RateBuddy’s Choice for Canadians seeking a no-fee account combining spending, saving, cashback and credit-building—without direct deposit or a minimum balance. KOHO Core includes credit-score monitoring, prepaid Mastercard access and built-in savings and budgeting tools. Terms apply.
**No-Fee Everyday Banking with Unlimited Transactions + Get a $40 Welcome Bonus**
Chequing Account
CAD
CDIC Eligible
KOHO
KOHO Core Account
KOHO Core is a free everyday spending and savings account that combines cash back, interest and permanently free credit-building tools. It has no monthly fee, direct-deposit requirement or minimum-balance requirement and includes a prepaid Mastercard for everyday purchases.
Interest rate
2%
Monthly fee
No monthly fee
Transactions
Unlimited
Minimum deposit
$0
CURRENT OFFERS
Promotions and account value
EARNINGS
Rates and interest details
Rate option 1
2%
COSTS
Fees and account limits
Monthly feeNo monthly fee
Fee-waiver balance$0
Minimum deposit$0
Maximum depositNot listed
Included transactionsUnlimited
Bundled productNo
ACCOUNT EXPERIENCE
Features and benefits
Access up to $500 cash advance with Cover bundle
Earn interest
No Monthly Fees
Eligible for CDIC Protection
Indicates that eligible funds or deposits may qualify for CDIC protection through a CDIC member institution, subject to CDIC limits and conditions.
Free everyday transactions
Free Interac e-Transfers
Unlimited Transactions
No minimum balance
Online and Mobile Banking
Online and Mobile Banking
Apple Pay Support
Google Pay Support
No minimum deposit requirements
eStatement and eNotifications
WHO CAN APPLY
Eligibility and access
Minimum ageNot specified
AvailabilityAvailable nationally
Mobile appYes
Online bankingYes
Branch accessNo
CDIC Eligible: Indicates that eligible funds or deposits may qualify for CDIC protection through a CDIC member institution, subject to CDIC limits and conditions.
Students
Youth
Seniors
Newcomers
REPUTATION
Ratings and reviews
Ratings may be collected from different sources and at different times. Review the provider’s current terms and independent feedback before applying.
IMPORTANT INFORMATION
Terms and disclosures
Rates, fees, eligibility requirements and promotional terms can change. Confirm all current details directly with KOHO before opening the account.
Product information last reviewed or updated Oct 13, 2026.