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Email this8:02 am
May 15, 2007
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$0 - 4,999.99: 2.25%
$5,000 - 19,999.99: 2.50%
$20,000+: 2.90%
6:28 am
November 8, 2018
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Thanks for the info. I have account with Neo but I have received no communications from them on tiered rate. Had to look for it on Neo web site.
How does Neo Savings tiered rate works: if for example I have $30,000 deposited, will all $30K get 2.9% interest rate, or only $10K?
7:32 pm
September 28, 2023
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That is a pretty massive change to not notify clients about. Fortunately, we have Peter 
Their FAQ and legal say 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. which doesn't really solidly define whether the rates are applied in tiers, or the highest rate on entire balance.
Cmon Neo, communicate.
11:06 pm
April 6, 2013
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The communication is not great. Reminds me of those brain twisters from Lewis Caroll's Alice's Adventures in Wonderland and Through the Looking-Glass!
There are now two Neo savings account offerings:
- Neo High-Interest Savings account
- Neo Cash account
The Neo Cash account is marketed as 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 [Neo Savings] 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.
This is from the Account interest rates page:
Rates current as of Sept 15 2025
Neo Savings account
2.9%*
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.
The Neo Cash account legal agreements are at Legal and privacy:
2:34 pm
March 24, 2015
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Okay so based on above, highest rate applies to entire balance? Can anyone confirm?
10:41 am
January 2, 2025
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What is the maximum that they will pay 2.90% on?
6:32 pm
May 18, 2022
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ddsdude said
What is the maximum that they will pay 2.90% on?
From the website, it appears to be a maximum balance of $200,000 in each account.
Note: They say elsewhere on their site that they're phasing out their High-Interest Savings account.
https://support.neofinancial.com/hc/en-001/articles/26426328891405-CDIC-deposit-protection-for-Neo-Money-accounts
6:52 am
November 8, 2018
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If you close your Neo HISA, you won't be able to open it again. They are replacing Neo HISA with Neo Cash, which has same tiered rates.
Just make sure you read small print.
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.
Please write your comments in the forum.