Neo Savings Account
Monthly Fee
$0
Regular Rate
2.25%
Annual 2.25% rate with free Essentials. Under Neo’s October 29, 2026 grid: Start 2.50%, Build 2.75%, Grow 3.00%. Standard monthly membership fees: Start $4.99, Build $9.99, Grow $14.99. Conditional no-cost eligibility must be checked in the app. The account itself has no monthly fee; memberships are separate.Rate as of · Checked · Institution source
Account highlights2.25% with free Essentials; up to 3.00% with Grow (standard $14.99/month fee). Other memberships and conditions are detailed below.
2.25% with free Essentials; up to 3.00% with Grow (standard $14.99/month fee).
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 3.00% on the entire balance, with no monthly account fee (standard monthly membership fees: Start $4.99, Build $9.99, Grow $14.99; conditional no-cost eligibility may apply). 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
- Rates depend on your membership: Start offers 2.50% for a standard $4.99/month. Other memberships:
- Essentials membership (free): 2.25%
- Build membership (standard $9.99/month fee): 2.75%
- Grow membership ($14.99/month): 3.00%
Account highlights
2.25% with free Essentials; up to 3.00% with Grow (standard $14.99/month fee). Other memberships and conditions are detailed below.
Pros & Cons
Pros
- No monthly fee
- Competitive interest rate (2.25%)
Cons
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Account Features
- E-StatementNot included
Terms and conditions
Up to 3.00% interest
- Your rate depends on your Neo membership: free Essentials at 2.25%; Start at 2.50% (standard $4.99/month fee); Build at 2.75% ($9.99/month); Grow at 3.00% ($14.99/month). These rates follow the October 29, 2026 grid, consulted October 30. The account itself has no monthly fee; membership charges are separate. A no-cost membership may be available under conditions: check eligibility in the Neo app. The rate applies to every dollar, with no minimum balance.
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.
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*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. Ratesopedia 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.