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Main features and perks
- The longer you save, the higher your interest2
- Choose the timeline and track as you earn
- Save for multiple goals in one account
- Earn a savings rate of up to 6.05%* for 3 months on a MomentumPLUS Savings Account
Is this Savings Account right for you?
Right for you if you:
- Want to save longer to receive higher interest
- Will not require ABM, Point of Sale access, or automated direct bill payment functionality
- Want free unlimited transfers between Scotiabank accounts via self-service
May not be right for you if you:
- Want to use for everyday banking such as purchases, ABM transactions, and payroll deposits
More product benefits
Account features
No monthly account fees
Mobile deposit
Take a picture of your cheque and deposit it into your account
Automatic Savings
Set up an automatic savings plan and watch your savings grow
Transfers
Unlimited self-service transfers3
More perks
- No minimum balance required
- Free paperless record keeping or online statements
You may also like this alternative
Money Master Savings Account
- Earn interest on every dollar you save1
- Savings made easy with Bank the Rest® or automatic contributions
- Convenient and easy access to your money, whenever you need it
Includes Regular Interest Rate of 1.20% plus a Package Interest Rate Boost of 0.10% for Ultimate Package holders, 360-Day Premium Period Interest Rate of 1.45% and a Welcome Bonus Interest Rate of 3.30% for 3 months. Regular Interest plus a Package Interest Rate Boost of 0.10% for Ultimate Package holders (or 0.05% for Preferred Package holders) is calculated daily, paid monthly. Premium Period Interest is earned when you choose a 90, 180, 270 and/or 360-day Premium Period. A longer Premium Period earns a higher Premium Period Interest Rate provided you don’t make any withdrawals within the Premium Period you select. Premium Period Interest is calculated daily, paid at the end of the applicable Premium Period. Welcome Bonus Interest is calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account opened. Interest rates are per annum and subject to change. Visit the Current Rates Page for more information and current rates.
Annual interest rate is paid on the entire balance based on the tier within which the daily account closing balance falls. The interest rate paid depends on the total daily closing balance. Interest rate is applied to the entire balance, calculated daily, and paid monthly.
Regular Interest is calculated by applying the Regular Interest Rate to your daily closing balance and is paid monthly. 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.
Recommendations are provided for information purposes only and should not be relied upon as financial, investment or other advice. All recommendations are based on the information provided to us during this online process in relation to Scotiabank’s current product and service offerings. Terms and conditions apply to all products, services, offers and benefits displayed and should be reviewed carefully. All rates, fees, products, services, offers, and benefits and related terms and conditions are subject to change.
Please visit your nearest branch or call [1-800-472-6842] to speak with a Scotiabank representative.