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Automatic Savings Plan (ASP)

Right for you if:

  • You want to start saving through regular, pre-authorised payments
  • You want to make regular contributions to your savings

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.

Putting a set amount of your income aside every month, often called ‘paying yourself first’, is one of the most effective ways to save, so we've designed an account to make this easier for you, and reward your saving habits.

Scotiabank's Automatic Savings Plan (ASP) makes saving automatic at set time intervals, so you don’t have to even think about it.

  • Transfer a set amount to your savings account on a regular basis
  • Customise when you’d like to make payments and how much you'd like put aside



Make payments automatically

Save up to $19,000 in
3 years with monthly payments of $500

Save regularly through our Automatic Savings Plan and you can earn an additional 1% bonus1 interest on the annual average monthly balance of your contributions made during the one-year term2.

By the numbers

The interest you earn by saving regularly with an Automatic Savings Plan can bring you closer to your savings target.

How much closer? See how our Savings Plans help you reach your financial goals:

See how much you can save
Monthly Amount Saved Total savings after:
Year 1 Year 2 Year 3

Not sure if this is the right solution for you?

View our Account Comparison Chart [PDF 754 KB]

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

Additional Information

Please note you’ll need Adobe Acrobat Reader to download and view some of the Scotiabank PDF documents listed above.

Ready to Apply?

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