Quick Navigation
Pros
- $0 monthly fees
- 3.0% interest on every dollar
- 0.5–2% cashback on all purchases
- $100 sign-up bonus with code 45ET55JSYA
- Instant e-Transfers
- Works everywhere in North York, Toronto
Cons
- No physical branches
- No mortgage products
Pros
- 3.75% — Canada's highest savings rate
- FHSA for Toronto first-time buyers
- $0 fees, free e-Transfers
- No branches needed — 100% digital
Cons
- Savings/GIC only — no chequing
- No physical branches
Pros
- Branches at Sheppard and Yonge
- Unlimited DICO deposit coverage
- Competitive mortgage rates for North York condos
- Free basic chequing
Cons
- Lower savings rates than digital banks
- Ontario-only
Pros
- 15+ North York branches
- TD Direct Investing for Yonge corridor professionals
- Strong Korean-language service at Sheppard branch
- US banking access
Cons
- $16.95–$29.99/month fees
- 0.01% savings interest
Pros
- StartRight newcomer program
- North York branch network
- Mandarin/Korean-speaking staff at select branches
- Scene+ rewards
Cons
- Fees after 2-year newcomer period
- Low savings rates
Toronto Land Transfer Tax Calculator — North York, Toronto
Toronto buyers pay BOTH Ontario LTT AND Toronto Municipal LTT. Enter a North York, Toronto purchase price below.
Bank Comparison — North York, Toronto
| Bank | Monthly Fee | Interest Rate | Bonus | Best For |
|---|---|---|---|---|
| KOHO | $0 | 3.0% APY | $100 | Overall winner |
| EQ Bank | $0 | 3.75% APY | — | Max savings |
| Meridian Credit Union | $0–$14.95 | 1–2% | — | Local + mortgage |
| TD Bank | $16.95+ | 0.01% | — | Branch access |
| Scotiabank | $0–$16.95 | 0.01% | — | Newcomers |
Frequently Asked Questions
What is the best bank in North York, Toronto?
KOHO is the best bank for North York, Toronto residents in 2025. With $0 monthly fees and 3% interest on your balance, you save $500+ per year compared to TD or RBC. Use referral code 45ET55JSYA to get a $100 sign-up bonus.
How much is land transfer tax for homes in North York, Toronto?
Toronto buyers pay double land transfer tax — both Ontario LTT and Toronto Municipal LTT. Use the calculator above to see your exact amount based on your purchase price. First-time buyers can save up to $8,475 in combined rebates.
Is North York part of Toronto for banking purposes?
Yes. North York was amalgamated into the City of Toronto in 1998. Toronto residents in North York pay the same Toronto Municipal Land Transfer Tax as all other Toronto buyers — on top of Ontario LTT. There is no separate North York banking regulator.
What is the average home price in North York in 2025?
The average home price in North York Toronto is approximately $950,000–$1.1M in 2025, depending on the neighbourhood (Willowdale condos vs Willowdale detached houses). Buyers should budget for roughly $25,000–$35,000 in combined Ontario + Toronto LTT.