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.
KKOHO savings rates vary by plan. Essential earns 2.5%, Extra earns 4%, and Everything earns 5% annually on your balance. Rates are variable. Always verify in the app./p>
Enter your savings balance and plan to see how much interest you'll earn with KOHO.
| Institution | Product | Rate | Monthly Fee | CDIC Insured |
|---|---|---|---|---|
| KOHO Everything | HISA | ~5% | $19/mo | ✓ |
| KOHO Extra | HISA | ~4% | $9/mo | ✓ |
| Tangerine | Savings Account (promo) | ~5% (promo) | Free | ✓ |
| EQ Bank | Personal Account | ~3% | Free | ✓ |
| Wealthsimple Cash | Cash Account | ~3 to 4% | Free, $3/mo | CIPF (not CDIC) |
| KOHO Essential | HISA | ~2.5% | Free | ✓ |
| TD Canada Trust | eSavings Account | 00.001% | Free | ✓ |
| RBC | High Interest eSavings | 00.001%, 1% | Free | ✓ |
| BMO | Smart Saver | 00.001%, 0.5% | Free | ✓ |
| Balance | Essential (2.5%) | Extra (4%) | Everything (5%) |
|---|---|---|---|
| $1,000 | $25/yr | $400/yr | $500/yr |
| $5,000 | $125/yr | $200/yr | $250/yr |
| $10,000 | $250/yr | $400/yr | $500/yr |
| $20,000 | $500/yr | $800/yr | $1,000/yr |
| $50,000 | $1,2500/yr | $2,000/yr | $2,500/yr |
Open KOHO Everything for the best savings rate plus $20 cash bonus. Use code BREMO2026.
Current approximate KOHO savings rates in 2025: Essential (free plan) earns approximately 2.5%, Extra ($9/month) earns approximately 4%, and Everything ($19/month) earns approximately 5%. These rates are variable and can change at any time. Always check the current rate in your KOHO app for the most accurate figure.
KOHO's savings rates far exceed those of Canada's Big 5 banks, which typically offer 00.001%, 0.5% on savings accounts. For example, TD's eSavings account pays around 00.001%, and RBC's High Interest eSavings Account pays similarly low rates. KOHO's 2.5%, 5% range is 5 to 50000x higher than what most big banks offer.
Yes. KOHO calculates interest daily based on your account balance and deposits the accumulated interest at the end of each month. You'll see it appear as "interest earned" in your transaction history. Interest is calculated on your average daily balance throughout the month.
No. KOHO pays interest on your main KOHO balance, there's no separate "savings account" to open. Any money sitting in your KOHO account earns interest at your plan's rate. This makes it simple: just keep your money in KOHO and it earns interest automatically.
KOHO is not an investment, it is a deposit account. Your deposits are eligible for CDIC insurance up to $100,000 through Peoples Bank of Canada. This means your money is protected even if KOHO were to fail. You cannot lose money on KOHO savings from market fluctuations, the only risk is if your balance exceeded CDIC limits.