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A Scotiabank Automatic Savings Plan or “ASP” plan can help you save for a specific goal over a period of time by making regular, automatic contributions on your behalf.
An ASP plan automatically deducts a specified amount on a regular basis from your chequing or savings account, and deposits it directly into your destination account.
- You can choose tosave weekly, bi-weekly, monthly, quarterly, semi-annually or annually
- Scotiabank will automatically transfer the money into the Scotiabank savings account you choose.
- You can change how much and how often you contribute at any time, or cancel the service by advising us in writing
By making regular contributions, you are building your savings while earning a real return on the amount already contributed. As a result of this compounding, your portfolio has the potential to grow faster than if you made a single lump-sum contribution.
Setting up your Automatic Savings Plan is easy. Contact us for more information about this product and how you can easily transfer your existing business to Scotiabank.
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