Earn 1.2% interest* on your spending and savings account
Earn interest
Earn 1.2% interest* on your spending and savings account
Earn interestYes, you heard that right
Tell me everything
How does KOHO’s account compare to the big banks?
2: Adjust what you spend
Spend
Account Balance
$30,000
Annually
$20,000
Annually
$240.00
Interest
$150.00
Cash back
Total
$390.00
$10.00
Interest
-$131.00
Fees
A:KOHO account
B:Big 5 accounts
What our users are saying
How to set up direct deposit 💳
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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.