KOHO vs Tangerine 2025: Which Is Better?

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Updated March 2025. KOHO and Tangerine are both popular no-fee banking options for Canadians. KOHO is a fintech focused on spending and cash back; Tangerine (owned by Scotiabank) is a digital bank with competitive savings rates. Here's a detailed comparison to help you decide.

Our Pick: KOHO

KOHO is Canada's top no-fee bank for everyday spending: zero monthly charges, up to 2% cash back on groceries and gas, and instant spending notifications. Use code BREMO2026 for a sign-up bonus.

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KOHO vs Tangerine: Quick Comparison

Feature	KOHO	Tangerine
Monthly Fee	$0	$0
Cash Back on Groceries	Up to 2%	2% (on 2 categories)
Cash Back on Gas	Up to 2%	2% (if selected)
Savings Interest	~0.5%	~2.75–6% (promo)
Credit Building	Yes (add-on)	No
Instant Notifications	Yes	Limited
Owned By	Koho Financial	Scotiabank
CDIC Protected	Yes (via partners)	Yes (directly)

Cash Back: KOHO vs Tangerine

Both KOHO and Tangerine offer cash back on everyday spending, but with different structures:

KOHO: Earns 1% cash back on groceries and transport by default. Upgrade to KOHO Extra for 2% on groceries, dining, and transport. Cash back is credited automatically every month with no caps.
Tangerine: 2% cash back in up to 3 categories of your choice (from 10 options including groceries, gas, restaurants, entertainment). 0.5% on all other purchases. Excellent if you optimize your category selections.

Verdict on cash back: KOHO wins for simplicity and real-time tracking. Tangerine wins for flexibility in choosing your bonus categories — but you have to actively manage it.

Savings Rates: Tangerine Wins

This is where Tangerine has a clear advantage:

Product	KOHO	Tangerine
Savings Account	~0.5%	~2.75–6% (promotional)
TFSA	N/A	~2.75%+
GICs	No	Yes
Promotional Welcome Rate	No	Up to 6% (new clients)

If you want to earn meaningful interest on your savings, Tangerine is the better choice. KOHO's savings rate is modest and the product is not designed as a savings-first platform.

KOHO Wins on Spending Features

KOHO is purpose-built for everyday spending and financial tracking:

Instant notifications for every transaction — you know where your money is going in real time
Spending analytics and categorization to help you budget
Vaults — save money toward specific goals within the app
RoundUp — automatically rounds up purchases and saves the difference
Credit building — KOHO's Credit Building add-on helps Canadians with no credit or poor credit build a credit score
Earned Wage Access — get paid before payday on eligible purchases

Credit Building: KOHO's Unique Feature

KOHO offers a Credit Building add-on ($7/month or included with KOHO Extra) that reports to Equifax and helps establish or improve your credit score. This is especially valuable for:

New Canadians without a Canadian credit history
Young Canadians just starting to build credit
Anyone rebuilding credit after financial challenges

Tangerine does not offer a similar credit building feature.

Who Should Choose KOHO?

Canadians who want to track and control daily spending
Those building or rebuilding credit
People who want instant transaction notifications
Anyone who wants straightforward cash back without category management

Who Should Choose Tangerine?

Canadians who want to maximize savings interest
Those who want a TFSA or GICs at a no-fee bank
Customers who want to choose their own cash back categories
People who prefer a bank backed directly by a Big 5 institution (Scotiabank)

Our Pick: KOHO — KOHO wins for everyday spending, cash back simplicity, budgeting tools, and credit building. Tangerine is the better choice if savings rates and GICs are your priority. Many Canadians use KOHO for daily spending and Tangerine (or EQ Bank) for savings.

Information current as of March 2025. Promotional rates at Tangerine change frequently. Verify current offers directly.