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 savings rate, see how it compares to Canadian benchmarks, and find out how long it will take to reach your financial goals.
Switch to KOHO and instantly save $180–$360/year in bank fees (which most Canadians waste). KOHO also pays 3.0% interest on your balance — so every dollar you save earns while you plan. It's the easiest savings rate improvement available.
Open KOHO Free + $100 Bonus →| Savings Rate | Working Years | Retire By | Context |
|---|---|---|---|
| 5% | 66 years | Age ~91 | Below avg — most Canadians |
| 10% | 43 years | Age ~68 | Minimum recommended |
| 15% | 37 years | Age ~62 | Good — early retirement possible |
| 20% | 32 years | Age ~57 | Target — comfortable retirement |
| 30% | 26 years | Age ~51 | Excellent — possible early retirement |
| 50% | 17 years | Age ~42 | FIRE movement target |
| 70% | 9 years | Age ~34 | Extreme FIRE |
Assumes starting at age 25, 4% safe withdrawal rate in retirement, 7% annual return. Illustrative only.
The average Canadian pays $240/year in bank fees. Switching to KOHO ($0) is instant, free money. That's 1–2% savings rate improvement on a $24,000 income with zero lifestyle change.
Set up automatic transfers on payday. If you never see the money, you won't spend it. "Pay yourself first" — save before spending. KOHO's vaults make this automatic and visual.
Each time you get a pay raise, increase your savings contribution by at least half the raise amount. Your lifestyle stays the same but your savings rate jumps significantly over time.
Increasing your savings rate by just 1% per year — not a dramatic lifestyle change — adds up enormously over 10–20 years. Start at 5%, target 20% by year 15.