Momentum^PLUS Savings Account

Take the stress out of saving and reward yourself with a great interest rate.

Earn a savings rate of up to 5.25%* for the first 3 months. See offer details.

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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

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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 Momentum^PLUS Savings Account, you can earn a savings rate of up to 5.25%* for the first 3 months.

Regular Interest Rate¹

Open an account and make an eligible deposit to earn 0.90% regular interest rate.

Premium Period Interest Rate²

Start a premium period and earn up to 0.60% based on the premium period chosen:

0.60% | 360 days
0.40%  | 270 days
0.35%  | 180 days
0.30%   | 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 3.65% welcome bonus interest rate on eligible deposits for the first 3 months, if you open your first account.

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.

The Premium Interest rate for deposit is based on the:

Length of the Premium Period; or
Length of time a deposit is made after the Premium Period begins, and is based on the number of days remaining in the Premium Period.

The following table explains the rate you receive based on when you make an additional deposit.

Days before Premium end-date	Premium Interest Rate
90 days or less	90-day Premium Interest Rate
More than 90 but less than 180 days	180-day Premium Interest Rate
More than 180 but less than 270 days	270-day Premium Interest Rate
More than 270 days	360-day Premium Interest Rate

Yes, you can withdraw your money any time. If you conduct a debit transaction before a Premium Period end-date, you’ll still earn Regular Interest but will forgo any accrued Premium Interest.

A new Premium Period of the same duration will automatically re-start the same day with your remaining balance. If you have more than one Premium Period, only the Premium Period you withdraw from will be affected.

First, you earn a Regular Interest rate (and if you have an Ultimate or Preferred Package, the applicable Package Interest Rate Boost), which is applied to your daily closing balance and is paid monthly.

Second, you can earn a Premium Interest rate when you open a Premium Period(s), each of which can have a length of 90, 180, 270 or 360 days. For each Premium Period, Premium Interest is calculated by applying the Premium Interest rate to each deposit, and any paid Regular Interest, each day until the end of the Premium Period. Premium Interest is only paid at the end of the Premium Period, and only if no debit transactions were made within the Premium Period.

No, you do not need to enroll in the Welcome Bonus Interest Rate offer.
Note: If multiple Momentum^PLUS Savings Accounts are opened on the same day, only the account that has the largest account number will be eligible for the Offer. For example, if two Momentum^PLUS Savings Accounts are opened on the same day with account numbers 1234 and 1236, only the account with the higher number (1236) will be eligible for the Offer. Eligible customers opening their first Momentum^PLUS Savings Account will automatically receive the Welcome Bonus Interest Rate offer. For full terms and conditions, please visit the Welcome Bonus Interest Rate Offer Terms & Conditions.

Spend, save, and more all from one banking package

Plus earn a higher rate when you bundle the Momentum^PLUS 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.

View the Ultimate Package

The Preferred Package

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

View the Preferred Package

Find out how much interest you can earn with the Momentum^PLUS 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+ Centre

Start reaching your savings goals today

Start saving now

Have questions?

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Use our online tool to schedule your visit.

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Call us at 1-800-747-3208

CDIC Insurance

Eligible for CDIC Insurance

Terms and conditions

*

Includes Regular Interest Rate of 0.90% plus a Package Interest Rate Boost of 0.10% for Ultimate Package holders, 360-Day Premium Period Interest Rate of 0.60% and a Welcome Bonus Interest Rate of 3.65% 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 Momentum^PLUS Savings Account opened. 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 Momentum^PLUS 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 Momentum^PLUS Savings Account does not have ABM or Point of Sale access or automated direct bill payment functionality.

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