Bonus Offer Terms & Conditions

MomentumPLUS Savings Account

Terms & Conditions



1. Campaign Offer

The Bonus Interest Rate offer that runs from October 2, 2017 to February 28, 2018, is available to both new and existing Scotiabank MomentumPLUS Savings Account customers who transfer in their savings from other banks or financial institutions into a new or existing Scotiabank MomentumPLUS Savings Account and enroll for the Offer, subject to these Terms & Conditions.

2. Campaign Participation Requirements

To participate in the Bonus Interest Rate offer you must:

  1. Have a ScotiaCard® Banking Card. If you do not have one, please visit a Scotiabank Branch.
  2. Hold a Scotiabank MomentumPLUS Savings Account as sole or primary owner within the Campaign Offer Period defined below.
  3. Complete the Campaign Enrollment process at www.scotiabank.com/mp up to December 29, 2017 12:00pm EST. For jointly held accounts, all owners on the account must enroll and comply with these Terms & Conditions.

3. 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’ 0.60%
‘Campaign Offer Period’ October 2, 2017 – December 29, 2017
‘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 October 1, 2017.
‘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 October 1, 2017, provided that any MomentumPLUS Savings Account(s) not open on that date will be deemed to have a $0 end of day balance
Post-Offer Period December 30, 2017 – February 28, 2018
‘you’ The individual who is eligible for this Campaign Offer.

4. Calculation of Bonus Interest

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. $1,000,000

The actual date at which you enroll in accordance with paragraph 2(c) does not affect this calculation.

Post-Offer Period
You will continue to earn Bonus Interest calculated on the lower of the:

  1. end of day MomentumPLUS Savings Account Increase on December 29, less the amount of any debit transactions that occur during the Post-Offer Period
  2. $1,000,000

Bonus Interest is calculated daily and paid within 7 days of the end of the Post-Offer Period. You will see the Bonus Interest payment detailed in your online Account Summary as ‘campaign bonus’.

5. Payment of Bonus Interest

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. Bonus Interest will earn interest at the Regular Interest Rate.

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/mp 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.