Finest Financial institution Account Promotions in Canada 2025

At any given time, there are quite a few bonus affords and checking account promo codes obtainable. However how do you resolve which Canadian financial institution promotions are price signing up for? To assist, we’ve put collectively an up to date listing of the highest affords.

These promotions embrace offers from each on-line banks, in addition to conventional brick-and-mortar banks. They cowl standalone financial savings and chequing accounts, in addition to “hybrid” accounts, and the affords vary from no-fee accounts to premium packages.

For a fast comparability, take a look at our “Finest Financial institution Promo Comparability Chart,” which highlights every supply. Under, you’ll discover summaries for every account. Whereas there’s a bonus for everybody, some stand far above the others.

For instance, nobody comes near matching EQ Financial institution’s ongoing rate of interest of 4.00%. Learn on to study extra about this supply, and to entry our useful tricks to information you in selecting the very best account in your particular wants.

Finest Financial institution Promo Comparability Chart

Finest General Worth: EQ Financial institution Private Account

The EQ Financial institution Private account from on-line financial institution EQ (powered by Equitable Financial institution, based over 50 years in the past) is a hybrid account, that mixes the very best options of chequing and financial savings.

Whereas EQ doesn’t supply a conventional debit card, they’ve a pay as you go financial institution card referred to as the EQ Financial institution Card which can be utilized like a debit card. You need to use it to entry money and spend cash each on-line and in-store.

As well as, their free e-transfers, digital funds transfers, and invoice funds nonetheless provide the flexibility of a chequing account.

What makes the EQ Financial institution Private Account stand out, nevertheless, is the truth that you may acquire an ongoing 4.00% rate of interest! 

This comes from a 1.25% base rate of interest, that jumps to 4.00% if you direct deposit your pay of $2,000/month or extra.

Whereas it will not be a promotional charge, it’s like a welcome bonus that retains welcoming you month after month. It’s not going to expire after the time interval for the teaser charge runs out (such because the case with Tangerine’s 4.50% for simply 5 months).

The continued 4% on a regular basis rate of interest is only one purpose why the EQ Financial institution Private Account is our choose for the very best financial savings account in Canada, and why it’s our choose for the very best checking account promo… though it’s not likely a welcome bonus in any respect.

Try our EQ Financial institution Evaluate for all the small print.

Runner Up for Finest General Worth: Neo Cash Account

Neo Monetary is a brand new child on the block having been based in 2019, however they’ve entered the scene on sturdy footing providing industry-leading rates of interest. 

The Neo Cash Account is one other hybrid account and is a powerful runner-up to our high choose, the EQ Financial institution Private Account.

It affords a 3% on a regular basis rate of interest. That is an ongoing rate of interest that means it doesn’t have an expiration date. There aren’t any month-to-month charges and this account affords free transactions and limitless point-of-sale availability so you may go forward and use it as you’ll a chequing account.

Whereas it doesn’t include a debit card, you may get the “Neo Cash Card” – a pay as you go Mastercard that features like a debit card and affords cashback rewards for a lot of completely different classes.

You could be questioning, the place does the Neo Cash Account fall in need of our high choose, the EQ Private Account? Nicely, along with having a decrease rate of interest (3% vs. 4%), it’s missing in a number of areas/merchandise. The Neo Cash Account doesn’t supply USD accounts, GICs, or paper cheques. It additionally has restricted joint account choices. Nevertheless, relying in your particular person wants these will not be a difficulty for you.

Try our Neo Cash Account Evaluate for all the small print.

Tangerine Chequing and Financial savings Account

Tangerine, a digital-only division of Scotiabank, affords prospects no-fee accounts and bank cards, plus aggressive investments, lending, and most of what you’d count on from a extra conventional brick-and-mortar financial institution.

Tangerine account holders have entry to Scotiabank’s ATM community, and their no-fee Visa debit card means that you can make point-of-sale purchases. You possibly can learn extra about Tangerine’s choices in our Tangerine Financial institution assessment.

Tangerine’s present promo contains 3 affords. Benefitting from all 3 requires new shoppers to open each a chequing and a financial savings account, and apply for a bank card:

• Change into a brand new Tangerine shopper utilizing the promo code EARNMORE
• Open a Tangerine Financial savings Account inside 60 days and earn 4.50% curiosity in your financial savings account for five months (after the 5 months are up, rates of interest return to 0.30%).
• Open a Tangerine Chequing Account, swap your payroll deposits for two consecutive months, and earn $250.
• Apply for a Tangerine Cash-Again Credit score Card, and get 10% money again on purchases (for the primary 60 days, as much as $100 cashback).

