for all Canadians

We believe in everyday prosperity for all, so everyone is eligible.
The Neo Card and Neo Savings are available across Canada. Don’t worry Québec — we’re coming soon.

Safe and secure with Neo

The Neo Savings account is provided by Concentra, 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.

Move money with ease

  • Make deposits
  • Pay bills
  • Transfer funds
  • Withdraw cash
  • Send money

How we stack up

1.55%

Savings rate

$0

Interac e-Transfers®

$0

Bill payments
Neo to Neo transfers
(coming soon)
Mobile bank to bank transfers
Mobile cheque deposits
(coming soon)
Paper cheques

Traditional Banks

0.05%

Savings rate

$1

Interac e-Transfers®

$0

Bill payments
Neo to Neo transfers
Mobile bank to bank transfers
Mobile cheque deposits

For a fee

Paper cheques

Discover more ways to maximize your savings

Let’s get in touch

Have questions or want to chat? Reach out to speak with our support team.
Live call support from Monday to Friday, 9:00 am to 5:00 pm MT
An email icon
support@neofinancial.com
A telephone icon
1 (855) 636-2265

FAQs

Are there really no monthly fees?

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.

Do I need a minimum deposit or balance on my Neo Savings account?

No. You’re saving every bit possible, so you can focus on knocking off your financial goals and setting new ones.

What is the interest rate?

Earn 1.55% interest on your entire Neo Savings balance, no matter if you’re a new or an existing member. We offer one of the highest rates in Canada and it’s not an introductory or promotional rate. Earn up to 30x more than a traditional bank. Compare Neo Savings with the top high-interest savings accounts.

How do you calculate interest on a high-interest savings account?

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.

Is my money insured?

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.

How do I move or transfer my money?

The Neo Savings account makes it easy to make deposits, withdraw cash, 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. 

Join Neo today

Explore the app and apply. A more rewarding future awaits.

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