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.
How 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.
Automatically apply coupon codes for free - it’s kinda genius
Capital One Shopping’s browser add-on automatically applies coupon codes as you shop online. It also alerts you whenever there's a better deal available from another retailer. It’s absolutely free – plus it takes only two clicks to install.
Add the Capital One Shopping browser extension today and start earning discounts of up to 50% on the things you already buy. Your bank account will thank you