Finest Chequing Account Promo Presents – Scotiabank Final and Most well-liked Package deal

Scotiabank’s Final and Most well-liked bundle accounts have comparatively excessive charges ($30.95 and $16.95 respectively) however they’re actually so filled with options that they’re price a glance.  Due to all of the options, and the power to waive the month-to-month payment by sustaining minimal balances, they’re really a high contender in our listing of the Finest Chequing Accounts in Canada.

These Scotiabank packages embrace limitless debit transactions, bonus curiosity on a Momentum PLUS Financial savings account, and a free Premium Credit score Card.

Relying on what your financial institution steadiness is in a mean month, the Scotiabank Final and Most well-liked packages might price you nothing. The month-to-month payment is waived in case you preserve a minimal steadiness of $6,000 for an Final bundle or $4,000 for a Most well-liked bundle.

Listed below are the small print for Scotiabank’s promo supply:

• For the $400 bonus, open a brand new Final or Most well-liked Package deal account by April 30, 2025.
• Inside 60 days, full any TWO of the next:
  • Use cellular or on-line banking to make an eligible invoice cost of not less than $50
  • Arrange and clear 2 eligible separate recurring pre-authorized funds of not less than $50 and have them recur month-to-month for not less than 6 consecutive months
  • Arrange and clear one eligible recurring direct deposit, equivalent to a payroll or pension that recurs for six consecutive months
• Bonus shall be deposited in your account inside 6 months
• For an extra $100 bonus, after finishing the above, open a brand new TFSA, RRSP or FHSA (inside 60 days of opening account). Then:
  • Contribute or transfer-in a minimal of $5,000 in your new eligible Registered Account and preserve it for 6 3 consecutive months

You possibly can study extra in our detailed Scotiabank assessment, or enroll utilizing the button beneath.

CIBC Good Account and Good Plus Account

CIBC’s Good account is a primary chequing account with pricing that varies relying on the variety of transactions you want. In the meantime, the Good Plus is a premium all-in-one account bundle that features limitless transactions together with e-transfers, options like overdraft safety and an eligible CIBC bank card.

CIBC’s Good and Good Plus accounts are on the pricier facet (as much as $16.95 for the Good account or as much as $29.95 for the Good Plus account with decrease month-to-month charges for seniors over 65). Nevertheless, charges could be waived in case you preserve a minimal steadiness of $4,000 for the Good Account or $6,000 for the Good Plus Account. With a purpose to obtain CIBC’s $450 money bonus, it’s essential to do the next:

• Open a CIBC Good Account or CIBC Good Plus Account and supply an electronic mail deal with
• Arrange ongoing month-to-month direct deposits which complete $500 or extra
• Throughout the identical calendar month, full ONE of the next duties:
  • Arrange not less than two recurring pre-authorized debits
  • Full two on-line invoice funds of $50 or extra every
  • Full 5 on-line Visa Debit purchases

Your $450 money reward shall be deposited into your qualifying account inside 7 months after the month you opened the account.

RBC Signature No Restrict Banking and RBC VIP Banking

RBC’s Signature No Restrict Banking account is a normal account with limitless transactions in Canada, no minimal steadiness, free e-transfers, and as much as a $48 rebate on the annual payment on varied RBC bank cards. The month-to-month payment is $16.95 though it may be much less with “the Worth Program” rebate (which is basically signing up for extra RBC merchandise and packages).

The RBC VIP Banking account is a premium account that features limitless transactions worldwide, as much as $120 off the annual payment of an RBC premium bank card, and further financial institution accounts, all for a month-to-month payment of $30 (or much less with a rebate).With a purpose to obtain RBC’s promo supply of an Apple Watch Collection 9 it’s essential to:

• Open an eligible account by June 2, 2025
• Arrange and full TWO of the next by August 11, 2025:
  • Your pay or pension as a direct deposit
  • Two pre-authorized month-to-month funds
  • Two eligible invoice funds to a service supplier

Finest Financial savings Account Presents

We’ve already dug into a few featured financial savings accounts which can be price contemplating. Let’s assessment:

EQ Financial institution’s Private Account has all the advantages of a financial savings account with the flexibleness of a chequing account. Its 1.25% on a regular basis rate of interest could be simply elevated to 4% by merely organising your payroll deposits to the account. Better of all, that is an ongoing charge!

Neo Monetary’s Neo Cash Account is one other hybrid account with the utility of each a financial savings and chequing account. It affords an on a regular basis 3% ongoing rate of interest.

Whereas Tangerine has the next promotional charge of 4.50%, it solely lasts 5 months earlier than dropping right down to 0.30%.

