Compare the top banking options for Muskoka District residents in Gravenhurst. From no-fee online banks to full-service Big Five branches and local credit unions.
EQ Bank
3.75%
Savings Plus Account
No monthly fee • No minimum balance
+ Up to $200 welcome bonus
KOHO
5% cash back
On groceries & eating out (Premium)
No-fee & premium tiers available
+ $60 referral bonus (code: 45ET55JSYA)
Simplii Financial
$400 bonus
New chequing account offer
No monthly fee chequing
+ 6.00% savings promo (90 days)
Tangerine
$250 bonus
New client cash back offer
No monthly fee chequing
+ 5.25% savings promo (5 months)
RBC Royal Bank
$300 bonus
New chequing account
$4–$30/mo (waivable)
Branches across Ontario
TD Bank
$350 bonus
New chequing account
$10.95–$29.95/mo (waivable)
Largest ATM network in Canada
BMO Bank
$400 bonus
New chequing account
$16.95–$30/mo (waivable)
Strong mortgage & HELOC rates
Scotiabank
$300 bonus
New chequing account
$0–$30.95/mo
Scene+ rewards integration
Best High-Interest Savings Rates — Gravenhurst Residents
Bank
HISA Rate
Promo Rate
Monthly Fee
EQ Bank
3.75%
Up to 4.75%
$0
Simplii Financial
1.50%
6.00% (90 days)
$0
Tangerine
1.00%
5.25% (5 months)
$0
Wealthsimple Cash
3.25%
—
$0
Oaken Financial
3.40%
—
$0
CIBC
0.75%
4.00% (limited)
$0
RBC
0.50%
3.25% (limited)
$0
Rates as of March 2026. Verify on each bank's official website.
Ontario Land Transfer Tax Calculator — Gravenhurst
Buying a home in Gravenhurst? Calculate your Ontario Land Transfer Tax instantly. First-time buyers may qualify for a rebate up to $4,000.
Note: Gravenhurst is in Muskoka District — only the provincial Ontario Land Transfer Tax applies. No Toronto municipal LTT.
Ontario Land Transfer Tax:
0.5% on first $55,000
1.0% on $55,001–$250,000
1.5% on $250,001–$400,000
2.0% on $400,001–$2,000,000
2.5% on amount above $2,000,000
Current Bank Welcome Bonuses for Ontario Residents
Bank
Bonus
Requirement
Expires
BMO
$400
Direct deposit within 90 days
Limited time
TD
$350
Direct deposit + 3 debit transactions
Limited time
Simplii
$400
Direct deposit $100+/month
Limited time
RBC
$300
Direct deposit within 60 days
Limited time
Scotiabank
$300
2 eligible bill payments
Limited time
KOHO Premium
$60 cash back
Use code 45ET55JSYA on signup
Ongoing
Tangerine
$250
Direct deposit + bill payment
Limited time
Banking in Gravenhurst, Muskoka District
Gravenhurst is the southern gateway to Muskoka, located on the shores of Muskoka Bay and Lake Muskoka. Home to the famous Muskoka Steamships and the birthplace of Norman Bethune, Gravenhurst is a full-service Muskoka town with year-round residents and a large seasonal population.
Banking in Gravenhurst
Gravenhurst has TD, RBC, BMO, and Scotiabank branches serving Muskoka residents. For the best savings rates, EQ Bank at 3.75% and KOHO's cash back rewards are hard to beat. Simplii and Tangerine offer strong promotional rates for new customers.
Gravenhurst/Muskoka Real Estate
Muskoka waterfront real estate is some of Canada's most coveted. Lake Muskoka and Muskoka Bay properties regularly sell for $1M–$5M+. Even in-town Gravenhurst homes have appreciated sharply. The LTT calculator is essential at these price levels.
Pro tip: Gravenhurst/Muskoka buyers: at $2M+, Ontario LTT jumps to 2.5% on the excess. A $2.5M property carries roughly $39,250 in LTT. Plan this into your closing budget.
Frequently Asked Questions — Banking in Gravenhurst
What is the best bank in Gravenhurst, Ontario?+
For high savings rates and no fees, EQ Bank and KOHO are top picks. For in-person banking, TD, RBC, and BMO serve Ontario residents. Many residents combine an online bank for savings with a local branch for mortgages.
Is there a municipal land transfer tax in Gravenhurst?+
No. Gravenhurst is in Muskoka District — only the provincial Ontario Land Transfer Tax applies. There is no separate municipal LTT. First-time buyers may receive a provincial rebate of up to $4,000.
Can I get a KOHO card living in Gravenhurst?+
Yes! KOHO is available to all Ontario residents. Use referral code 45ET55JSYA when signing up to earn a welcome bonus. KOHO works as a Visa prepaid card accepted everywhere Visa is accepted.
How is Ontario Land Transfer Tax calculated?+
Ontario LTT is progressive: 0.5% on the first $55,000; 1.0% on $55,001–$250,000; 1.5% on $250,001–$400,000; 2.0% on $400,001–$2,000,000; and 2.5% above $2,000,000. First-time buyers receive a rebate of up to $4,000.
What's the best savings account rate available in Gravenhurst?+
EQ Bank's Savings Plus Account consistently offers among the highest non-promotional rates in Canada at 3.75%+, with no fees and no minimum balance. Simplii and Tangerine often run 5–6% promotional rates for new customers. All are fully accessible from Gravenhurst.