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.
Earn a savings rate of up to 5.40%* for 3 months
Savings Accelerator Account
Grow your savings faster within your investment plan with this high-interest savings account.
For a limited time, earn an interest rate of 5.00% on new FHSA deposits with the Savings Accelerator Account.†
- 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
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®
Benefits of high interest savings accounts
Enjoy no monthly fees on all of our high interest savings account
Transfer between chequing and savings as often as you’d like with unlimited self-service transfers4
Make saving easier with automatic pre-authorized contributions
Instantly get notified when important activity happens on your account with Scotia InfoAlerts
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.
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.
Frequently asked questions
Includes Regular Interest Rate of 1.40% plus a Package Interest Rate Boost of 0.05% for Preferred Package holders, 90-Day Premium Period Interest Rate of 0.85% and a Welcome Bonus Interest Rate of 3.10% for 3 months. Regular Interest plus a Package Interest Rate Boost of 0.05% for Preferred Package holders (or 0.10% for Ultimate 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.
The bonus interest rate (The “Bonus Rate”) applies to New Deposits (defined below) made into an eligible Scotiabank Savings Accelerator Account (“SSAA”) between August 14, 2023 and January 31, 2024 (the “Bonus Rate Period”). Eligible SSAAs include only those held within a First Home Savings Account (FHSA) at either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”). SSAAs held within a TFSA, RRSP, RRIF, LIF, Registered Locked-In RSP, RESP, RDSP or any other registered plan or non-registered account at Scotiabank are not eligible for this Bonus Rate.
During the Bonus Rate Period, the Bonus Rate of 4.25% will be earned only on that portion of the SSAA Daily Balance that is greater than the SSAA Daily Balance as of August 13 2023 (“New Deposits”). The “SSAA Daily Balance” means, with respect to any particular day, the closing balance in the eligible SSAA. In addition, New Deposits will continue to earn interest at the posted annual interest rate for the SSAA (click here for current rates).
The Bonus Rate will cease to apply as of February 1, 2024. The bonus interest earned during the Bonus Rate 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 Bonus Rate. 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 https://www.scotiabank.com/ca/en/personal/bank-accounts/savings-accounts/savings-accelerator-account.html for details, including calculation of interest.
By accepting this offer, you consent to receive messages from Scotiabank via e-mail, Scotia OnLine and/or the Scotiabank Mobile Banking App so that we can notify you when the Bonus Rate Period and the offer are expiring and what interest rate will take effect after the Bonus Rate Period expires. Should you ever need to change your email address, you can update it by calling us or going into a branch.
These offer terms, including the Bonus Rate, may be changed, cancelled or extended at any time, in whole or in part, without notice.
Scotia Securities Inc. is a mutual fund dealer and is a corporate entity, separate from, although wholly-owned by, The Bank of Nova Scotia ("Scotiabank"). ScotiaFunds are managed by 1832 Asset Management L.P. and are available from Scotia Securities Inc. 1832 Asset Management L.P. is a limited partnership the general partner of which is wholly-owned by Scotiabank. Scotia Smart Investor is a trade name of Scotia Securities Inc.