See where your good savings habits can take you!
Putting aside even a little bit every month should be a part of everyone's monthly budget, so we've developed some tools to make saving easier for you and to reward you for good saving habits.
Scotiabank's Automatic Savings Plan (ASP)
The easiest way to save regularly is to immediately put some money aside as soon as you get paid. You can make this automatic and you won't even have to think about it.
Scotiabank's Automatic Savings Plan (ASP) transfers a set amount to your savings account on a regular basis. Start by setting the amount you'd like put aside and the interval, and then you can sit back and watch your money grow.
Earn 1.0% bonus1 interest with the Scotiabank Savings Rewards Plan
Every good habit should come with a reward. With the Scotiabank Savings Reward Plan, we reward your good saving habits by paying a bonus 1.0% interest when you stick to your savings plan.
It's easy! Just save regularly through an Automatic Savings Plan and you'll earn an additional 1.0% bonus1 interest on the average monthly balance of your contributions made during the 18-month term, less any withdrawals you make that are not offset by an equal or greater lump sum deposit. And this bonus interest is paid in addition to our already competitive interest4 rates.
Are you ready to save and earn? Find out which account is right for you and then set up an ASP.
1 Some conditions apply
back to top
Saving for An Education
Whether you are saving for your own or someone else's education, Scotiabank has a number of accounts to help.
Saving for your child's education
If you are saving for your child's education, the Junior Account is designed to help the money grow, with a premium interest rate and no fees.
Learn more about the Junior Account
For those between 18 and 25
You can save on fees and earn more interest on your savings with Scotiabank Be Money Plan. With a Scotiabank Be Money Savings Account, you start earning interest on your very first dollar saved, so that you can reach your goal faster.
Savings in Action
Numbers tell the story best. With the interest you earn by saving regularly (plus the bonus interest of an SSRP1) you'll have more money put aside when the time comes to enroll.
How much more? Look at the chart to see how regular contributions play a big part in growing your savings.
| See how much you can save* |
| Monthly Amount Saved |
Total savings after: |
| Year 1 |
Year 2 |
Year 3 |
| $100 |
$1,226 |
$2,503 |
$3,831 |
| $150 |
$1,839 |
$3,754 |
$5,746 |
| $200 |
$2,453 |
$5,005 |
$7,662 |
| $300 |
$3,679 |
$7,508 |
$11,493 |
| $500 |
$6,132 |
$12,513 |
$19,154 |
| Based on an annual savings rate of 4%. |
*Example is in USD funds.
Learn more about Scotiabank Be Money Plan
back to top
Not what you're looking for? View all accounts
back to top
|
Automatic Savings Plan (ASP)
