Earn 2.9%* interest to grow your savings.
Reach your savings goals faster
* Earnings for the Neo Cash account are derived from the interest Neo earns on the funds. Neo shares interest at the advertised rate of return for the Neo Cash account, and earnings are calculated daily on the total closing balance paid monthly. Rates are per annum. Minimum combined balances across Neo Cash, Neo Everyday, and Neo High-Interest Savings accounts required to earn boosted rates, which will only be applied and paid to your Neo Cash 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. See the Neo app for details.
¹ Based on research of an initial balance of $20,000 in high-interest savings accounts, comparing and limited to: BMO, CIBC, RBC, Scotiabank and TD Bank over a 12 month period. Research conducted by Neo Financial and based on data taken from public websites on October 21, 2025. Research includes promotional offers with a term of 0-4 months.
Rate comparisons based on research of high-interest savings accounts, comparing and limited to: BMO, CIBC, RBC, Scotiabank and TD Bank over a 12 month period. Research conducted by Neo Financial and based on data taken from public websites on October 21, 2025. Research excludes promotional offers.
The Neo Cash account is offered by Neo Financial Technologies Inc. (“Neo”), a FINTRAC-registered money services business. The funds added to Neo Cash accounts are ultimately held securely in trust in the name of the primary account holder with one or more member institutions of the Canada Deposit Insurance Corporation (“CDIC”). Neo is not a CDIC member institution; however, eligible funds held in trust are insured by CDIC for up to $100,000 per beneficiary, per member institution in the event of a member institution’s failure, provided certain disclosure rules are met. Funds are settled with any CDIC member institution within three business days of the funds being reflected in your account. Neo appointed Olympia Trust Company as the Trustee to hold funds in the Neo Cash account in trust.
All product and company names, logos, brands, and images are trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
EN / FR
No monthly fees
Start saving in less than 5 minutes
Featured in:
Earn 2.9%* interest to grow your savings.
Join the 1.3+ million Canadians who already put their trust in us.
Rated 4.8/5 on the app stores
Your money is safe with Neo.
CDIC
Next-gen security
Neo is a Canadian company, and funds held in the Neo Savings account are eligible for CDIC insurance.
Neo protects your money with bank-grade encryption, biometric login, and active fraud monitoring.
Multi-factor authentication
Purchases, transactions, and account activity are verified in real time—not just when you log in.
Security notifications
Get instant notifications for purchases and money movements. Transparency means you can spot issues sooner.
Legal stuff
Have a question?
Here’s some common questions about the Neo Savings account.
What’s the Neo Cash account? How is it related?
They are the same account. The legal name for Neo savings is the Neo Cash account. We plan to continue to enhance the Neo Cash account to provide more features.
What's the difference between this account and the Neo High-Interest Savings accounts?
Neo savings is the new version of the Neo High-Interest Savings account. You can no longer open new Neo High-Interest Savings accounts, but any existing accounts aren’t impacted.
Do I need a minimum deposit or balance on my account?
No—you get to save every bit possible, so you can focus on knocking off your financial goals and setting new ones. It's like a savings account, after all.
Is my money insured?
Yes, funds are eligible for CDIC protection.
The Neo Cash account is offered by Neo Financial Technologies Inc. (“Neo”), a FINTRAC-registered money services business. The funds added to Neo Cash accounts are ultimately held securely in trust in the name of the primary account holder with one or more member institutions of the Canada Deposit Insurance Corporation (“CDIC”). Neo is not a CDIC member institution. However, CDIC will protect up to $100,000 per beneficiary, per member institution, in the event of a member institution failing, provided certain disclosure rules are met. Funds are settled with any CDIC member institution within three business days of the funds being reflected in your account.
How do I open a savings account with Neo Financial?
You can get a Neo Savings account in less than three minutes. You just need to be over 13 years old (14 in Quebec) and have a Canadian SIN. When your application for a Neo savings account is approved, you can add funds to start earning right away! Create a profile to start saving with a Neo savings account.
Do you charge a fee for moving funds?
No, we don't charge a fee for moving funds. You can transfer funds into your Neo savings account to grow your money quicker or get a Neo Everyday account to send or receive Interac e-Transfer® payments and pay bills.
How does interest work with the Neo savings account?
Neo shares interest earned at the advertised rate of return for this account, which is derived from the interest earned by Neo on the funds. Earnings are calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
How much can I earn?
The earnings from your account are based on your account balance and rate of return. Log in to your account to see how much you earn and use Neo’s smart tools to track your savings.
How does a joint savings account work?
Your combined balance also helps you earn higher interest rates on your Neo Savings Account balance faster. Keep in mind that co-owners can’t be removed once the account is set up — if you no longer want to share the account, it must be closed permanently. Please review the Neo Client Agreement for full details.
Neo Savings account
This is how our 2.9%* rate beats a flashy promo rate.
Traditional Banks1
Traditional Banks1
2.9%
2.9%
Starting rate
3.89%
3.89%
Starting rate
When the flashy promo rates expire
2.9%
$587.47
0.4%
Interest earned (12 months)¹
$587.47
2.9%
$255.80
0.4%
$255.80
When the flashy promo rates expire
Interest earned (12 months)¹
The more you save,
the more you earn.
$0 - $4,999.99
2.25%
$5,0000 - $19,999.99
2.50%
$20,000 +
2.90%
$0 - $4,999.99
$5,000 - $19,999.99
$20,000+
Save together and earn more.
Open a joint Neo Savings account to combine balances and reach higher interest rates faster.*
- One account, two account holders
- Full visibility and control for both
- Interest paid monthly to the shared balance
- Rates grow automatically as your balance increases
Save together and earn more
