Earn 1.2% interest* on your spending and savings account

Earn interest
Spend & save in one place

Earn 1.2% interest* on your spending and savings account

Earn interest

Yes, you heard that right

With a (free!) KOHO account, you can earn 1.2% interest* on both your spending and savings account, plus 0.5% instant cash back. All you have to do is set up direct deposit.
KOHO Earn Interest App

Tell me everything

Earn 1.2% interest* on your entire account — from your savings to your spendables and everything in between.
Get 0.5% cash back on every purchase. Earn even more with our brand partners.
No fees, no minimum balances, no promotional rates — ever.
You also get unlimited free e-Transfers, so send away.
Up to $100k of your funds are eligible for CDIC protection. In other words, your money is safe with us.

How does KOHO’s account compare to the big banks?

You can earn 0.5% cashback on every purchase and 30x1 more interest with KOHO than with the big banks.
KOHO Budget Planner

2: Adjust what you spend


Account Balance









Cash back








A:KOHO account

B:Big 5 accounts

Spend & Save

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How to set up direct deposit 💳

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Move Money
Set Up Direct Deposit
Start Earning 1.2% Interest






Once you've downloaded the KOHO app, click the dollar sign button.

Got questions? We got answers.

So you’re ready to turn your entire KOHO account into a high interest account? You’ll earn 1.2% interest* on your entire KOHO balance — your Spendables, RoundUps, Savings Goals, all of it. This is an annual rate, which will be calculated daily and paid out monthly to maximize your earnings. Plus, unlike other cards, you can access these earnings at any time!

Don’t worry, the 1.2% interest rate* we offer is not an introductory rate, or a rate that expires. The same rate will be available to all users, new or existing. For transparency, it’s possible that the interest rate could change if the rates made available by our Service Providers change. This could happen, for example, if the Bank of Canada announces an interest rate decrease or increase.

No, your direct deposit does not have to be a paycheque. It can be anything from a government payment to a client invoice.

No, your direct deposit does not have to be regular. You can set it up once and still qualify for the 1.2% earning interest rate*.

Nope, no minimum balance required! All direct deposits are welcome here.

Yes, you can. With KOHO, e-transfers are free and unlimited.

Once you opt into earning 1.2% interest rate*, all direct deposit cash balances in your account will be held in trust at a Canada Deposit Insurance Corporation (CDIC) member institution. CDIC is a federal Crown corporation. CDIC is not a bank or a private insurance company. CDIC protects eligible deposits held at CDIC member institutions (List of Members) in case of a member’s failure. For eligible deposits held in trust at a CDIC member institution, CDIC insures up to $100,000 for each beneficiary named in a trust, provided certain disclosure rules are met. Coverage is available for eligible deposits. For more information on how CDIC trust protection works, click here.

The 1.2% earning interest* applies to the same account you’ve been using. All you have to do is set up a direct deposit. Once you receive your first direct deposit in your KOHO account, click Earn interest to start earning 1.2% interest*. Your other account features (e.g. cashback, account fees for Premium) won’t change.

Nope. There are no account opening, account closing, moving money, or e-Transfer fees. There’s no minimum balance either.

1Based on research conducted by KOHO comparing interest rates of base savings accounts offered by Canada’s ‘Big 5’ banks. Research is based on savings and chequing account interest rates taken from public websites as of May 10, 2021. Promotions and Rate Premiums are excluded.
All interest-bearing accounts are offered by Canadian ShareOwner Investments Inc
*Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice




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