Scotiabank MomentumPLUS Savings Account: Limited Time Bonus Interest Offer 

Do you have any products or services with Scotiabank?

Yes, I do   

Great! Enroll in the Bonus Interest Rate Offer

Don’t have a MomentumPLUS Savings Account? You can open an account at the end of the enrollment.

I’m new to Scotiabank

Welcome! Open a MomentumPLUS Savings Account

Remember: After you open a MomentumPLUS Savings Account and receive your ScotiaCard, you’ll need to return to this page to sign in and enroll in the offer.

Here’s how you can earn a savings rate of up to 3.25%* interest until December 31, 2022:


(Current as of June 21, 2022. Previous interest rate was up to 2.95%)

  • Regular Interest Rate (0.55%)1,
  • Premium Period Interest Rate (up to 1.00%2, based on the premium period chosen; see here for rates),
  • Ultimate Package Interest Rate Boost (0.10%)3, and
  • Limited Time Bonus Interest Rate Offer (1.60%, previously 1.30%)

Here’s how to qualify for the Limited Time Bonus Interest Rate Offer

  1. Hold a Scotiabank MomentumPLUS Savings Account and an Ultimate Package within the Offer Period (defined below);
  2. Complete the Campaign Enrollment process by September 20, 2022 11:59 am EDT. For jointly held Accounts, all owners on the Account must enroll and agree to the Terms & Conditions; and
  3. Make an eligible deposit into your Scotiabank MomentumPLUS Savings Account.

The Bonus Interest Rate Offer is applicable to eligible new deposits deposited between March 3, 2022 and December 31, 2022 (the “Offer Period”) into a new or existing Scotiabank MomentumPLUS Savings Account. Bonus Interest is calculated daily at the Bonus Interest Rate of 1.00% on New Funds deposited between March 3, 2022– April 25, 2022  and at the Bonus Interest Rate of 1.30% on New Funds deposited between April 26, 2022– June 20, 2022 and at the Bonus interest Rate of 1.60% thereafter until December 31, 2022 up to a maximum of $5,000,000 of New Funds and will be paid monthly. Regular Interest is calculated daily, paid monthly. Interest rates are per annum and subject to change. Visit scotiabank.com/rates for current rates.

Additional terms apply. See Bonus Interest Rate Offer Terms & Conditions for full details, including a description of how Bonus Interest is calculated.

If you have products or services at Scotiabank, click here to enroll in the campaign.

If you don't, follow these 3 steps to enroll in the campaign:

  1. Open a MomentumPLUS Savings Account
  2. Activate your online banking when you receive your debit card
  3. Sign in to online banking to enroll
 

Make money while you wait.

Earn a savings rate of up to 3.25%* for a limited time with the MomentumPLUS Savings Account. The longer you wait, the higher your savings rate.

(Current rate as of June 21, 2022. Previous interest rate was up to 2.95%.)

Special Offer

Earn a savings rate of up to 3.25%* interest for a limited time

Enroll for Bonus Interest and make an eligible deposit by December 31, 2022.

Is this Savings Account right for you?

Right for you if you:

  • Want to earn higher interest the longer you save
  • 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:

  • Are interested in only opening a savings account that earns interest

Top reasons to choose this account

The longer you save, the higher your interest rate

Save for multiple goals in one account

No monthly account fees or minimum balance required

Choose the timeline and track as you earn

Enjoy a great everyday interest rate

With the MomentumPLUS Savings Account, you can earn a savings rate of up to 3.25%* for a limited time with:

Regular Interest Rate1 + Premium Period Interest Rate2 + Ultimate Interest Rate3 Boost + Bonus Interest Rate


Regular Interest1

0.55%

Premium Period Interest2

 

1.00%   |  360 days

0.95%   |  270 days

0.90%   |  180 days

0.85%  |  90 days

 
 Get the Ultimate Package and earn an additional 0.10%3


Bonus Interest

1.60%

until December 31, 2022 on eligible deposits

Regular Interest: Our everyday rate calculated daily, paid monthly.

Premium Period Interest: Calculated daily, paid at the end of each Premium Period as long as no debit transaction has occurred within that Premium Period.

Ultimate Package: Account holders receive an additional 0.10%3 annually added to any MomentumPLUS Savings Account held by the account holders. Calculated daily, paid monthly. 

Bonus Interest: Earn on eligible deposits made by December 31, 2022. Calculated daily, paid monthly.

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

 

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

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with an optional subtitle

Spend, save, and more all from one banking package.

Open an Ultimate Package and earn an additional 0.10%3 on your MomentumPLUS Savings Account! That’s a total of up to 3.25%* with our Ultimate Package.

Open your account

What you get with your account

Account Features

No monthly account fees or minimum balance required

Transfers

Unlimited self-service transfers4

Automatic Savings

Set up an automatic savings plan and watch your savings grow

Mobile and Online Banking

Transfer funds, view your transaction history, and more

Mobile Cheque Deposit

Take a picture of your cheque and deposit it into your account

All your savings goals. One savings account.

Account Details

Interest Rate

The longer you save, the higher your interest rate.

Current Interest Rates

CDIC Insurance

Eligible for CDIC Insurance

CDIC logo

Number of Self-Service Transfers4

Unlimited. Charge for each debit transaction that is not a Self-Service Transfer is $5.004

Account Fees

For complete details of your Monthly Record-Keeping Options and Fees, review Summary of Account Fees.

Here are some answers to our most popular questions:

Help me choose

Let's get started

Find out how you can reach all of your savings goals.

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In person

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*

Includes Regular Interest Rate of 0.55% plus an Interest Rate Boost of 0.10% for Ultimate Package account holders or 0.05% for Preferred Package account holders, 360-Day Premium Period Interest Rate of 1.00% and a limited time Bonus Interest Rate of 1.60% as of June 21, 2022 (previously 1.30%) on New Funds. 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 Interest Rate. Premium Period Interest is calculated daily, paid at the end of the applicable Premium Period. Bonus Interest is calculated daily at the Bonus Interest Rate of 1.00% on New Funds deposited between March 3, 2022– April 25, 2022 and at the Bonus Interest Rate of 1.30% on New Funds deposited between April 26, 2022– June 20, 2022 and at the Bonus interest Rate of 1.60% thereafter until December 31, 2022 up to a maximum of $5,000,000 of New Funds and will be paid monthly. Regular Interest is calculated daily, paid monthly. Interest rates are per annum and subject to change. Visit the Current Rates Page for more information.

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
Ultimate Package account holders will receive a boost to the Regular Interest Rate (the “Ultimate Interest Rate Boost”). Refer to the Current Rates Page on Scotiabank.com for the Total Annual Interest Rate applicable to the Ultimate Package (current Regular Interest Rate plus Ultimate Interest Rate Boost), which is subject to change at any time without advance notice. It will take up to 10 business days after activating an Ultimate Package account for the Ultimate Interest Rate Boost to apply. The Ultimate Interest Rate Boost will cease to apply effective as of the date that the Ultimate Package account is closed. The Ultimate 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.