Bank & Brokerage Bonus Calculator Canada
Calculate what a bank or brokerage bonus is worth after hold time, fees, and opportunity cost.
Methodology Reviewed
Calculate Your Bonus Value
If the calculator is unavailable, use the formula and worked example below.
Estimated Result
Enter the promotion details to compare:
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Estimated Net Bonus
- Advertised Bonus
- Unavoidable Fees
- Estimated Opportunity Cost
Based on the assumptions entered, the estimated opportunity cost and fees exceed the advertised bonus.
How Your Result Is Calculated
The formula separates the advertised bonus from the economic costs you enter.
The Simple Annualized Comparison Rate uses simple annualization for comparison and is not an investment return or guaranteed yield. See calculation methodology.
Compare Current Canadian Brokerage Referral Offers
Offers are selected editorially and do not affect calculator results. We may receive a referral or affiliate benefit if you qualify through certain links.
$25 With Wealthsimple
Minimum: $100 qualifying external funding
View Offer Details
$50 With Questrade
Minimum: $250+ in the first eligible account
View Offer Details
How to Read Your Result
The calculator answers two different questions: how many estimated dollars remain after promotion-specific economic costs, and how that one-time return compares across different holding periods.
Net Bonus Value
Estimated dollars left after promotion-specific fees and opportunity cost.
Simple Annualized Comparison Rate
A time-normalized comparison metric—not APY, an investment return, or guaranteed yield.
What Can Reduce the Headline Bonus?
Opportunity Cost
Count only the return you actually expect to give up because of the promotion. If transferred investments remain invested in substantially the same way, 0% may be appropriate.
Unavoidable Fees
Include only incremental costs caused by earning the bonus, such as an unreimbursed transfer fee. Exclude costs you would pay anyway.
Formula Reference
- Net Bonus Value
- Advertised Bonus − Unavoidable Fees − Opportunity Cost
- Opportunity Cost
- Amount You'll Commit × ((1 + Foregone Annual Return ÷ 100) ^ (Capital Hold Period ÷ 365) − 1)
- Annualized Comparison
- (Net Bonus Value ÷ Amount You'll Commit) × (365 ÷ Capital Hold Period)
Bank Bonuses vs Brokerage Bonuses
The same headline bonus can have very different economics depending on what happens to the capital while it qualifies.
Bank Bonus
Cash may stop earning its previous returnOpportunity cost can materially reduce a bank bonus.
Brokerage Bonus
Securities may remain invested in kindA brokerage transfer does not automatically remove market exposure.
Two Rules People Commonly Confuse
Funding / Qualification Deadline
When qualifying money must arrive. This is not automatically the period your money must remain untouched.
Capital Hold / Clawback Rule
How long funds or account value must satisfy the promotion after qualification. Use the rule that actually applies to the money being evaluated.
Provider terms control both questions. A 30- or 60-day funding window does not necessarily mean the full qualifying capital is locked for the same period.
Worked Example: Is a $500 Bonus Worth Moving $10,000?
- Advertised Bonus
- +$500.00
- Unavoidable Fees
- −$0.00
- Opportunity Cost
- −$97.18
- Estimated Net Bonus
- $402.82
With a 90-day hold and 4% foregone return, the $500 bonus has an estimated net value of $402.82.
16.34% is a comparison rate, not a repeatable annual yield. It puts the one-time 90-day return on a common time basis.
What This Calculator Doesn't Include
- Offer eligibility or account-type restrictions
- Taxes or tax treatment
- Market gains or losses
- Foreign-exchange changes
- Points values or spending requirements
- Credit-card rewards
- Promotion stacking
- Clawback probability or provider-specific exceptions
It also does not forecast the return of investments before or after a brokerage transfer.
Provider terms control the real promotion. A headline bonus can have eligibility windows, excluded transfers, account-type restrictions, payout delays, or withdrawal rules that are not captured by five calculator inputs. Review the current provider terms and the sourced deal page before moving money solely for a promotion.