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Grow your savings while you do life
Open and fund a MomentumPLUS Savings Account and reward yourself with our best interest rate yet.
Special offer
Earn a savings rate of up to 5.00%* for the first 5 months.
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.
Not the account for you? Help me choose the right savings account.
Top reasons to choose this account
Account benefits
- No monthly account fees
- No minimum balance required; see summary of account fees
- Save for multiple goals in one account
- Unlimited self-service transfers4
Grow your money
- The longer you save, the higher your interest rate; see current interest rates
- Choose the premium period that suits your goals and track as you earn
- Set up an automatic savings plan
Scotia perks
- Transfer funds, view transaction history, and more using the Scotia mobile app or online banking
- Take a picture of your cheque and deposit into your account using Mobile Cheque Deposit
- Earn an interest boost with our banking packages.
Watch your savings grow over time
With the MomentumPLUS Savings Account, you can earn a savings rate of up to 5.00%* for the first 5 months.
Regular Interest Rate1
Open an account and make an eligible deposit to earn 1.40% regular interest rate.
Premium Period Interest Rate2
Start a premium period and get up to 1.25% additional interest rate.
Rate varies depending on the period selected:
1.25% | 360 days
1.00% | 270 days
0.90% | 180 days
0.85% | 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%
Welcome Bonus Interest Rate*
Get a 2.25% welcome bonus interest rate on eligible deposits for the first 5 months, if you open your first account between February 14th – June 30th 2023.
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.
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
The Preferred Package
Ideal for customers who: Need the everyday banking features, but also want the perks.
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.
Start reaching your savings goals today
Have questions?
Meet with a Scotia advisor
Use our online tool to schedule your visit.
Give us a call
We’re ready to give you advice.
CDIC Insurance
*
Includes Regular Interest Rate of 1.40% plus a Package Interest Rate Boost of 0.10% for Ultimate Package holders, 360-Day Premium Period Interest Rate of 1.25% and a Welcome Bonus Interest Rate of 2.25% for 5 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 150 days (5 months) on your first MomentumPLUS Savings Account opened between February 14th 2023 and June 30th 2023. Interest rates are per annum and subject to change. Visit the Current Rates Page for more information and current rates.
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.