On June 24, 2026, the interest rates for the Neo Savings account changed. Your current rate depends on your account balance, so check your account for your rate. No action is needed—the new rate applies automatically.
Neo Savings interest rates (as of June 2026)
If you have a Neo Savings account, your rate depends on your account balance. The more you save, the higher your rate. You can also increase your rate by upgrading your Neo membership.
Here are the new rates (as of June 24, 2026):
Balance | Old rate | New rate |
$20,000+ | 3.00% | 2.75% |
$5,000 to $19,999.99 | 2.50% | 2.50% (no change) |
$0 to $4,999.99 | 2.25% | 2.00% |
Terms and conditions for the rates: Earnings for the Neo Savings account are derived from the interest Neo earns on the funds. Neo shares interest at the advertised rate of return for the Neo Savings account, and earnings are calculated daily on the total closing balance and paid monthly. Interest earnings are paid at Neo’s discretion. Rates are per annum. Minimum combined balance across Neo Savings, Neo Chequing, Neo Everyday, and Neo High-Interest Savings accounts required to earn boosted rates, which will only be applied and paid to your Neo Savings account balance. The minimum combined balance required to qualify and the corresponding rates are subject to change without notice. Balances in Neo Invest are not included in the increased rate calculation.
Why did the savings rates change?
We review our rates from time to time to keep Neo Savings sustainable over the long term while still offering strong value. Even with this change, Neo Savings remains one of the best savings rates in Canada.
What stays the same
The only thing that changed on June 24, 2026 was the savings rates. The way your Neo Savings account works doesn't change. You still get:
Interest on every dollar
No monthly fees
No lock-in periods (you can move your funds anytime)
The more you save with Neo, the higher your rate.
What you need to do
Nothing. The new savings rate applies to your account automatically as of June 24, 2026. You'll keep earning interest, calculated daily and paid monthly.