What
if
saving
felt
good?
exciting?
fun?
rewarding?
good?
Lodavo is launching a new type of savings app to help Canadians save more and build healthy financial habits. Join the waitlist to secure early access and show your support for our concept!
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Here's how it works
Save
Securely connect your existing bank account(s) and save money each week.
Play
Pick your lucky numbers and participate in weekly draws for awesome prizes! The more you save, the more tickets you earn.
Win
When your chosen numbers match the winning numbers, you win extra cash prizes! It’s always free, so you can’t lose!
There’s no losing, just saving
Simply put, Lodavo makes saving a breeze. With gamified rewards, we make saving easier, more fun, and your money is always there when you need it.
Experience the thrill of the lottery and the security of saving
Lodavo wants to bring something new to the banking industry, because boring old savings accounts don’t work for everyone. Save money, earn tickets, and win awesome prizes!
Join the waitlist
FAQ
What's a prize-linked savings account?
A prize-linked savings account is a type of savings account where instead of only earning interest, you also have the chance to win extra cash prizes. Traditionally, saving money has been super boring since there's no short-term benefit. By adding the possibility of winning prizes, we hope to encourage people to save more by making it more fun to do so!
Can I lose my money?
Nope! You'll either earn your guaranteed savings interest rate, or win even more than that! There's no way to "lose" your money and there's no risk.
How can Lodavo offer these prizes?
By operating online and partnering with other online banks, we can keep our operating costs lower than traditional banks and pass on these savings to our customers in the form of awesome prizes.
Will Lodavo be available in Canada?
Yes, we're pleased to share that Lodavo will be available in Canada! We're working hard to launch the country's first prize-linked savings account and Lodavo is proudly Canadian. 🇨🇦
What will the odds of winning be?
The odds of winning will likely be similar to those of a lottery but will increase the more you save! Of course, smaller prizes will have higher odds of winning and larger prizes will have lower odds of winning.
Will my deposits be insured?
Yes, your deposits will be held by our partner bank, a CDIC member institution. You can have peace of mind knowing that your money is safe and secure.
Will I be able to withdraw money whenever I want?
Yes, you'll be able to withdraw your money at any time just like a regular savings account. Better yet, we don't plan on charging any withdraw fees like some banks do!
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