2026 Review
KOHO Spend & Save Review (2026)
Is KOHO worth it in 2026? We break down rates, fees, features, and who this account is really best for.
Quick Answer
KOHO Spend & Save is currently offering 2.00% with no monthly fees. It's best for Canadians who want a simple, no-fuss account with a strong rate and full CDIC insurance.
Current KOHO Rates
Regular Rate
2.00%
Available with KOHO Essential (free) plan or higher. Extra ($12/mo) earns 2.50%, Everything ($14.75/mo) earns 3.50%.
Open KOHO Account →✓ Pros
- ✓No monthly fees or minimum balance
- ✓CDIC-insured deposits
- ✓Unlimited Interac e-Transfers
✗ Cons
- ✗Online/app only — no physical branches
- ✗Variable rate can change anytime
- ✗May require separate account for bill payments
Who Is KOHO Best For?
KOHO Spend & Saveis a strong choice if you're looking to:
- Park an emergency fund at a higher rate than a big bank
- Save for a short-term goal (vacation, down payment, car)
- Hold cash inside a TFSA or RRSP with competitive returns
FAQ
Is KOHO safe?
Yes. KOHO is a CDIC-member institution (or holds deposits at CDIC-member banks). Your deposits are insured up to $100,000 per category per institution.
Is the KOHO rate guaranteed?
No — HISA rates are variable and can change at any time. Only GICs lock in a rate. If you need a guaranteed rate, compare our GIC options.
Can I hold KOHO inside a TFSA?
Check KOHO's current account offerings — many digital banks offer registered account options (TFSA, RRSP, FHSA). Holding a HISA inside a TFSA shelters the interest from income tax.
This is not financial advice. We may earn a commission at no cost to you through affiliate links. Rates are for informational purposes and subject to change. Verify directly with KOHO before opening an account.