Why must I enter the ongoing rate after a promotion?

A temporary promotional rate applies only during its stated period. The ongoing rate determines the rest of the first-year comparison, so omitting it can materially overstate the value.

Is savings-account interest taxable in Canada?

Interest in a regular non-registered savings account is generally taxable. Interest earned inside a TFSA is generally tax-free, subject to account rules and available contribution room.

Savings Interest Calculator Canada: Compare Promo vs Ongoing Rates

One-tap starting point

What job does this money need to do?

Choose the job first. Bremo will take you to the shortest relevant next step without sending the choice or any amount.

Compare cash savings
Use a verified promo rate, ongoing rate, fees and tax treatment.Open the 12-month comparison →Everyday spending plus interest
Check whether a spending account belongs in the comparison before opening a guide.Open the protected fit check →Registered savings
Resolve TFSA, RRSP, FHSA or non-registered order before comparing providers.Choose the account wrapper →

A choice, calculation, guide open or provider handoff is not an account, paid conversion, payout or revenue.

Tool one

Project compound growth.

Use a rate you verified yourself. Bremo no longer pre-fills a provider rate or calls one account the market leader.

Starting deposit

Monthly contribution

Your estimated annual rateYour estimate—not a verified current offer.

Years

Compounding

Projected balance

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Interest earned

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Total contributed

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Year	Deposited	Interest that year	Total interest	Balance

Tool two

Compare promo plus ongoing.

This is a fixed twelve-month estimate. Every rate below is your input; verify it on the provider's current terms before relying on it.

Balance to compare

Current annual rateYour estimate.

Candidate promotional rateYour estimate.

Promotion duration in months

Required ongoing rate after promotionDo not leave the post-promo period out.

Candidate monthly fee

Tax treatment

Current account net

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Candidate promo interest

Candidate ongoing interest

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Candidate fees

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Candidate net

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12-month net difference

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Tax assumption

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I verified the ongoing rate and promo end dateUse the provider's current terms, not a search snippet.I checked minimum balance, fees and accessFCAC recommends comparing these conditions—not rate alone.

Optional fit check

Considering KOHO for spending plus interest?

KOHO is not a traditional savings-only account. Its interest rate and pricing vary by plan. Match all three statements before continuing to Bremo's current KOHO guide.

I want an everyday spending accountNot only a separate savings account.I reviewed the current plan rate and priceKOHO says rates and pricing vary by plan.The net value stays positive after costsI used the comparison above and checked provider conditions.

0 of 3 fit checks matched.

Continue to the KOHO fit guide Read FCAC savings guidance

Completing the fit check or opening a guide is not an account approval, provider conversion, bonus, revenue or profit event.

Sources and assumptions

Financial Consumer Agency of Canada: savings accounts — compare post-promotion rates, minimum deposits, fees, access and compounding.

KOHO: what interest rate can I earn? and KOHO plan comparison — rates and pricing vary by plan; check the app or current provider terms.

Calculations use monthly periods as an estimate. Provider calculations, transaction timing, tiered rates, minimum balances, fees and tax treatment can differ.

Common questions

What the result does—and does not—mean.

Why is the ongoing rate required?

A promotion covers only part of the year. The remaining months can reverse the apparent advantage.

Why subtract monthly fees?

A higher rate can still lose when its annual fee exceeds the extra interest on your balance.

Is savings interest taxable?

FCAC says interest in a regular savings account is generally taxable. A TFSA estimate avoids the tax haircut but still depends on your eligibility and contribution room.

Does Bremo verify the rates I type?

No. Typed rates are your estimates. Verify current provider terms before making a decision.

Reviewed August 12, 2026. Bremo is independent and may earn a referral fee if a qualifying account is opened through certain links. That does not change the calculator. Results are estimates, not financial, tax or legal advice.