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The MomentumPLUS Savings Account

All your savings goals. One savings account.

Scotiabank MomentumPLUS Savings Account
Start saving now

Top reasons to choose this account

Save for multiple goals in one account

Choose the timeline and track as you earn

The longer you save, the higher your interest rate

Enjoy a great everyday interest rate

With the MomentumPLUS Savings Account, you can earn up to 0.75%* interest with:
Regular and Premium Interest

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. 

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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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 0.75%* with our Ultimate Package.

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

Eligible for CDIC Insurance
 
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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.

Scotiabank MomentumPLUS Savings Account

Find out how you can reach all of your savings goals. Let's get started.

Online

100% safe & secure

Enroll online
By phone

Prefer to talk to us?

Call us 1 (800) 747-3208
In person

Talk to a Scotiabank Advisor

Find a branch near you

Here are some answers to our most popular questions:

First, you earn a Regular Interest rate, 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.

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 and will lose 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.

The Premium Interest rate for deposit is based on the:

  1. Length of the Premium Period; or
  2. 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

If you haven’t yet activated your account for online and mobile banking, visit the Activate Now page of our website to get started.

You’ll need your ScotiaCard number, credit card number, or account number for your line of credit, investment, loan, or mortgage. If you have both a Scotiabank debit card and a credit card/account number, please use your ScotiaCard number to register.

You can update your password through mobile or online banking.

Mobile banking:

  1. On the sign-in screen, tap Forgot your username or password?
  2. Select password
  3. Enter your username or ScotiaCard number
  4. Follow the instructions to reset your password

Online banking:

  1. On the sign-in page, select Forgot your username or password?
  2. Select password
  3. Follow the instructions to reset your password
  4. Now is a good time to also review or update your security questions or answers
*

Includes Regular Interest Rate of 0.05% plus an Interest Rate Boost of 0.10% for Ultimate Package account holders and 360-Day Premium Period Interest Rate of 0.60%. Regular Interest 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. Premium Period Interest is calculated daily, paid at the end of the applicable Premium Period. Interest rates are per annum and subject to change. Visit scotiabank.com/rates for 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

Ultimate Package account holders receive an additional 0.10% annually added to the annual Regular Interest Rate of any MomentumPLUS Savings Account (the “0.10% Interest Rate Boost”) held by the Ultimate Package account holders. It will take 10 business days after opening an Ultimate Package account for the 0.10% Interest Rate Boost to apply to MomentumPLUS Savings Account(s). The 0.10% Interest Rate Boost will cease to apply effective the Ultimate Package closing date. The Regular Interest Rate plus the 0.10% Interest Rate Boost is calculated daily on the MomentumPLUS Savings Account(s) closing balance and paid monthly. Refer to the Current Rates Page on Scotiabank.com for current interest rates, which are subject to change at any time without advance notice.

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.