Ontario Banking Guide 2026
Ontario is Canada's most populous province with the widest range of banking options — from the Big Six national banks to local credit unions like Meridian, DUCA, and Alterna Savings. Whether you're in the GTA suburbs, Eastern Ontario's smaller cities, or the vast Northern Ontario region, this guide links you directly to the best bank comparison for your city.
Ontario also has a Provincial Land Transfer Tax (LTT) on top of the municipal LTT in Toronto. First-time buyers can receive a rebate of up to $4,000 on the provincial LTT. Use the calculator below to estimate your costs before choosing a mortgage lender.
Ontario Land Transfer Tax Calculator
Estimate your Ontario LTT before you close. First-time buyers qualify for a rebate of up to $4,000 on the provincial portion.
Best Banks in Ontario Overall — 2026 Picks
KOHO — Best No-Fee Account
No monthly fees, 3% cash back on groceries/restaurants, and a $100 bonus for new Ontario residents. Works province-wide with no branch required. Get code 45ET55JSYA for the bonus.
Scotiabank — Best for Newcomers
The StartRight program waives fees for 2 years for newcomers to Ontario. Strong branch network across all Ontario cities, especially useful in smaller centres.
TD Bank — Best for Travel & Everyday
TD has the largest ATM network in Ontario. All-Inclusive chequing is worth it for heavy users; TD Aeroplan cards are top picks for frequent flyers living in Ontario.
Get $100 Free — KOHO Bonus for Ontario Residents
Open a KOHO account with referral code 45ET55JSYA and earn $100 when you complete your first purchase. No monthly fees, no minimum balance.
Claim $100 KOHO Bonus →