The Neo Savings account offers one of Canada’s top interest rates. You can unlock higher savings rate by getting a Neo membership.
How Neo Savings rates work
Unlock higher rates with a Neo membership
The rate for Neo Savings accounts is determined by which Neo membership you have. Different memberships unlock different savings rates. You can get the highest rate by subscribing to the Grow membership.
You’ll earn the same rate across all your Neo Savings accounts. To help you organize your savings, you can open up to 10 Neo Savings accounts.
Here's more information about how Neo's memberships work.
Tip: Here are the latest rates for all of Neo's accounts, including the Neo Savings account.
Neo Savings rates for joint accounts
If you have a joint Neo Savings account, the account earns the highest rate available to either account holder.
This means if one person has a higher membership, the joint account earns that rate too.
Neo Savings vs. Neo Cash accounts
You may see your Neo Savings account listed as the Neo Cash account in the app or on statements.
They’re the same account—Neo Savings is simply the name we use in the app while Neo Cash account is the legal name.
Transition from the Neo High-Interest Savings account
We’re phasing out the Neo High-Interest Savings Account (HISA) and replacing it with the Neo Savings account.
Nothing will happen to your HISA funds—they’ll stay secure and continue to earn interest. However, all new features and updates will be available only through the Neo Savings account going forward.
Higher interest rates are only available with the Neo Savings account (and not the Neo High-Interest Savings account).
FAQ about Neo Savings rates
How are my earnings paid?
How are my earnings paid?
Earnings are calculated daily and paid monthly into your Neo Savings account.
Do I need to move my money from my Neo High-Interest Savings account?
Do I need to move my money from my Neo High-Interest Savings account?
No. Your HISA balance remains safe and continues to earn interest, but new savings features will only be available in the Neo Savings account.
How do joint accounts affect the rate?
How do joint accounts affect the rate?
A joint Neo Savings account earns the highest rate available to either account holder. If your account co-owner is eligible for a higher Neo Savings rate, then the joint account will earn that rate too.
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