Best prize-linked savings apps in Canada (2026)

Canada has more ways to win money for saving than most people realize, and almost all of them disappear. In 2026 four standing draws reward the amount you save: Servus Big Share, Wealthsimple, QUBER and Lodavo, the free app we make. Around them sits a rotating cast of deposit contests from Neo, Tangerine and KOHO that run for a few weeks and close. Telling the two apart is the whole job, because a promo ending in eight weeks is not a reason to move your savings and a standing draw might be. The table above covers the four standing ones; below is how each works, who can use it, and which of the temporary ones were actually worth entering.

How we sorted these prize-linked savings options

One question does most of the work, and it isn’t prize size: do your entries scale with the amount, or is it a flat bonus for doing something once? That single test separates genuine prize-linked savings from a sweepstakes wearing its clothes, and it cuts across brands rather than along them.

• Scales per dollar: Lodavo (one ticket per $25 saved), Servus (five entries per $500 of balance growth), QUBER (one ballot per $20 of balance growth), Wealthsimple (one entry per $1 of net deposits), Neo (one entry per $1 deposited).
• Flat bonus for an action: KOHO (10 entries for setting up direct deposit, 10 per referral), Tangerine (5,000 entries for registering).

Then a second question decides who it suits: does the draw reward money you already have, or only money you move in? Servus and QUBER both count balance growth, and Lodavo counts what you save at your own bank. Wealthsimple and Neo count net deposits, which means they reward switching more than saving.

One thing to say up front: Lodavo publishes this site and makes one of the apps on it. Every option below is described from each provider’s own published terms, with their pages linked so you can check the numbers yourself, and Lodavo sits at the end rather than taking a slot it can’t honestly win.

Why does Canada have so few prize-linked savings options?

Canada has no institutional prize-linked savings account, the kind where a bank keeps the interest it would have paid you and draws for it instead. UK Premium Bonds and the American credit-union Save to Win programs each needed their own legislation. Here, a prize attached to money is a contest, and contest law decides what anyone can offer.

A private company can’t run a lottery

Under section 206 of the Criminal Code (opens in a new tab), running a lottery scheme is an offence unless a province conducts or licenses it. That rules out a Canadian bank raffling off the interest on your deposits. What’s left is the promotional contest, which is legal, regulated, and the structure every draw on this page uses.

What a legal contest has to include

The Competition Bureau’s rules for promotional contests (opens in a new tab) require adequate disclosure of the number and value of prizes, the odds of winning, and anything else that materially affects your chances. Entry can’t be conditional on a purchase, and Canadian winners have to answer a skill-testing question. That last pair is why every option here has a free entry route, and why Servus lets non-members enter by mailing in an essay.

Other countries solved this differently, and we cover those models in our look at the Canadian equivalent of Premium Bonds and Save to Win.

Biggest prize: Servus Big Share

The largest prize-linked offer in the country isn’t an app at all. Servus Big Share (opens in a new tab) is an annual contest from Alberta’s largest credit union, and it’s the closest thing Canada has to a true save-to-win account: members earn five entries for every $500 their savings and investment balances grow between January 1 and April 30, up to 5,000 entries, and one member wins $1,000,000. The 2026 round closed on April 30, with the winner announced in June, so the next window opens in January.

Two limits decide whether this is for you. You have to be able to join Servus, which means living, working, worshipping or studying in Alberta, and the contest excludes Quebec residents. Worth knowing if you qualify: Alberta credit union deposits are guaranteed in full by the Credit Union Deposit Guarantee Corporation, with no dollar cap, rather than by CDIC and its $100,000 limit.

Biggest prize you can enter monthly: Wealthsimple

If you already keep money at Wealthsimple, its Monthly Millionaire draw runs on a far shorter cycle than Servus. Weekly draws build to a $1,000,000 grand prize at the end of every month; in August 2026 the weekly prizes ran $25,000, then $50,000, then a Volvo XC90, then the million. Entries come from money you move in: 500 for opening and funding a Chequing account, 1 entry for every dollar of net deposits (opens in a new tab), 5,000 for each successful referral, and double entries if your pay lands there.

Best for someone consolidating at Wealthsimple anyway, because the draw is free upside on deposits they were making regardless. Less of a fit if you’d rather not move your money, since withdrawing reduces your net deposits and your entries with them.

