Savings made simple
Make your goals possible. Easily track progress and grow your money with 3.00% interest.¹
Open Account
Fast-track your savings
Here are a few ways we bring your goals closer.All of the savings. None of the bull.Earn 3.00% every day with no limited-time offers, no minimum deposits, or commitments required.¹
Track your goals to reach them fasterPersonalize up to 10 accounts with custom names, icons, and amounts for each goal. Whether it’s a vacation or an emergency fund, you’ll accomplish them sooner.
Move your money freelyManage your money instantly between multiple accounts on the Neo app. Connect an external bank account and make money transfers between institutions a snap.
Have questions about HISAs?
Read everything you’ll need to know about our High-Interest Savings accounts
Got questions?
We’ve got answers.
Do I need a minimum deposit or balance on my account?
No—you get to save every bit possible, so you can focus on knocking off your financial goals and setting new ones. It's a savings account after all.
How do you calculate interest?
Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice. Earn 3.00% interest on your entire balance, no matter if you're a new or an existing member.¹ Neo offers one of the highest rates in Canada, and it's not an introductory or promotional rate.²
Is my money insured?
The Neo High-Interest Savings account is provided by Peoples Bank of Canada, a CDIC member institution, and is eligible for CDIC deposit protection. Deposits held in Neo High-Interest Savings accounts are combined with eligible deposits held at Peoples Bank of Canada, for up to $100,000 of deposit protection, per category, per depositor. For more information about CDIC deposit insurance, please consult CDIC's website cdic.ca.
How do I open a High-Interest Savings account with Neo Financial?
You can get a Neo High-Interest Savings account in less than three minutes. You just need to be over 13 years old (14 in Quebec) and have a Canadian SIN. When your application for a Neo High-Interest Savings account is approved, you can add funds to start earning interest right away! Create a profile to start saving from a Neo High-Interest Savings account.
Do you have a monthly fee?
You shouldn't have to pay to save money. That's why the Neo High-Interest Savings account has no monthly fees. Every dollar you deposit goes directly into earning interest and growing your money.
Do you charge a fee for moving funds?
No, we don't charge a fee for moving funds. You can transfer funds into your Neo HISA to grow your money quicker or move money into your Neo Everyday account to make transactions. Learn more about sending an INTERAC e-Transfer®, paying bills, or completing other transactions with a Neo Everyday account.
When do I earn interest in my HISA?
Interest is calculated daily based on your total closing balance and paid at the start of the following month. You earn compound interest in your HISA, calculated from your principal and accumulated interest.
How much interest will I earn in my Neo HISA?
The interest you earn is based on your account balance and interest rate. You earn more interest if you start saving earlier and make regular deposits into your account. Understanding how much interest you can earn helps with budgeting and financial planning. Log in to your account to see how much interest you earn and use our smart tools to track your savings.
¹Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.² Based on research of high-interest savings accounts, comparing and limited to: BMO, CIBC, Scotiabank, TD Bank, RBC, Simplii Financial, and Tangerine. Research conducted by Neo Financial and based on data taken from public websites on November 27, 2023. Research excludes welcome offers.Account only available to Canadian residents. You must be at least 13 years of age if you reside outside of Quebec; if you reside in Quebec you must be at least 14 years of age.The Neo High-Interest Savings account is provided by Peoples Bank of Canada.