Crowd Deposit Plan
Save together and earn more
An easy way to earn more interest on surplus funds1
Whether as a Franchisee, member, or association, businesses want to earn as much as possible with their surplus funds. But individually their balances may not be large enough to earn a higher interest rate. The Crowd Deposit Plan can help.
Here's how it works:
Individual account balances are combined within a single Crowd Deposit Plan.
The interest rate is based on this combined balance2
Because the collective balance is bigger, everyone can earn a higher interest rate on their individual balances.
Ideal for companies with separate business entities.†
Compare the difference the Crowd Deposit Plan can make3
All accounts participating in the Crowd Deposit Plan will use the same interest rate based on the interest rate tier of the aggregate balance.
Better rates are just the beginning
Interest rates and tiers are customized to suit your company.4
Account holders can withdraw funds at any time.
Accounts remain individually owned by the account holder.
Individual account statements are sent directly to the account holders.
There’s no maintenance or transaction fees.5
It’s available for Canadian or U.S. funds.
Open a Crowd Deposit Plan today:
Or contact your Scotiabank Business Advisor or Relationship Manager
Eligible for coverage by the Canadian Deposit Insurance Corporation (CDIC)
For full details of coverage limitations, refer to the CDIC brochure Protecting Your Deposits, or ask for a copy at you Scotiabank branch
We cannot guarantee that interest earned will always be higher than your other deposit products. Actual interest earned depends on the aggregate balances in Crowd Deposit Plan investment accounts.
Interest is calculated daily and deposited monthly into the account.
Accounts within the plan are subject to minimum and maximum deposit amounts as authorized by the plan owner.
The interest rate and/or interest rate tiers are subject to change at our discretion at any time.
Please see Your Guide to Fees and Interest Schedules for details.
An individual or organization that is legally permitted to enter into a contract.