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.
Get started

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.

Move your money with ease

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

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.

Open an account instantly

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

Forget the fees

No monthly fees, minimum balances or transaction limits.

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.

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

How we stack up

Traditional Banks§
Savings rate
1.55%*
0.05%
Interac e-Transfers®
$0
$1
Bill payments
$0
$0
Neo to Neo transfers
(coming soon)
Mobile bank to bank transfers
Mobile cheque deposits
(coming soon)
Paper cheques
For a fee
Learn more

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.

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. 

*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 January 11, 2021.

‡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.

§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.

Join Neo today

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

Get started