Best classic save-to-win model: QUBER

QUBER, out of Moncton, runs the closest thing in Canada to the American credit-union Save to Win model, with one catch: the way in that works today is still your employer, as a workplace savings benefit. You save into a QUBER Vault, and every $20 your balance grows over a draw period earns one ballot (opens in a new tab). A direct plan at $81.49 a year is opening to individuals, but it is waitlisted as of August 2026. There are monthly draws plus longer grand-prize periods, and $550 is the most any single user can win in a calendar year. Some employers match what you put in, which is a real return none of the other draws here offer.

Two things to know before you count on it. The money sits with QUBER’s banking partners rather than in your own bank, and cashing out before a draw forfeits the ballots you’d built up. Best for someone whose workplace already offers it, especially with a match on the table.

The deposit contests that come and go

Canadian fintechs run genuine prize-linked deposit contests, sometimes very good ones, but they last weeks rather than being part of the product, so they’re usually closed by the time you hear about them.

Neo runs the best of them. Its 10K Your Way contest gave one entry for every $1 deposited (opens in a new tab) from an external account into a Neo Savings account, with no cap, doubled for turning on Auto-Save and doubled again for a joint account, so a $1,000 deposit could earn 4,000 entries. The prize was $10,000 plus two of $2,500, and it closed on July 9, 2026. Neo has also run a Deposit Days contest with a $25,000 prize. Nothing comparable is running as of August 2026, and Neo doesn’t publish a schedule, so if you bank there it’s worth watching the app rather than planning around it.

Tangerine and KOHO are a different animal. Tangerine’s Boost contest, running July 1 to September 30, 2026, has three real $100,000 prizes, but the 5,000 entries come from registering through your Tangerine account (opens in a new tab) and from referrals, so saving another $5,000 earns you nothing extra. KOHO’s giveaways work the same way, with flat entries for direct deposit and referrals. Both are worth entering if you already bank there. Neither gives you a reason to save more, which is the point of the model.

The catch with all of them is the same: you can’t build a savings habit around a contest that ends. They reward you for moving money during a window, and the window is chosen by the bank’s marketing calendar, not by you.

Lodavo, the only one where the draw is the whole product

Every other option on this page is a prize attached to something else. Servus is a credit union running an annual contest. Wealthsimple is an investing platform with a monthly draw on deposits. QUBER is an employee benefit. Neo’s contests are marketing campaigns with end dates. Lodavo is the free app we make, and prize-linked savings is the entire thing it does, which is why it’s the only one with no window to wait for, no employer to hope for, and no province to live in.

It’s also the only one that runs on top of the savings account you already have. It works with virtually any Canadian bank or credit union, so you keep the account and the rate you’ve got, and the more you save, the more free tickets you earn. Every $25 you save earns a ticket in that week’s draw. You can win up to $10,000, and at least $100 goes to a user every single week, every week, not during a promotional period.

Where your money has to sit is what separates these options. Wealthsimple and Neo count money you move in, so they pay you to switch. QUBER’s ballots vanish if you withdraw. Servus needs an Alberta membership and a calendar. Lodavo’s tickets follow what you save wherever you keep it, so your savings never leave your own bank and there’s nothing at stake in the draw. If you’re wondering whether that makes it gambling, the short answer is no, and we walk through the mechanics in our explainer on prize-linked savings and gambling.

Terms and conditions apply. No purchase necessary (alternate method of entry available). Skill-testing question required. Open to legal residents of Canada who are the age of majority. Odds depend on the number of eligible entries received. Full rules and odds at our contest rules.

Which one should you actually pick?

Start with what you’re eligible for, because that rules out more than preference does. If you’re in Alberta and can join Servus, the Big Share is the biggest prize on offer and costs nothing to enter, so set a reminder for January. If your employer offers QUBER, take it, especially if there’s a match. If your money already sits at Wealthsimple, its draw is free upside on deposits you were making anyway. And if you bank with Neo, watch for the next deposit contest, because its entry math is the most generous of any of them while it’s running.

What none of that answers is what to do in the meantime, which is where the standing draws matter more than the big numbers. Lodavo is the one with no gate and no end date, and it stacks with all of the above. Whichever account holds your money, you can add a weekly draw over the same balance for free, without moving anything or waiting for a window to open. And if a guaranteed return matters more to you than a chance at a prize, none of these is really the answer: a promotional savings rate is, and we rank those separately in our roundup of the best high-interest savings accounts in Canada.