Neo Savings Account
Monthly Fee
$0
Promotional interest
Not specified
Welcome Offer
2.00% interest (up to 2.75% with a paid Neo membership: Build $0–9.99/month, Grow $14.99/month)
Account Overview
Neo is a digital alternative to the big Canadian banks. It offers no-fee credit cards and a high-interest savings account.
The Neo Savings account offers an interest rate of up to 2.75% on the entire balance, with no monthly account fee (the Build and Grow memberships cost up to $9.99 and $14.99 per month). The rate no longer depends on your balance: it depends on the Neo membership you hold. To open an account, you must be over 13 years old (14 years old in Quebec).
The main features of the account are as follows:
- No monthly fees or transaction fees
- No minimum balance required
- E-transfers and bill payments available
- Interest rates (based on your Neo membership):
- Essentials membership (free): 2.00%
- Build membership ($0 to $9.99/month): 2.50%
- Grow membership ($14.99/month): 2.75%
Offer & conditions
2.00% interest (up to 2.75% with a paid Neo membership: Build $0–9.99/month, Grow $14.99/month)
Pros & Cons
Pros
- No monthly fee
Cons
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Account Features
- E-StatementNot included
- Included transactionsNot specified
- Unlimited Interac e-TransfersNot specified
Terms and conditions
Up to 2.75% interest
- Your rate depends on the Neo membership you hold: 2.00% with the free Essentials membership, 2.50% with the Build membership ($0 to $9.99/month) and 2.75% with the Grow membership ($14.99/month). The rate applies to every dollar, with no minimum balance; the account itself has no monthly fee, but the Build and Grow memberships cost up to $9.99 and $14.99 per month.
Savings planning and reaching savings goals
- Open up to 10 accounts for all your savings goals, customize account names and icons, and move funds between accounts instantly.
Progress monitoring
- Track multiple savings goals at once in the Neo app and watch your savings grow over time.
Related Accounts
*Conditions apply.
Conditions apply. All information is believed accurate but not guaranteed. Account details, rates, and offers are subject to change at any time. Always verify the latest terms on the institution's website. Faventure may receive compensation through affiliate links. This does not affect our editorial choices or rankings. © 2026 Neo Financial. All trademarks are property of their respective owners.