Right Size Savings for business
Right for you if:
You have over $10,000 in surplus funds
You want to earn a premium interest rate
Higher interest rates for higher balances when you keep $10,000 to $2,000,000 in your account.
Anytime access to surplus deposits through ScotiaConnect® Digital Banking and Scotia OnLline®.
No account maintenance fee and free transfers when you use Scotia OnLline Financial Services, ScotiaConnect Digital Banking Services, TeleScotia® Telephone Banking Services, Scotiabank banking machines or Mobile Banking Services2.
You don’t need to lock in your surplus funds.
Find out what you need to open a business account.
Eligible for coverage by the Canadian Deposit Insurance Corporation (CDIC)
Deposits are eligible to be insured under the CDIC Act only if they are in Canadian currency, have a term of 5 years or less and are payable in Canada.
For full details of coverage limitations, refer to the CDIC brochure Protecting Your Deposits.
Interest is calculated on the applicable portion of the daily closing credit balance in each tier, at the corresponding rate for that tier. Interest will be paid on the entire balance up to $2,000,000 when the minimum daily closing balance of $10,000 is met. Interest is calculated and paid to your account at the end of the statement cycle. Rates are subject to change without notice
There are separate fees related to the Digital Banking for business and ScotiaConnect digital banking services. This account offers unlimited free Canadian dollar Other Credits. As this account is intended for savings, a fee of $5.00 is applied on the following debit transactions (per item): ABM Withdrawals, Cheques, Direct Payments, Bill Payments (ABM, Scotia OnLine, ScotiaConnect or TeleScotia), and Other Debits. All other standard pay-per-use banking transaction, deposit and sundry service fees as outlined in Your Guide to Fees and Interest Schedules apply.