Top 6 banking picks for Montérégie residents and home buyers — with a free Quebec droits de mutation calculator.
Varennes is a Montérégie municipality situated on the south shore of the St. Lawrence River about 25 km east of Montreal, within the Vallée-du-Richelieu MRC. It is notable both as a growing bedroom community and as a major industrial corridor — Varennes hosts significant petrochemical and industrial facilities along the St. Lawrence, as well as being the planned home of Lion Electric's battery manufacturing plant, part of Quebec's emerging clean-tech economy.
Average home prices in Varennes run around $450,000, representing solid south-shore value with direct Autoroute 30 access to Montreal. The municipality has a beautiful waterfront along the St. Lawrence and a charming old village core with historic stone architecture.
Varennes is known for being the birthplace of Pierre Gaultier de Varennes et de La Vérendrye — the legendary French-Canadian explorer who pushed European exploration deep into western Canada in the 1730s and 1740s. A historic plaque and local heritage recognition honour his legacy.
Industrial employment at Varennes' chemical and battery plants provides stable, well-paying jobs that support the local real estate market. National Bank, TD, and Desjardins serve Varennes and the greater Vallée-du-Richelieu corridor. KOHO and EQ Bank work well digitally for tech-forward residents.
The droits de mutation on a $450,000 home is approximately $5,181 — no Montreal island surtax. Quebec's standard formula applies with no first-time buyer rebate.
Standard QC formula — no Montreal island surtax. Avg. home ~$450,000 → approx. $5,166.00 welcome tax. Consult a notary for exact obligations.
| 0.5% on first $52,800 | |
| 1.0% on $52,801–$264,000 | |
| 1.5% on $264,001–$528,000 | |
| 2.0% above $528,000 | |
| Total Droits de Mutation |
KOHO offers free banking with cash back on everyday purchases — popular with Quebecers who want to complement their Desjardins account with a no-fee Visa card.
KOHO Gratuit — Code 45ET55JSYA3.0% HISA, zero monthly fees, $100 welcome bonus with code 45ET55JSYA. Visa card accepted everywhere in Varennes. CDIC-insured through Peoples Bank of Canada.
3.75% Savings Plus Account — Canada's highest no-fee savings rate. Ideal for building a down payment in Varennes's ~$450,000 market. CDIC insured.
Quebec's dominant cooperative financial group with deep roots in Montérégie. Strong mortgage products and local caisse network. Deposits insured by DPFQ.
Full-service personal and mortgage banking with a strong mobile app and wide ATM network. Serves Varennes and Montérégie residents. CDIC insured.
Headquartered in Montreal with deep Quebec market expertise. Competitive mortgage products for Montérégie buyers. Strong online application. CDIC insured.
Comprehensive personal banking, mortgages, and investment products for Varennes residents and buyers. Canada's largest bank. CDIC insured.
For a $450,000 home in Varennes, the droits de mutation is approximately $5,166.00. No Montreal island surtax applies here. Quebec provides no first-time buyer exemption — all buyers pay the full welcome tax. Use our calculator above for your specific purchase price.