RateBuddy Top Pick Chequing Account CAD CDIC Eligible

KOHO

KOHO Essential Plan

A hybrid everyday spending account and prepaid Mastercard. Earn cash back and interest on your balance with no standard monthly fees when minimum deposit rules are met.

Interest rate 2%

Monthly fee No monthly fee

Transactions Unlimited

Minimum deposit $0

CURRENT OFFERS

Promotions and account value

Welcome offer

RateBuddy Exclusive Offer: New KOHO members can earn 5% interest for 3 months with promo code RB5S26. Up to $100 interest earned; eligible transactions only. After the promo period, continue earning 2.00% interest, plus 1% cash back on groceries, transportation, food & drinks. Terms apply.

EARNINGS

Rates and interest details

Rate option 1 2%

COSTS

Fees and account limits

Monthly feeNo monthly fee

Fee-waiver balanceNot listed

Minimum deposit$0

Maximum depositNot listed

Included transactionsUnlimited

Bundled productNo

ACCOUNT EXPERIENCE

Features and benefits

Early Payroll Direct Deposit

Cash Advance up to $250

No Foreign Transaction Fees

Earn interest

Discount on Credit Building

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.

Access to Rent Reporting

Access to Tenant Insurance

Free Credit Report

Free Credit Score

Free Interac e-Transfers

Crypto trading fees

Online and Mobile Banking

No minimum deposit requirements

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

COVERAGE

Registration, networks and availability

Registration options

NONREGNon-Registered

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 Aug 1, 2026.

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