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.
Calculate your net worth by entering your assets and liabilities. See where you stand vs Canadian averages and get personalized insights.
| Age Group | Median Net Worth | Avg Net Worth | What Drives It |
|---|---|---|---|
| Under 35 | $68,300 | $157,000 | Early savings, some home equity |
| 35â44 | $234,000 | $476,000 | Growing home equity, RRSP |
| 45â54 | $521,000 | $907,000 | Peak earning, home equity, investments |
| 55â64 | $780,000 | $1,310,000 | Pre-retirement wealth peak |
| 65+ | $615,000 | $950,000 | Drawing down retirement assets |
Statistics Canada Survey of Financial Security, approximate figures. Median is the midpoint â half of Canadians have more, half have less.
Two simple moves: (1) Switch to KOHO and save $200+/year in bank fees that go directly to your net worth. (2) Put your liquid savings in EQ Bank at 3.75% instead of 0.01% at a big bank. These two changes can add $1,500â$3,000 to your net worth annually.
Open KOHO Free + $100 Bonus âFor most Canadians, home equity is 50â70% of total net worth. Every extra mortgage payment directly increases your net worth. Bi-weekly payments and annual lump sums can shave years off your mortgage.
Credit card debt at 20â29% interest is the biggest net worth destroyer. Paying off $5,000 in credit card debt is equivalent to earning 20% risk-free â better than any investment.
$500/month invested at 7% from age 25 = $1.3M at 65. The same $500/month starting at 35 = only $610K. Starting early doubles the outcome. Use TFSA first, then RRSP.
$200/year in bank fees invested at 7% over 30 years = $19,000 in lost net worth. Switching to KOHO ($0 fees) is the simplest net worth improvement available.