Choose Extra if you like the sound of:
1.5% cash back on groceries, eating & drinking, and transportation
0.25% cash back on all other purchases
4% interest on your entire balance
No FX fees
Credit Building for $7 / month instead of $10
Free Credit Score
Instant e-Transfers
Unlimited Transactions
Up to 5% extra cash back at selected merchants
Up to $100K of your money earning interest is protected by CDIC
Don’t just take our word for it
"I am a new comer to Canada and I know how important credit score is, in just the short few months of using flexible credit building I have a good credit score to almost excellent."
— Romesha
"I absolutely love it. Highly recommend. Easy & simple way to restore your credit score. With some time and discipline in months I’ve gained 57 points."
— Patrick
"I’m saving for fertility treatments to be able to have a baby as a single woman. Using KOHO allows me to split up the different costs involved. I’m hoping to welcome my baby into the world in 2024!"
— Joanna
With every plan you can
Shop securely online with a virtual card
Build your credit history with Credit Building
Save on the app with features like RoundUps, Savings Goals and, Vaults
Pick a plan and try it with no cost
All KOHO plans come with a free 30 day trial so you can see if it suits you.
Essential
Earn more on the essentials your wallet cares about.
1% cash back on groceries, transportation, food, and drink
3.5% interest on your entire balance
Free Credit Score
Instant e-Transfers
Discount on Credit Building
No foreign transaction fees
FAQS
The Canada Deposit Insurance Corporation, or CDIC, is a Crown Corporation that provides deposit insurance to banks and financial institutions like KOHO. It insures Canadians' deposits, held up to C$100,000, in case of a bank failure. Once you opt-in to earn interest, you can rest assured your money is safe with us.
The Credit Building feature is available as an add-on across all plans — on the Extra plan you can sign up for an extra $7 instead of the usual $10. You simply take out a line of credit with KOHO and on time repayments build your credit history which can build your credit score.
Cash back on transportation includes things like your transit card top-up, train or bus ticket, gas purchases, Ubers or Lyfts, and more. It’s worth noting, a flight purchase doesn’t qualify as transportation as it’s typically categorized as travel.
You sure can. If you want to switch to another plan you can do it at the end of your next billing cycle in the app. You can find a bit more on this here.
Once you sign up for Extra you’ll need to opt in on the Interest page in-app to start earning on everything in your spending and savings account. 4% is an annual rate that’s calculated daily and paid out monthly o maximize your earnings. Once you choose to opt in, you’ll start earning right away.