Scotiabank Savings Reward Plan (SSRP)

Right for you if:

  • You want to save while staying within your budget
  • You want to put money aside as soon as you get it

Deposit Tip of the Month

Finding money can be easier than you think. Save regularly with an Automatic Savings Plan (ASP).

Have a pre-determined amount automatically transferred to your savings account at set intervals to ensure you save regularly and avoid temptation to spend the funds sitting in your chequing account.

The Scotiabank Savings Reward Plan allows Automatic Savings Plan contributors to earn an additional 3% bonus interest1 on the annual average monthly balance of their contributions made during the one-year term2.

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) let's you:

  • Make this automatic and you won't even have to think about it.
  • Transfer a set amount to your savings account on a regular basis
  • Set the amount you'd like put aside and the interval
  • Watch your money grow

1 Terms and Conditions apply.
2 Less any withdrawals you make that are offset by an equal or greater lump sum deposit.


Fees and Terms

earn a bonus* 3% annual interest

savings are automatically invested


*Some conditions apply.

See how fast your savings can grow!

Look at the chart to see how regular contributions play a big part in growing your savings.

See how much you can save*

Bonus interest Rate: 3%
Customer ASP Contributions: $1,200 ($100 in each of 12 months)
Withdrawals: None
Average ASP Account Balance: $650
How did we get this average ASP account balance?
Monthly Amount Saved Amt Saved Balance
Month 1 $100 $100
Month 2 $100 $200
Month 3 $100 $300
Month 4 $100 $400
Month 5 $100 $500
Month 6 $100 $600
Month 7 $100 $700
Month 8 $100 $800
Month 9 $100 $900
Month 10 $100 $1000
Month 11 $100 $1100
Month 12 $100 $1200
TOTAL   $7,800 / 12mths
Bonus Reward: $19.50 (Average balance of $650 x 3% Bonus)

Transfer 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. You will earn a bonus 1.0% on your savings when you stick with your savings plan.

Ready to Apply?