High-interest accounts might offer better rates, but they typically require you to split off funds from your chequing account — and transferring funds can get old.
If you want a flexible middle-ground account where you can earn 1.2% interest on every dollar you save and earn cash back whenever you use your debit card, take a look at the (totally free) KOHO Save account.
Maximize your annual savings
KOHO Save combines the convenience of a chequing account and the perks of a high-interest savings account, with no monthly fees or minimum balance.
Every time you spend using your KOHO card you’ll earn 0.5% cash back, and for every dollar in your account you’ll earn 1.2% interest.
The interest you earn is calculated daily and paid out directly to your account every month.
Many high-interest accounts offer teaser rates that drop after a few months, but KOHO Save’s interest rate doesn’t ever expire, and the same rate is available to every single KOHO customer.
That’s it. No catch, just free money piling up through savings and cash back.
Improve your financial well-being
Sponsored
Good credit is important for your financial health, and Borrowell can help you take a turn for the better. Sign up for Borrowell to get your credit score and credit report for free!
Sign upHow to start earning free money today
If you already have a KOHO account, just opt into the KOHO Save feature by following the prompt in your mobile app and entering your SIN for tax purposes only.
You’ll still be able to access the funds in your account like you normally do — only now you’ll earn 1.2% interest on your entire balance.
If you’re not currently a KOHO user, it only takes a few minutes to sign up for a free KOHO account and instantly create a KOHO Save account as well.
Saving shouldn’t be complicated, and it definitely shouldn’t cost you anything. So keep things simple with a KOHO Save account and start earning free money today.
Sponsored
You're 5 minutes away from the best mortgage
Searching for your perfect mortgage shouldn’t be hard.
Homewise is an online brokerage that will negotiate on your behalf with more than 30 big banks and other lenders, completely free, and it only takes five minutes to apply.
If you're in the market for a new mortgage, or if you're looking to refinance before interest rates rise again, go to Homewise now and answer a few simple questions to get started.