MomentumPLUS Savings Account

Save for multiple goals in one account and get a higher interest rate the longer you save.

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Top reasons to choose this account

No monthly account fees

No minimum balance required; see summary of account fees

Save for multiple goals in one account

Unlimited self-service transfers4

 

Watch your savings grow over time

Regular Interest Rate1

Open an account and make an eligible deposit to earn 0.40% regular interest rate. 

Premium Period Interest Rate2

Start a premium period and earn additional interest based on the premium period chosen.

 

0.45%  |  360 days
0.30%  |  270 days
0.25%  |  180 days
0.20%   |  90 days

Package Interest Rate boost3

Ultimate Package  customers earn an additional interest rate boost of 0.10%.

 

Preferred Package customers earn an additional interest rate boost of 0.05%.

Interest rates are per annum and subject to change. Visit the Current Rates page for more information.

Frequently asked questions

If you can’t find what you’re looking for, you may be able to find it in the Help Centre.

Not sure if this is the account for you?

This account might not be right if you
  • Want to use for everyday banking such as purchases, ABM transactions, and payroll deposits
Discover better options

Spend, save, and more all from one banking package 

Plus earn a higher rate when you bundle the MomentumPLUS Savings account with one of our chequing accounts.

Most perks

The Ultimate Package

Ideal for customers who: Want a unique banking package with premium perks.

Most popular
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The Preferred Package

Ideal for customers who: Need the everyday banking features, but also want the perks.

Find out how much interest you can earn with the MomentumPLUS Savings Account

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Get smarter with your money. Get Advice+

Scotia Advice+ is here to give you advice that’s easy to understand, informative, and tailored to you. We’ll help you build a plan with a chequing account for everyday needs and a savings account for future financial needs.

Visit the Advice+ CentreGo to Advice+ Centre home page
Read more bank account articlesGo to Advice+ features

Start reaching your savings goals today

Start saving now Apply for the Momentum PLUS Savings Account

Have questions?

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Call us at 1-800-747-3208

Eligible for CDIC Insurance

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1

Regular Interest is calculated by applying the Regular Interest Rate to your daily closing balance and is paid monthly. Refer to Current Rates Page for current Regular Interest Rates, which are subject to change.

2
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 Premium Interest Rates, which are subject to change.
3
Preferred and Ultimate Package account holders will receive the applicable Package boost to the Regular Interest Rate (the "Package Interest Rate Boost”). Refer to the Current Rates Page on Scotiabank.com for the Total Annual Interest Rate applicable to the Preferred Package and Ultimate Package (current Regular Interest Rate, plus Premium Period Interest Rate, plus Preferred/Ultimate Package Interest Rate Boost, as applicable), which is subject to change at any time without advance notice. It will take up to 10 business days after activating a Preferred or Ultimate Package account for the applicable Package Interest Rate Boost to apply. The applicable Package Interest Rate Boost will cease to apply effective as of the date that the Preferred/Ultimate Package account is closed. The Package Interest Rate Boost is an annual rate calculated daily on the MomentumPLUS Savings Account(s) closing balance and paid monthly.
4
Self-Service Transfer means a transfer to your other Scotiabank account without the help of a Teller, including through Scotia OnLine®, Scotiabank Mobile Banking and Contact Centre. The MomentumPLUS Savings Account does not have ABM or Point of Sale access or automated direct bill payment functionality.