Bonus Offer Terms & Conditions

MomentumPLUS Savings Account

Terms & Conditions



1. Campaign Offer

When you open a Scotiabank MomentumPLUS Savings Account between April 2, 2018 and June 29, 2018, and transfer your savings from other banks or financial institutions into a Scotiabank MomentumPLUS Savings Account, you will earn Bonus Interest until June 29, 2018, subject to these Terms and Conditions.

2. Definitions of Terms used within Campaign Conditions.

‘Bonus Interest’ The interest earned under this Campaign Offer, calculated at the Bonus Interest Rate in accordance with these Terms & Conditions.
‘Bonus Interest Rate’ 0.85% per annum
‘Campaign Offer Period’ April 2, 2018 – June 29, 2018
‘Combined Balance’ On any particular day, the combined end of day balance of funds, excluding Mutual Funds, held within all Scotiabank Savings Account(s) (which includes MomentumPLUS Savings Accounts),1 Scotia Registered Account(s) and Scotia Investment Account(s)2 , in which you are the sole owner or, for joint account(s), the primary owner, but for clarity, excludes funds held in chequing accounts.
‘Combined Increase’ The excess of Combined Balance over Combined Starting Balance on any day during the Campaign Offer Period.
‘Combined Starting Balance’ The Combined Balance on April 1, 2018.
‘MomentumPLUS Savings Account’ Any Scotiabank MomentumPLUS Savings Account open during the Campaign Offer Period.
‘MomentumPLUS Savings Account Increase’ The excess of MomentumPLUS Savings Accounts Balance over MomentumPLUS Savings Accounts Starting Balance on any day during the Campaign Offer Period.
‘MomentumPLUS Savings Account Balance’ On any particular day, the combined end of day balance in all MomentumPLUS Savings Accounts.
‘MomentumPLUS Savings Account Starting Balance’ The MomentumPLUS Savings Account Balance on April 1, 2018, provided that any MomentumPLUS Savings Account(s) not open on that date will be deemed to have a $0 end of day balance
‘you’ The individual who is eligible for this Campaign Offer.

3. Bonus Interest on new money during the Campaign Offer Period

Campaign Offer Period
In addition to any other interest payable on the MomentumPLUS Savings Account(s), for each day during the Campaign Offer Period, you will earn Bonus Interest calculated on the lower of:

  1. MomentumPLUS Savings Account Increase;
  2. Combined Increase; and
  3. $5,000,000

4. Payment of Bonus Interest

  1. Bonus Interest is based on an annual rate, calculated daily and paid monthly. You will see Bonus Interest payments on your online MomentumPLUS Savings Account Transaction History as ‘Campaign Bonus Interest’. It will be deposited into your MomentumPLUS Savings Account within 7 days after the end of each campaign month (Example: May 7, June 7 and July 7)
  2. Bonus Interest will be paid into the sole ownership MomentumPLUS Savings Account with the highest balance or, if there is no sole ownership MomentumPLUS Savings Account, it will be paid into the joint MomentumPLUS Savings Account (for which you are primary owner) with the highest balance

5. Eligibility

This Campaign Offer is only available to the individual to whom the direct marketing offer was addressed promoting the Campaign Offer. To participate in this Campaign Offer, individuals must be the sole owner of a MomentumPLUS Savings Account or, for those who only have a joint MomentumPLUS Savings Account, they must be the primary account holder.

6. General Terms

  1. MomentumPLUS Savings Accounts must be open and in good standing at the time of Bonus Interest payout in order for the Bonus Interest to be paid. For purposes of this Campaign Offer, a MomentumPLUS Savings Account is not in ‘good standing’ if it has a negative balance.
  2. All other terms and conditions of the Scotiabank MomentumPLUS Savings Account continue to apply. Refer to www.scotiabank.com for details.
  3. Scotiabank reserves the right, at its sole discretion, to suspend, modify, limit or revoke this Campaign Offer at any time including, without limitation, amending the time periods for eligibility and to disqualify any account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, integrity or operation of this Campaign Offer. Scotiabank reserves the right to change interest rates at any time, and without notice. This Campaign Offer cannot be combined with any other offer.