High interest savings accounts

Grow your savings with high interest. 

Enjoy no monthly account fees, unlimited self-service transfers4, free Scotia InfoAlerts, and CDIC Deposit Protection eligibility with our high interest savings accounts (HISA).

Choose a savings account that’s right for you

MomentumPLUS Savings Account

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

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Earn a savings rate of up to 5.70%* for 3 months. 

  • 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
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Savings Accelerator Account

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

  • Available to add on to any non-registered or registered plan
  • No monthly account fees or minimum balance required
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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®
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Benefits of high interest savings accounts

No fees

Enjoy no monthly fees on all of our high interest savings account 

Unlimited transfers

Transfer between chequing and savings as often as you’d like with unlimited self-service transfers4

Automatic savings

Make saving easier with automatic pre-authorized contributions

Free alerts

Instantly get notified when important activity happens on your account with Scotia InfoAlerts

Always protected

Protect all your deposits made through Scotiabank with CDIC Deposit Protection**

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

Talk to a Scotia advisor today

A Scotiabank advisor is someone you can talk to about your today and trust with your tomorrow.

Let us help you save

Whether you’re saving for a big purchase or just starting out, we can help you reach your goals. 

Investing automatically makes saving easier 

Investing on a regular basis through PACs is a great way to build your savings. 

How to choose between a GIC and a High Interest Savings Account 

Take the time to consider which saving option is better for you. 

How much should I have in savings? 

You want to save but what should your goal be?

Read more Advice+ articles

Frequently asked questions

Additional information

Eligible for CDIC Insurance

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®
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*

Includes Regular Interest Rate of 1.05% plus a Package Interest Rate Boost of 0.10% for Ultimate Package holders, 360-Day Premium Period Interest Rate of 1.10% and a Welcome Bonus Interest Rate of 3.45% 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.

**
Canada Deposit Insurance Corporation (CDIC) protects eligible deposits in Canadian and foreign currency for up to $100,000 (Canadian dollars) in each of CDIC’s insurance categories. CDIC eligible deposits include deposits at Canadian financial institutions held in one name or joint names, in trust, registered and non-registered accounts (including Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), Tax-Free Savings Accounts (TFSAs), Registered Education Savings Plans (RESPs), Registered Disability Savings Plans (RDSPs) and First Home Savings Account (FHSA). Deposits held in Mutual Funds are not CDIC eligible deposits.
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
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.
5
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.