Savings accounts

No matter what you're saving for, we've got the savings account that's right for you.

  • MomentumPLUS Savings Account

    All your savings goals. One high-interest savings account.

    • Save for multiple goals in one account
    • No monthly account fees or minimum balance required
    • Earn even more interest1 when you open and fund a Premium Period(s)2
    • The longer you save, the higher your interest rate

    View MomentumPLUS Savings Account

  • Savings Accelerator Account

    Grow your savings faster within your investment plan with this high-interest savings account.

    Special Offer

    For a limited time, earn 1.30%† interest on new deposits into your RRSP or TFSA

    • Available to add on to any non-registered or registered plan
    • The higher your balance, the higher your interest rate
    • No monthly account fees or minimum balance required

    View Savings Accelerator Account

  • Money Master Savings Account

    Everyday savings account for your goals.

    • Convenient access to your money at any given time
    • No monthly account fees or minimum balance required
    • Grow your savings every time you use your debit card3 with Bank the Rest®

    View Money Master Savings Account

  • Scotia U.S. Dollar Daily Interest Account4

    Make your U.S. dollars go further.

    • Competitive foreign exchange rates
    • Easy online transfers between your Canadian and U.S. accounts
    • Commission-free U.S. dollar drafts
    • No monthly account fees with a $200 U.S. minimum balance
    • No monthly account fees if you’re 60 and over

    View Scotia U.S. Dollar Daily Interest Account

  • Scotia Euro Daily Interest Savings Account4

    A better way to save euros.

    • Competitive foreign exchange rates
    • The higher your balance, the higher your interest rate5
    • No monthly account fees with a minimum balance of 200 euros
    • No monthly account fees if you’re 60 and over
    • Two free teller transactions per month8

    View Scotia Euro Daily Interest Savings Account

What you can access with every account

  • No monthly account fees

  • Mobile and online banking

  • Automatic savings with pre-authorized contributions

Keep the change

You may not miss your spare change now, but it can add up over time.

With our Bank the Rest savings program, everyday purchases transaction made with your Scotiabank debit card will be automatically rounded up to the next multiple of $1 or $5 and transferred to your Money Master saving account. 

Learn about Bank the Rest Learn about Bank the Rest

What are you saving for?

Whether you’re saving for a big purchase or building your emergency fund, we can help you reach your goals.

Investing with a “PAC” mentality

How you can make your savings easy and automatic with pre-authorized contributions.

3 easy steps to starting an emergency fund

When it comes to unforeseen events like job loss, illness or major home repairs, it’s important to be financially prepared.

1
A maximum of five Premium Periods at any one time, each of which can have a length of 90 days, 180 days, 270 days, or 360 days. For each Premium Period, Premium Interest is calculated daily by applying the Premium Interest Rate to each deposit, including any accumulated Regular Interest, until the end of the Premium Period. Premium Interest is paid at the end of each Premium Period, so long as NO DEBIT TRANSACTION HAS OCCURRED within that Premium Period. When a debit transaction occurs, no Premium Interest is payable for that Premium Period and a new Premium Period of the same length will commence the same day. Refer to Current Rates Page for current Interest Rates, which are subject to change.
2
When you don’t make any withdrawals within the Premium Period timeframe you select.
3
Refer to Bank The Rest® Savings Program page for further details.
4
Not insured by the CDIC. Please note that, as of April 30, 2020, deposits made in a foreign currency are eligible for CDIC insurance.
5
The interest rate varies based on the balance in your account. Interest is paid on the portion of the daily closing balance within the specific tier. It is calculated daily and paid monthly.
6
A self-service transfer means a transfer to your other Scotiabank account without the help of a teller, including those made through Scotia OnLine®, Scotiabank Mobile Banking and Contact Centre. A $5.00 per-transaction fee applies on all debit transactions that are not self-service transfers. Standard registered plan withdrawal and transfer fees apply for RESP, RSP and other registered accounts (except TFSA). The MomentumPLUS Savings Account does not have ABM or Point of Sale access or automated direct bill payment functionality.
7
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.
8
Only teller-assisted debit and withdrawal transactions conducted at your branch of account are allowed on this account. ABM, telephone and Internet banking services, direct payment transactions, bill payments, overdraft protection and cheque-writing privileges are not available on this account.
®
Registered Trademark of The Bank of Nova Scotia
†

The 1.30% Promotional Interest Offer (the “Offer”) applies to New Deposits (defined below) made into an eligible Scotiabank Savings Accelerator Account (“SSAA”) between December 1, 2021 and April 30, 2022 (the “Offer Period”). Eligible SSAAs include only those held within a Registered Retirement Savings Plan (RRSP) or a Tax-Free Savings Account (TFSA). SSAAs held within a RRIF, LIF, Registered Locked-In RSP, RESP, RDSP or any other registered plan or non-registered plan are not eligible for this Offer.

During the Offer Period, promotional interest of 1.30% will be earned only on that portion of the SSAA Daily Balance that is greater than the SSAA Daily Balance as of November 30, 2021 (“New Deposits”). The “SSAA Daily Balance” means, with respect to any particular day, the closing balance in the eligible SSAA.

Promotional interest earned will be calculated at a promotional interest rate of 1.20% or 1.25% (the “Promotional Interest Rate”) plus the regular interest rate that applies to the eligible SSAA for a total effective interest rate of 1.30% during the Offer Period and only for New Deposits, as follows:

  • If the SSAA Daily Balance is $250,000 or more: regular interest rate is 0.10% plus a Promotional Interest Rate of 1.20% for a total interest rate of 1.30%.
  • If the SSAA Daily Balance is less than $250,000: regular interest rate is 0.05% plus a Promotional Interest Rate of 1.25% for a total interest rate of 1.30%.

The above regular interest rates are effective as of December 1, 2021 and are subject to change at any time without prior notice, resulting in a corresponding change to the Promotional Interest Rate so that the interest earned during the Offer Period on New Deposits will remain at 1.30%. Please click here for current regular interest rates.

The Promotional Interest Rate will cease to apply as of May 1, 2022. All promotional and regular interest earned during the Offer Period will be calculated daily and paid monthly. All interest rates described herein are annual rates.

SSAAs must be open and in good standing in order to receive any interest calculated at the Promotional Interest Rate. For purposes of this Offer, a SSAA is not in 'good standing' if it has a negative balance or the account holder is in breach of the account agreement with Scotiabank.

It is the SSAA account holder’s responsibility to determine his or her maximum allowable annual contributions in SSAAs held in registered plans.

All other terms and conditions of the SSAA continue to apply, refer to www.scotiabank.com/ca/en/personal/bank-accounts/savings-accounts/savings-accelerator-account.html for details.

This Offer, including the Promotional Interest Rate, may be changed, cancelled or extended at any time, in whole or in part, without notice.