*Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice.

So let’s say you have $1,000 at KOHO, you sign up to earn 3% interest (interest rate could vary depending on your account), and you leave your $1,000 for 365 days.

Depending on your account type, if your interest rate is 3%, that means you will receive approximately $30 for the year (3%*1000). Keep in mind that interest is calculated daily and paid out monthly on the 6th. Therefore, you will receive approximately $2.50 monthly, which is expressed as the following (using January as an example): (31/365)*$30 = $2.50.

Each month you will receive slightly more interest, thanks to the monthly compounding 💸

The interest is earned on your entire KOHO balance - so this includes Vault!

Your interest will come in as a payment on the 6th of the month, but will be posted-dated to the 3rd on your transaction feed.

Yes, and you will likely have to pay income tax on the interest you earn from this feature. Each year, we will send you a return of investment income slip (T5) to be submitted along with your personal income tax return. A T5 shows how much investment income you earned for a given tax year.

You can also review the interest you earned each month by going to your statements. In order to view your statements, just open your KOHO app, tap on the profile icon in the upper left corner (or Joint, depending on which account you're currently viewing) and tap on Monthly Statements!

*Just a heads up, Earn Interest is only available for Personal Accounts. In order to enjoy these benefits, be sure you're using your Personal card!*