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Terms & Conditions

Scotiabank Momentum Savings Account

Offer Terms and Conditions

1. Campaign Offer


This Bonus Interest Rate offer is available to both new and existing Scotiabank Momentum Savings Account customers who transfer in their savings from other banks or financial institutions into a new or existing Scotiabank Momentum Savings Account and enroll for the Offer, subject to these Terms & Conditions.

2. Campaign Participation Requirements


To participate in the Bonus Interest Rate offer you must:

a) Have a ScotiaCard® Banking Card. If you do not have one, please visit a Scotiabank Branch.
b) Hold a Scotiabank Momentum Savings Account as sole or primary owner within the Campaign Offer Period defined below.
c) Complete the Campaign Enrollment process at www.scotiabank.com/bonusinterest up to August 31, 2017 7:00pm EST. For jointly held accounts, all owners on the account must enroll and comply with these Terms & Conditions.

3. Definitions of Terms used within Campaign Conditions.


'Bonus Interest'

The interest earned under this Campaign Offer, calculated at the Bonus Interest Rate in accordance with these Terms & Conditions.

'Bonus Interest Rate'

0.70%

'Campaign Offer Period'

July 4, 2017 to August 31, 2017

'Combined Balance'

On any particular day, the combined end of day balance of funds, excluding Mutual Funds, held within all Scotiabank Savings Account(s) (which includes Momentum Savings Accounts),1 Scotia Registered Account(s) and Scotia Investment Account(s)2, in which you are the sole owner or, for joint account(s), the primary owner, but for clarity, excludes funds held in chequing accounts.

'Combined Increase'

The excess of Combined Balance over Combined Starting Balance on any day during the Campaign Offer Period.

'Combined Starting Balance'

The Combined Balance on July 3, 2017.

‘Momentum Savings Account’

Any Scotiabank Momentum Savings Account opened during the Campaign Offer Period.

'Momentum Savings Account Increase'

The excess of Momentum Savings Account Balance over Momentum Savings Account Starting Balance on any day during the Campaign Offer Period.

'Momentum Savings Account Balance'

On any particular day, the combined end of day balance in all Momentum Savings Accounts.

'Momentum Savings Account Starting Balance'

The Momentum Savings Account Balance on July 3, 2017, provided that any Momentum Savings Account(s) not open on that date will be deemed to have a $0 end of day balance.

'you'

The individual who is eligible for this Campaign Offer.

4. Calculation of Bonus Interest


In addition to any other interest payable on the Momentum Savings Account(s), for each day during the Campaign Offer Period, you will earn Bonus Interest calculated on the lower of:

a) Momentum Savings Account Increase;
b) Combined Increase; and
c) $1,000,000.

Bonus Interest is calculated daily and paid monthly. The actual date at which you enroll in accordance with paragraph 2(c) does not affect this calculation

5. Payment of Bonus Interest


a) You will see Bonus Interest payments on your online statement as ‘campaign bonus’. It will be deposited into your Momentum Savings Account within 7 days after the end of each campaign month (Example: August 7, September 7) in which you are enrolled under Paragraph 2(c). Where an enrollment takes place on the last day of a month, Bonus Interest will be paid within 7 days after the end of the month-end following.

b) Bonus Interest will be paid into the sole ownership Momentum Savings Account with the highest balance or, if there is no sole ownership Momentum Savings Account, it will be paid into the joint Momentum Savings Account (for which you are primary owner) with the highest balance.

6. General Terms


a) Momentum Savings Accounts must be open and in good standing at the time of Bonus Interest payout in order for the Bonus Interest to be paid. For purposes of this Campaign Offer, a Momentum Savings Account is not in ‘good standing’ if it has a negative balance.

b) All other terms and conditions of the Scotiabank Momentum Savings Account continue to apply. Refer to www.scotiabank.com/bonusinterest for details.

c) Scotiabank reserves the right, at its sole discretion, to suspend, modify, limit or revoke this Campaign Offer at any time including, without limitation, amending the time periods for eligibility and to disqualify any account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, integrity or operation of this Campaign Offer. Scotiabank reserves the right to change interest rates at any time, and without notice. This Campaign Offer cannot be combined with any other offer.

®Registered trademark of The Bank of Nova Scotia.

1Scotiabank Savings Accounts include Scotiabank Money Master® Savings Account, Scotia Power Savings AccountTM, Scotiabank Savings Accelerator Account, Scotiabank Momentum Savings Account, Scotia US Dollar Interest Account and Scotia Euro Interest Savings Account. Funds held in a Scotia US Dollar Interest Account or Scotia Euro Interest Savings Account will be calculated at par with the Canadian dollar.

2For additional information on Scotia Registered Account and Scotia Investment Accounts, refer to the Investment Companion Booklet on Scotiabank.com.