A full breakdown of fees, bonuses, cash back, savings rates, and which account wins for Canadian residents.
Side-by-Side
Every major feature compared. Green cells indicate the better value.
| Tangerine | National Bank | |
|---|---|---|
| Signup Bonus | None (occasional promo rates) | None |
| Monthly Fee | $0 | $10.95–$26.95/month |
| Cash Back | 2% in 2 chosen categories | Via NBC Mastercard products |
| Credit Check | Soft check for savings, hard check for credit card | Hard credit check |
| Savings Interest | 0.10% standard (promos to 5%+) | 0.01–0.05% standard |
| Credit Building | Yes — via Tangerine credit card | Yes — credit card products |
| Mobile App | ⭐⭐⭐⭐ (4.1 App Store) | ⭐⭐⭐⭐ (4.1 App Store) |
| CDIC Protected | Yes — CDIC member | Yes — CDIC member |
Deep Dive
The key strengths and weaknesses of each account.
Our Verdict
Tangerine edges ahead for most Canadians because it charges no monthly fees.
Get Started
Compare both options and claim any available signup bonuses below.
FAQ
It depends on what you need. Tangerine (Online bank from Scotiabank with no monthly fees) vs National Bank (Quebec's national bank, strong in Eastern Canada). For a signup bonus, Tangerine offers None (occasional promo rates) while National Bank offers None. For monthly fees, Tangerine charges $0 vs National Bank's $10.95–$26.95/month. See the full comparison table above for a complete breakdown.
Tangerine signup bonus: None (occasional promo rates). National Bank signup bonus: None. If neither offers a cash bonus, consider also opening KOHO (code 45ET55JSYA for $80 free) or Neo Financial (code J4C9H3K5 for $50 free) — the two biggest free bonuses available to Canadians right now.
Tangerine: Yes — CDIC member. National Bank: Yes — CDIC member. CDIC coverage protects deposits up to $100,000 per category at member institutions. Always verify current coverage details on the CDIC website.
Yes — there is no rule preventing Canadians from holding multiple bank accounts simultaneously. Many people keep one account for savings and another for spending. You can open both Tangerine and National Bank to take advantage of each account's best features.
Tangerine monthly fee: $0. National Bank monthly fee: $10.95–$26.95/month. Monthly fees are one of the biggest differences between accounts — even $15/month adds up to $180/year.
Tangerine cash back: 2% in 2 chosen categories. National Bank cash back: Via NBC Mastercard products. Cash back rates can vary significantly depending on spending categories. Check each bank's current promotions as rates change.
🔥 Canadians are claiming $80 free from KOHO right now
Claim $80 Free →