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Savings Account Interest Rates

A variety of ways to earn interest on your money.

  • Rates are provided for information purposes only and are subject to change at any time.
  • * The interest rate paid depends on the total daily closing balance. Interest rate is applied to the entire balance, calculated daily, and paid monthly.
  • †Interest is calculated daily and will be paid monthly on the entire balance up to $2,000,000 when the minimum daily closing balance of $25,000 is met.
  • Scotia Registered Accounts hold Scotia GICs and Mutual Funds. Each account also contains a Cash section through which all transactions are settled. Funds may be accumulated in the Cash section prior to purchasing an investment.
  • 1Scotia Tax-Free Savings Accounts may hold Scotia GICs, Mutual Funds and a Savings Account. All transactions in the Scotia TFSA are settled through the Savings Account. Funds may be accumulated in the Savings Account prior to purchasing an investment.
  • 2Interest on funds in Canadian currency held in the Savings Account of your Scotia TFSA is calculated on your closing balance and paid monthly. During a leap year, interest is earned on the leap day. Upon account closure, interest earned up to the day of closure is paid on the account balance. The interest rate paid depends on the total daily closing balance. Interest rate is applied to the entire balance, calculated daily, and paid monthly.
  • 3Interest on funds in Canadian currency held in the cash section of your account is calculated on your closing balance and paid monthly. During a leap year, interest is earned on the leap day. Upon account closure, interest earned up to the day of closure is paid on the account balance. The interest rate paid depends on the total daily closing balance. Interest rate is applied to the entire balance, calculated daily, and paid monthly.
  • ▾Customers can have a maximum of five Premium Periods at any one time, each of which can have a length of 90 days, 180 days, 270 days, or 360 days. For each Premium Period, Premium Interest is calculated daily by applying the Premium Interest Rate to each deposit, including any accumulated Regular Interest, until the end of the Premium Period.  Premium Interest is paid at the end of each Premium Period, so long as NO DEBIT TRANSACTION HAS OCCURRED within that Premium Period.  When a debit transaction occurs, a new Premium Period of the same length will commence the same day.
  • ‡Momentum Savings Premium is paid at the end of each 90 day period (Momentum Savings Period) if you do not initiate or permit any debit transaction or allow your balance to fall below the minimum balance required during that period.