Rate Booster Term Deposit

Right for you if:

  • You want a guaranteed interest rate that increases over time
  • You want flexibility to respond to rising interest rates
  • You want access to your savings if you need it

Get the benefit of the higher interest rates normally associated with a longer-term investment and the flexibility of a short-term deposit with the Scotiabank Rate Booster Term Deposit.


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  • Choose between 18-month and three-year terms
  • Enjoy a guaranteed and competitive interest rate
  • Earn higher interest rates the longer you stay invested
  • Reinvest if interest rates increase or stay invested at the current rate if interest rates decline
  • Cash out at designated times (“sub-terms”) without penalty

For the 18-month term: No penalty if all or part of the deposit is redeemed at the six- or 12-month designated term (sub-term).
For the three-year term: No penalty if all or part of the deposit is redeemed at the one- or two-year designated term (sub-term).

Interest is compounded at the end of each sub-term and paid at maturity. Interest paid is calculated using the average rate of interest from each sub-term. Minimum investment required.

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