What is the biggest bank account bonus in Canada right now?

As of Oct 19, 2026, the largest advertised bank bonus we track is Scotiabank's, up to $1,000 cash on a Preferred or Ultimate Package, ending Oct 29, 2026. The full amount needs a savings account and an eligible credit card as well as chequing.

Which bank bonus is easiest to get?

For a no-fee account, Simplii's $350 offer asks for recurring direct deposits totalling $100+ a month for 4 consecutive months. For students, CIBC's $125 offer needs only 5 eligible Visa Debit purchases within 60 days. Always confirm the terms.

Do I have to pay a monthly fee to get a bank bonus?

Not always. Simplii and Tangerine offer bonuses on no-fee chequing accounts. The larger big-bank bonuses usually require a premium package with a monthly fee unless you keep a minimum balance.

Are bank account bonuses taxable in Canada?

They may be. Treatment can depend on your circumstances, so check with a tax professional. This is general information, not tax advice.

Best bank account bonus in Canada right now: which fits you?

Which bank account bonus is best for you right now?

Last checked: Oct 19, 2026. Bonus amounts and requirements come from each institution's own terms; confirm before applying.

Our full ranking sorts every bank bonus by its biggest advertised number. That is useful, but the biggest number is not always the best bonus for you. The headline amount usually needs a premium account with a monthly fee, a direct deposit you may not be able to move, and sometimes a credit card. This guide sorts the same live offers by situation instead.

If you want the most cash and can meet bigger requirements

Scotiabank: up to $1,000 cash on a Preferred or Ultimate Package. $700 of that comes from the chequing account with a recurring direct deposit and one qualifying transaction within 60 days; the rest needs a Money Master Savings account and an eligible credit card. Ends Oct 29, 2026.
BMO: up to $900 on a Performance or Premium Plan ($150 on the Practical Plan). The top amount includes $150 that needs $10,000+ in a Savings Amplifier account held for months. Ends Nov 2, 2026, and accounts must stay open until Nov 2, 2027.
CIBC: up to $850, of which $500 is cash for a Smart Account with a $500+/month direct deposit and a few transactions. The rest depends on credit cards. No end date stated.
TD: $500 cash for eligible chequing plus two qualifying activities, up to $650 with a savings account and TD credit card. Ends Nov 2, 2026.

Premium packages carry monthly fees unless you keep a minimum balance. Before you choose one, subtract the fees for the months you will hold it from the bonus.

If you want a no-fee account and a simple requirement

Simplii Financial: $350 cash on the No Fee Chequing Account. Within 150 days, set up recurring direct deposits totalling $100+/month for 4 consecutive months. Ends Jan 31, 2027.
Tangerine: $250 cash on the No-Fee Daily Chequing Account. You need to switch your full payroll ($200+/month) and keep it going 2 consecutive months. Your client number must be created by Oct 31, 2026.

Side by side, these two are compared in Tangerine vs Simplii.

If you are a student

CIBC Smart Start / Smart for Students pays $125 for 5 eligible Visa Debit purchases within 60 days, with no direct deposit needed. You must not have held CIBC chequing since Jan 1, 2022, and the account has to stay open 1 year.

If you would rather earn something other than cash

RBC offers an 11-inch iPad ($649 value) on Signature No Limit or VIP Banking, for completing two of three activities within 90 days. Keep the account and activity until Nov 2, 2027.

If you're open to bundling products or a credit union

National Bank: up to $600, with $300 for the chequing package (20 transactions plus 3 automatic deposits over 120 days) and $100 each for a Mastercard, mortgage payments and a savings deposit. Ends Nov 3, 2026.
Coast Capital Savings: up to $600 for new members outside Quebec, mainly from keeping the same direct deposit for 90 consecutive days. Ends Nov 30, 2026.

Quick checklist before you pick

Can you actually move your payroll? Several offers need a recurring direct deposit.
Which deadline comes first? Scotiabank (Oct 29) and Tangerine (Oct 31) end soonest.
Have you banked there recently? Most offers exclude recent clients.
Bonuses may be taxable income. This is general information, not tax advice.

FAQ

What is the biggest bank account bonus in Canada right now?: As of Oct 19, 2026, the largest advertised bank bonus we track is Scotiabank's, up to $1,000 cash on a Preferred or Ultimate Package, ending Oct 29, 2026. The full amount needs a savings account and an eligible credit card as well as chequing.
Which bank bonus is easiest to get?: For a no-fee account, Simplii's $350 offer asks for recurring direct deposits totalling $100+ a month for 4 consecutive months. For students, CIBC's $125 offer needs only 5 eligible Visa Debit purchases within 60 days. Always confirm the terms.
Do I have to pay a monthly fee to get a bank bonus?: Not always. Simplii and Tangerine offer bonuses on no-fee chequing accounts. The larger big-bank bonuses usually require a premium package with a monthly fee unless you keep a minimum balance.
Are bank account bonuses taxable in Canada?: They may be. Treatment can depend on your circumstances, so check with a tax professional. This is general information, not tax advice.

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