On October 29, 2026, we increased the interest rates for Neo Savings. The rates for the Neo Chequing and Neo Everyday accounts will change to 0% on November 5. The changes were automatic—you don't need to do anything.
What changed with Neo Savings
The interest rate on your Neo Savings account increased.
Here are the new rates¹. Your rate depends on your membership.
Membership | Old rate | New rate |
Essentials | 2.00% | 2.25% |
Build | 2.50% | 2.75% |
Grow | 2.75% | 3.00% |
Why this rate changed
Neo Savings rates are influenced by the broader Canadian economy, the Bank of Canada’s benchmark interest rate, and other factors we consider. Following the Bank of Canada’s 0.25% increase on October 28, we’ve raised Neo Savings rates so your savings can earn more.
What changed with Neo Chequing and Neo Everyday
The interest rates for Neo Chequing and Neo Everyday accounts will change from 0.1% to 0% on November 5, 2026.
Why this rate changed
We're setting the Neo Chequing and Neo Everyday rates to 0% to simplify everyday spending.
Neo Chequing and Neo Everyday accounts are built for spending and payments. Neo Savings is built to earn interest. You can use automations (like Auto-Save and Auto-Refill) to help move money between your accounts and make the most of your savings.
Do I need to do anything?
No. Rate changes are automatic. Your Neo Savings, Neo Chequing, and Neo Everyday accounts will keep working as usual.
¹ 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. Current rates available here. Rates are per annum and subject to change without notice.