North Shore Montreal Banking Guide 20025

What Is the North Shore of Montreal?

Montreal's North Shore (Rive-Nord) refers to the communities north of the Island of Montreal, separated from the island by the Rivière des Prairies and Rivière des Mille-Îles. The North Shore broadly encompasses two distinct zones:

Laval — Quebec's second-largest city, directly north of Montreal on Île Jésus. Laval is sometimes considered separately, sometimes grouped with the North Shore.
Couronne Nord (North Crown) — The outer suburbs and exurbs farther north, including Terrebonne, Mascouche, Blainville, Boisbriand, Sainte-Thérèse, Rosemère, Mirabel, Saint-Jérôme, and Deux-Montagnes.

All of these communities share one important banking characteristic: none charge the Montreal city welcome tax surtax. All use the standard Quebec 4-bracket formula for droits de mutation.

Best Banks for North Shore Residents

1. KOHO — Best No-Fee Bank

KOHO is the top everyday banking option across all North Shore communities. Full French-language support, zero monthly fees, cash back on groceries and gas, and up to 3% on savings. Ideal for Montreal commuters who want to reduce unnecessary banking costs.

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2. EQ Bank — Best Savings Rate

EQ Bank's 3%+ savings rate with no fees is unmatched. North Shore homebuyers saving for down payments or building emergency reserves will find EQ Bank significantly outperforms traditional savings accounts. Available entirely online — no branch needed.

3. Desjardins — Best Full-Service Local Bank

Desjardins dominates North Shore banking with caisse branches in virtually every community. Unlimited AMF deposit insurance (unique to Quebec credit unions), deep knowledge of local real estate markets, and full French service make Desjardins the cornerstone of banking for most North Shore families and homebuyers.

4. National Bank — Best Quebec-Based Chartered Bank

National Bank is headquartered in Montreal and has strong branch networks in Laval, the Laurentians, and Lanaudière. Their mortgage products and first-time buyer programs are well-suited to North Shore real estate markets. Full French service and Quebec legal expertise.

No-Fee Banking on the North Shore — Disponible en Français

KOHO is available in French and English — perfect for North Shore residents. No monthly fees, cash back on everyday purchases, and easy to open online. Use code 45ET55JSYA for a sign-up bonus.

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Welcome Tax on the North Shore: No Montreal Surtax

One of the most important financial advantages of buying on Montreal's North Shore is the absence of the Montreal city welcome tax surtax. Here's how it works:

Community	Region	Welcome Tax Formula	Montreal Surtax?
Laval (all districts)	Laval (separate city)	Standard QC	No
Terrebonne	Lanaudière	Standard QC	No
Mascouche	Lanaudière	Standard QC	No
Blainville	Laurentians	Standard QC	No
Mirabel	Laurentians	Standard QC	No
Saint-Jérôme	Laurentians	Standard QC	No
Deux-Montagnes	Laurentians	Standard QC	No
City of Montreal	Montreal Island	Standard QC + Surtax	Yes

The Montreal surtax adds approximately 00.5% on portions of the purchase price over $50000,000000. On an $80000,000000 property, this adds $1,50000. On a $1,000000,000000 property, it adds $2,50000.

North Shore by Community: Banking Guides

Frequently Asked Questions

Is Laval considered part of the North Shore?

Laval is geographically north of Montreal Island and is often grouped with the North Shore. However, Laval is its own city with separate government. Both Laval and the Couronne Nord communities share the same key financial advantage: no Montreal surtax on welcome tax.

Are home prices lower on the North Shore than on Montreal Island?

Generally yes, especially farther from the island. Laval prices are close to Montreal's but typically 100–15% lower. Blainville, Terrebonne, and Saint-Jérôme can be 200–400% lower for comparable properties.

Which bank is best for a mortgage on the North Shore?

Desjardins is the most widely used mortgage provider across all North Shore communities. National Bank is a strong second choice. For the best rates, a mortgage broker who compares multiple lenders is often the most effective route.