🏦 What Other Products Does Neo Offer?
Neo is not just a banking account! In fact, they offer a whole host of diverse financial services that help you manage, spend, invest and earn rewards. Here is a summary of some of the other services they offer.
- Neo Invest
- Neo Mortgage
- Hudson Bay Credit Card
📈 What Is Neo Invest?
Neo Invest is an online based investment service that allows users to open a variety of investment accounts, including RRSPs, TFSAs, and personal accounts. Unlike traditional investment accounts, which require you to manually buy and sell specific investments yourself, Neo Invest manages your investments for you.
This means that you can take advantage of the expertise and knowledge of professional investment managers without having to worry about making complicated investment decisions based on how the markets are moving.
In terms of fees, the Neo Invest fee is on the lower side compared with similar products. As a customer, you will pay only 0.75% in management fees. This makes Neo Invest one of the most competitive rates on the market at the time of writing.
A sticking point for some people when looking to invest is the high minimum deposit limits which, often apply to investment accounts.
Luckily, the Neo Invest minimum deposit requirement is just $1. This makes the service a very popular choice with Canadians who are looking to get started investing right away with minimal commitment and hassle.
🏠 What Is Neo Mortgage?
Neo Mortgage is a mortgage brokerage service that helps borrowers pre-qualify, compare rates, and secure the best deal available.
The service is free for borrowers and funded through lump-sum payments from mortgage providers, which means there is no incentive to offer users loans with higher interest rates.
However, some users may prefer speaking with a brokerage employee in person to help them make their decision.
Additionally, Neo Mortgage does not list all of its lending partners on its website, so additional research is recommended before signing up for any type of loan.