Looking for security for your principal investment, with a competitive rate of return? Scotiabank’s VariRate Plus gives you both – but with the potential for a whole lot more.

Investment potential with protection

Like a regular term deposit, VariRate Plus gives you complete security of your principal investment with competitive interest rates.

But here’s the difference. If market rates increase, you have the potential to earn a higher rate of return. And if market rates fall, you’ll always be assured of earning a minimum rate of return based on rates available on our ScotiaPlus Gold savings account, with full protection for your principal investment.

In addition, interest rates are tiered based on the amount you have invested each month. You earn a higher rate when your principal and any accrued interest exceed the upper dollar limit of one tier, and move into the next.

Higher returns if rates rise

If the 180-day Treasury Bill rate increases from one month-end to the next month-end during your one-year term, your VariRate Plus rate will increase too on the first day of the following month.

Investment protection if rates decline

Your principal investment is always guaranteed. And provided you hold your VariRate Plus Term Deposit until maturity, you’re assured of a minimum rate of return based on the current rates available on our ScotiaPlus Gold savings account – no matter how market interest rates perform.

VariRate Plus Term Deposit is available for a one-year term with a minimum investment of TT$5,000. The interest you earn is compounded monthly and your principal investment and all accrued interest are fully payable at the end of your term.

Contact us for more information on how VariRate Plus can give you investment potential with protection, or see a sales officer at your local Scotiabank branch.