Neo offers Quebec a more rewarding choice with a stable 4% high-interest savings rate on every dollar saved

Neo HISA offers Quebec’s highest base interest rate on a savings account¹, with no temporary promotional rates and no minimum deposits.

MONTRÉAL--(BUSINESS WIRE)--Neo Financial™ (Neo), a leading Canadian financial technology company, is helping Quebec customers make their savings goals a reality with a new 4% high-interest savings rate² and smart, interactive digital tools to grow their money.

Unlike competitors promising high promotional interest rates that don’t last, the Neo High-Interest Savings account (HISA) offers 4% interest² with no limited-time offers, no monthly fees, and no minimum deposit — plus intuitive tools and real-time insights to help customers reach their savings goals sooner.

With the Neo HISA, customers in Quebec will enjoy:

• A great stable interest rate: The Neo HISA’s stable rate of 4%² means customers will earn more than double the base interest of the leading competitors¹, with no minimum deposit. Choosing the Neo HISA pays off over time, as competitors’ promotional rates fall away.
• Savings made simple, goals made possible: Using the Neo app, customers can save smarter with multiple high-interest accounts, customized for their unique needs and goals — making it easier than ever to track spending habits, build a healthy budget, and save up for what matters most.
• No monthly fees and no gimmicks: The Neo HISA comes with no monthly fees and no temporary promotional rates — just stable, rewarding returns on every dollar saved.
• Security and peace of mind: Neo HISA customers enjoy eligibility for CDIC deposit protection on their deposits up to $100,000³.

“At a time when Quebec residents are working harder than ever to make ends meet, the Neo High-Interest Savings account is here to help customers get more value out of every dollar — empowering them to grow their money and save up for a rainy day, a well-deserved vacation, or buying a home,” said Andrew Chau, Neo’s Co-founder and Chief Executive Officer. “With products built on transparency, simplicity, and a more rewarding experience, we’re proud to be helping customers in Quebec take control of their financial future and feel more secure in tough times.”

Apply for the Neo High-Interest Savings account here.

About Neo Financial

Neo Financial is a technology company building a more rewarding financial experience through reimagined spending, savings, investing, and mortgages. Founded in 2019 by the co-founders of SkipTheDishes, Neo has raised more than $299 million in funding and has been recognized as Canada’s top tech startup by LinkedIn. Neo is headquartered in Calgary and Winnipeg, and is backed by top-tier investors across North America.

Through partnerships with leading financial institutions, Neo provides members with safe and secure ways to spend (Neo Credit), save (Neo Money™), and invest (Neo Invest™). Neo for Business powers financial solutions for Tim Hortons, Hudson’s Bay, Cathay Pacific, and over 12,000 other partners across the country. To learn more, visit neofinancial.com.

Disclaimers

The Neo High-Interest Savings account is provided by Peoples Bank of Canada.

¹ Based on research of high-interest savings accounts, comparing and limited to: BMO, CIBC, Scotiabank, TD Bank, RBC, Simplii Financial, Desjardins, and Tangerine. Research conducted by Neo Financial and based on data taken from public websites on November 28, 2023. Research excludes welcome offers.

² Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.

³ The Neo High-Interest Savings account is provided by Peoples Bank of Canada, a CDIC member institution, and is eligible for CDIC deposit protection. Deposits held in Neo High-Interest Savings accounts are combined with eligible deposits held at Peoples Bank of Canada, for up to $100,000 of deposit protection, per category, per depositor. For more information about CDIC deposit insurance, please consult CDIC’s website cdic.ca.