North Bay residents — compare top Canadian banks for savings rates, no-fee chequing, and mortgage options. Known as the Gateway to the North, North Bay is a hub for government services and tourism.
Population ~50,000 · Updated 2025Rates and features as of 2025. Always verify directly with the institution.
North Bay buyers pay Ontario LTT only — no municipal land transfer tax applies here.
Rates: 0.5% ≤$55K · 1.0% $55K–$250K · 1.5% $250K–$400K · 2.0% $400K–$2M · 2.5% above $2M. FTB rebate: full ($4,000) if price ≤$368,000, partial up to $400,000, zero above $400,000.
Local answers for North Bay home buyers and savers.
North Bay home prices typically average $320,000–$400,000, making it moderately priced compared to southern Ontario. First-time buyers under $368,000 qualify for the full $4,000 Ontario FTB rebate.
No. North Bay only charges the provincial Ontario Land Transfer Tax. No city-level LTT applies, unlike in Toronto.
North Bay has branches for all major Canadian banks. The Near North Midwifery and Near North District School Board are major employers that often have banking partnerships. Digital options like KOHO and EQ Bank are available anywhere in Ontario.
Yes — digital banks like EQ Bank (3.75% savings) and KOHO (5.00% on balance + $100 bonus) offer better rates than most branch banks and are accessible across all of Northern Ontario.