Salaberry-de-Valleyfield (commonly called Valleyfield) is the largest city in the Haut-Saint-Laurent regional county municipality, situated on Île Saint-Bernard at the confluence of the St. Lawrence River and Lac Saint-François, approximately 60 km southwest of Montreal. The city is known for its Grand Prix nautique — one of the premier powerboat racing events in North America.
Average home prices in Valleyfield run around $310,000, making it one of the most affordable mid-sized cities near Montreal. Quebec's droits de mutation applies on all purchases with no first-time buyer exemption. This guide covers the six best banking options for Valleyfield in 2026.
Valleyfield: Industrial Heritage and Water Sports Capital
Salaberry-de-Valleyfield developed as a textile and industrial hub in the 19th and 20th centuries. Today, the city is known for the Grand Prix de Valleyfield, a prestigious powerboat racing event held annually on Lac Saint-François, drawing competitors and spectators from across North America. The city is the commercial and administrative centre of the Haut-Saint-Laurent region.
Quebec Droits de Mutation Calculator — Valleyfield
At ~$310,000, Valleyfield's welcome tax runs approximately $3,400. Quebec has no first-time buyer exemption — all buyers pay regardless of purchase history.
⚠️ Quebec does not offer a first-time buyer rebate on droits de mutation.
Quebec Droits de Mutation Calculator
0.5% on first $50K • 1.0% on $50,001–$250K • 1.5% on $250,001–$500K • 2.0% on $500,001–$1M • 2.5% above $1M.
For estimation purposes only. Consult a notary or real estate lawyer for your exact tax obligations.
Get $100 Cash — Best No-Fee Bank for Valleyfield Residents
KOHO offers a 3.0% savings rate, zero monthly fees, and a $100 welcome bonus. Use referral code 45ET55JSYA when signing up.
Referral code: 45ET55JSYA • Works everywhere in Canada
Top 6 Banks in Valleyfield, Quebec (2026)
We evaluated institutions on branch access, digital quality, savings rates, fees, and deposit insurance.
| # | Bank / Institution | Savings Rate | Monthly Fee | Deposit Insurance | Branch Access |
|---|---|---|---|---|---|
| 1 | KOHO $100 BonusNo Fees | 3.0% HISA | $0 | CDIC (Peoples Bank) | Digital — Visa everywhere |
| 2 | EQ Bank Best Rate | 3.75% HISA | $0 | CDIC | Digital only |
| 3 | Desjardins Local Co-op | ~0.5–1.5% | $0–$15 | DPFQ | Yes — Valleyfield caisse |
| 4 | National Bank Quebec Focus | ~0.01–0.05% | $4–$25 | CDIC | Yes — Valleyfield branch |
| 5 | TD Canada Trust Branch Access | ~0.01–0.05% | $4–$30 | CDIC | Yes — Valleyfield branch |
| 6 | BMO Branch Access | ~0.01–0.05% | $4–$30 | CDIC | Yes — Valleyfield branch |
Detailed Bank Reviews
1. KOHO — Best Overall for Valleyfield
KOHO is our top pick for Valleyfield residents in 2026. A 3.0% savings rate, zero monthly fees, and a $100 welcome bonus (code 45ET55JSYA) provide excellent value for Valleyfield's budget-conscious residents. CDIC-insured through Peoples Bank of Canada.
2. EQ Bank — Best Savings Rate
EQ Bank's 3.75% Savings Plus Account rate is among the best in Canada. No monthly fees — ideal for Valleyfield residents building a down payment on the city's affordable ~$310,000 average homes.
3. Desjardins — Best Local Institution
Desjardins has deep roots in Valleyfield and the Haut-Saint-Laurent region. The local caisse populaire offers full-service banking including competitive mortgages, insurance, and business services. Deposits covered by DPFQ.
4. National Bank — Best Quebec-Focused Bank
National Bank has a branch presence in Valleyfield offering personal and business banking with competitive mortgage products. CDIC insured.
5. TD Canada Trust — Reliable Branch Banking
TD Canada Trust operates in Valleyfield with full banking services including mortgages, chequing, and wealth management. CDIC insured.
6. BMO — Full-Service Banking
BMO provides comprehensive banking in Valleyfield serving the Haut-Saint-Laurent community with personal and business banking. CDIC insured.
Valleyfield: Affordable Montreal-Area Alternative
At ~$310,000 average, Valleyfield is one of the most affordable mid-sized cities near Montreal. The welcome tax on a $310,000 purchase is ~$3,400. EQ Bank's 3.75% HISA is excellent for building your down payment.
Frequently Asked Questions — Valleyfield Banking
Valleyfield has branches from TD, BMO, National Bank, RBC, and Scotiabank, as well as a strong Desjardins caisse populaire. KOHO and EQ Bank work well digitally for all residents.
On a $310,000 purchase: 0.5% on first $50,000 = $250; 1.0% on $50,001–$250,000 = $2,000; 1.5% on $250,001–$310,000 = $900. Total = approximately $3,150. No first-time buyer exemption applies in Quebec.
No. Quebec does not offer a first-time buyer exemption on the droits de mutation. All buyers pay the full welcome tax regardless of purchase history.
Our Verdict for Valleyfield Banking in 2026
Valleyfield offers some of the most affordable housing within reasonable distance of Montreal. The welcome tax on a ~$310,000 home is ~$3,150–$3,400 (no Quebec FTB exemption). Open a KOHO account (3.0%, no fees, $100 bonus with code 45ET55JSYA) and EQ Bank (3.75%) for savings, and use Desjardins or National Bank for mortgages.
For more Quebec banking resources, see Best Banks in Quebec and the Quebec Land Transfer Tax guide.
Disclosure: Bremo may earn a referral commission if you open a KOHO account using our link. This does not affect our rankings. All rates accurate as of March 2026. Not financial advice.