Along with these wonderful accounts, there’s yet one more that’s price a glance:

Simplii Monetary Excessive Curiosity Financial savings Account

If EQ, Neo, and Tangerine don’t attraction, you could possibly take into account a Excessive Curiosity Financial savings Account from Simplii Monetary (a web based division of CIBC). This account has no charges or minimal steadiness necessities.

New Financial savings Account holders will obtain a particular promotional charge of three.90% for the primary 5 months. You’ll obtain the bonus curiosity as a lump sum cost on the finish of that point interval. After the promotional interval is over your rate of interest returns to 0.30%-1.50% (0.30% for accounts of $0-$50,000) – which is why we really feel the on a regular basis rates of interest of EQ Financial institution and Neo Monetary make them far superior affords.

For individuals who open a Chequing Account with Simplii, a bonus of $300 could be earned by including an eligible direct deposit of not less than $100 for 3 consecutive months.

For the primary 3 months, additionally, you will obtain 10% money again on eligible purchases together with your Money Again Visa Card. Nevertheless, that is restricted to a spend of $1000.

Learn our Simplii Monetary assessment the place we offer extra particulars and examine it to different Canadian banks.

Which Financial institution Promo Is Proper for You? (Trace: it’s not all the time the largest one)

Though checking account welcome promotions could be priceless ($500 is nothing to sneeze at!), selecting an account based mostly solely on the bonus is dangerous. That’s why it’s vital to make certain the checking account you’re getting is the one which’s best for you, promo supply or not.

We constructed this listing with bonus worth, establishment reliability, and customer support in thoughts. We needed you to have a stable listing of choices to start out from. However you continue to want to contemplate your private scenario earlier than you make your selection

Listed below are some issues to contemplate:

• Do you qualify for the bonus? Most promo affords are geared towards new banking prospects, so be sure you qualify!
• How tough is it to open an account?  Do you want further paperwork? Do you’ll want to go to a department in individual? How onerous will that be for you?
• Does the account provide you with what you want? Do you want level of sale skills, or are e-transfers and invoice funds what you’re on the lookout for? What number of month-to-month transactions are you anticipating? Your solutions could make an enormous distinction through which account will work greatest for you.
• What do you’ll want to do to get the total bonus? As you’ve seen from our listing, many bonus affords require account holders to finish a number of duties. These are fantastic in case you had been already planning to make use of your account for these issues—however what in case you weren’t?
• And what’s the timeline for the total bonus? Will you have the ability to obtain all of the duties inside that timeframe? For those who’re behind schedule, it’ll have been a waste of time!
• Don’t choose an account that wants you to arrange a direct payroll deposit or invoice funds in case you had been planning to make use of it for one thing else completely. Take into consideration why you’re opening this account and what you wish to use it for, after which be certain that your welcome bonus suits that.
• What sorts of charges do the accounts have? A bonus that waives month-to-month charges is tempting, however remember the fact that except you preserve a hefty financial institution steadiness, you’ll should pay these charges ultimately. Is a $30/month account what you want, or would a no-fee checking account do the trick? It additionally helps to skim the fantastic print. Ensure you’re not signing up for hidden further charges with out realizing it!

For those who’re on the lookout for extra details about which account is greatest for you, now we have sources that may assist! Try our posts in regards to the Finest Chequing Account in Canada and the Finest On-line Financial institution in Canada to offer you a stable begin. For those who’re a pupil, we suggest our listing of the Finest Financial institution Accounts for College students.

Canadian Banks Promotions: FAQ

The Finest Financial institution Promo Presents in Canada

Selecting a brand new checking account is about extra than simply the very best bonus supply. Promotional charges are momentary (and a few finish earlier than others!), so it’s vital to choose an account that can fit your long-term wants.

Fortunately, Canada’s banks supply a variety of choices. Whether or not you want a chequing or financial savings account, and whether or not you’re on the lookout for a no-fee choice or prepared to pay for a premium all-in-one bundle, our listing has one thing for everybody.

Gen Y Cash additionally retains an up-to-date listing of the greatest checking account promotions, so make sure to examine there too. Their listing options among the high affords in British Columbia, with unique promotions for residents of the province.

For the very best chequing accounts, we suggest Tangerine, Scotiabank, and CIBC. Whereas Tangerine’s promo rate of interest drops after 5 months, we recognize a low/no-fee financial institution with a variety of product choices. 

Relating to financial savings accounts with the very best on a regular basis rates of interest, EQ Financial institution takes high place with its ongoing 4% rate of interest. The runner-up there’s Neo Cash, with their 3% on a regular basis charge. Whereas different banks might supply larger curiosity, their charges are likely to drop beneath 1% after a number of months. 

Whereas not technically a promotion, EQ Financial institution takes the highest spot for the very best Canadian checking account promotion due to its excessive ongoing rate of interest and low charges.