No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
Breaking your mortgage early can trigger a prepayment penalty. For variable-rate mortgages, it's typically 3 months' interest. For fixed-rate mortgages, it's the greater of 3 months' interest or the Interest Rate Differential (IRD).
The Interest Rate Differential (IRD) compensates the lender for the interest they lose when you break your mortgage. It equals the difference between your contract rate and the lender's current rate for the remaining term, multiplied by your balance and time remaining.
Big bank IRD calculations are notorious for being higher because they compare your discounted rate to the posted rate — not the actual current market rate.
Once you know your numbers, start acting on them. KOHO offers free banking with no monthly fees. Use code BREMO2026 for a bonus when you open your account.
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