The National Bank of Canada was formed in November 1979 through the merger of Banque Canadienne Nationale and the Provincial Bank of Canada. Since then, it's grown into the 6th largest bank in Canada, with a net worth of $64.71 billion. In 2025, it acquired Canadian Western Bank, increasing its customer base and revenue even further.
This institution offers a full suite of financial products, including personal bank accounts, mortgages, credit cards, and investments. It's especially well-respected for its products and services designed to make banking in Canada easier for newcomers.
Overview
- Full-service banking institution
- 6th largest bank in Canada, headquartered in Montreal, Quebec
- 395 branches and 965 ATMs across Canada
- Strong digital banking platform with highly rated mobile apps
- Multiple customer support channels and online resources
Rating methodology
National Bank's overall rating is 2.7 out of a possible 5 stars. This number is an average of all the individual products we've rated so far, which you can find more info on below. Each of these are scored by breaking them down into their main parts, then comparing each feature to similar products on the market.
National Bank accounts: chequing and savings
National Bank has a range of chequing accounts, including its most basic National Bank The Minimalist Chequing Account and the popular National Bank Connected Chequing Account. Its lone savings option is the National Bank High Interest Savings Account, which provides a 0.65% interest rate – quite competitive when compared to other big bank savings rates.
Its specialty accounts and offers for various groups are where National Bank shines, though. The features and benefits of the National Bank Newcomer Banking Package are the best example, but there are also bundle deals available for professionals, perks for students, and helpful resources for young adults.
National Bank Credit Cards
National Bank has a credit card for everyone, ranging from a basic no-fee cash back card to the celebrated World Elite card with several perks. It may be the smallest of the Canadian big banks, but it doesn't skimp on credit card variety.
Its most basic option is the National Bank mycredit Mastercard, a straightforward, cash-back card with no annual fee. The National Bank World Elite Mastercard is the cream of the crop, offering a selection of perks, including a comprehensive insurance package that makes it the top choice for a travel card for seniors.
| Credit Card | Score | Welcome Bonus | Annual Fee | Avg. Rate of Return | Apply | Card |
|---|---|---|---|---|---|---|
National Bank Allure Mastercard  | N/A (Terms) | $0 | 0.49% | |||
National Bank Platinum Mastercard  | N/A (Terms) | $70 | 1.12% | |||
National Bank World Elite Mastercard  | 40,000 points (Terms) | $150 | 2.29% | |||
National Bank World Mastercard  | N/A (Terms) | $115 | 1.44% | |||
National Bank ECHO Cashback Mastercard  | N/A (Terms) | $30 | 1.16% | |||
National Bank Syncro Mastercard  | $70 (Terms) | $35 1st year free | 0% | |||
National Bank MC1 Mastercard  | N/A (Terms) | $0 | 0% | |||
National Bank mycredit Mastercard  | N/A (Terms) | $0 | 0.61% | |||
National Bank Mastercard Business Card  | N/A (Terms) | $0 | 0% | |||
National Bank Platinum Mastercard Business Card  | N/A (Terms) | $125 | 1.5% |
National Bank investment accounts and products
Investors will find a top online brokerage in National Bank Direct Brokerage. This platform allows users to trade ETFs, stocks, and more for free. Options are traded at $0 commission and $1.25 per contract. It also offers a wealth of investment-related resources, including webinars and a library of instructional videos on YouTube.
National Bank has a large selection of registered accounts for investors, including one of the best FHSAs in the country. Its GIC rates are quite competitive too, especially compared to other big bank rates.
National Bank Direct Brokerage
$0 commission on all transactions + No minimum balance to get started.
National Bank loans
As you'd expect from a full-service bank, National Bank has plenty of borrowing options available, including lines of credit, personal loans, and car loans. Their loan roster also includes a student-specific line of credit.
For homeowners, National Bank's All-In-One home equity line of credit is particularly noteworthy. This HELOC combines a mortgage and a line of credit, letting you borrow back the money you've already paid off to use for other things. The convenience of managing daily banking and financing needs within a single account like this is quite appealing.
Visit the National Bank page for more info on their loan products.
National Bank mortgages
With plenty of mortgage types to offer, National Bank can serve those looking to purchase their first home, purchase their retirement home, or refinance their current home. It even has a few different promo offers available for various types of home buyers, up to a maximum of $7,800 cash back.
The mortgage rates for National Bank products are quite competitive, some of the best available from the Canadian big banks.
Visit the National Bank page for more info on their mortgage products.
FAQ
Is the National Bank of Canada a good bank?
Yes, National Bank is one of the top banks in Canada. Established in 1979, National Bank offers a full suite of personal and business banking products, including specially designed products and services for newcomers to Canada.
What are the pros and cons of the National Bank?
National Bank is a large, well-established Canadian institution, known for its above-average customer service and excellent products and services for Canadian newcomers. Unfortunately, most of its branches are in Quebec and Ontario, making it an inconvenient option for some people.
What credit cards does National Bank offer?
National Bank has a suite of credit cards, including cash back, travel, and no-fee selections. The National Bank World Elite Mastercard is the best card for seniors who want travel insurance, and the National Bank mycredit Mastercard.
Does National Bank have a high-interest savings account?
Yes, the National Bank High Interest Savings Account is a no monthly fee account and has an interest rate of 0.65%. You also get free transfers between your National Bank accounts for easy access to your funds.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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