KOHO Earn Interest
As of October 22, 2026, the KOHO Earn Interest pays 3.50% interest on savings.
CDIC insuredRates verified October 22, 2026
Calculate your KOHO interest
Conditions: Everything plan ($14.75/mo) pays 3.50%; Extra ($12/mo) pays 2.50%; free plan pays 2.00%
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Key account terms
A fintech app offering cash back on spending and interest on your balance.
- Monthly fee
- $0 (Base)
- Minimum deposit
- $0
- Transactions
- Unlimited
- Transfer speed
- 1-3 Days
Pros and considerations
What we like
- Combines spending and saving
- Cash back rewards
- Early payroll access
- User-friendly app
Watch out for
- Some high-tier features cost monthly fees
- Not a bank (money held at Peoples Trust)
- Prepaid card acceptance issues
Frequently Asked Questions
Everything you need to know about KOHO's savings rates, terms, and account features.
Is KOHO a bank?
No, KOHO is a fintech company. Your funds are held by Peoples Trust, a CDIC member.
Does it cost money?
The basic plan is free, but they offer paid tiers for higher interest and cash back.
Is KOHO deposit-insured and safe?
Yes. With KOHO, eligible deposits are insured up to $100,000 per category by the Canada Deposit Insurance Corporation (CDIC). This protection guarantees that your principal deposit and accumulated interest remain safe against institutional failure.
How is interest calculated and paid on the KOHO Earn Interest?
Interest is calculated daily based on your account's closing balance and deposited directly into your balance on the final business day of each month, compounding your yield monthly.
Can I withdraw my money from KOHO at any time?
Yes. Unlike a GIC (Guaranteed Investment Certificate) which locks in funds for a predetermined duration, this high-interest savings account offers complete liquidity. You can transfer money out at any time without penalty or loss of earned base interest.
How is interest earned at KOHO taxed in Canada?
In non-registered accounts, interest earned is treated as regular taxable income by the Canada Revenue Agency (CRA). KOHO will issue a T5 tax slip if your annual interest exceeds $50 (or upon request for lower amounts). If held inside a TFSA, interest is 100% tax-free.
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