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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.

Do you have any products or services with Scotiabank?

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Sign in so we can link your customer profile to your application.

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Get started by choosing a rewards program for this account.

Scotia Rewards® points for travel and more

SCENE®* Rewards points for movies and meals

I don’t want rewards

Here’s how you can earn up to 1.80%* interest until August 31, 2021:

  • Regular Interest Rate (0.05%)1,
  • Premium Period Interest Rate (up to 0.45%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 (1.20%)

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 August 31, 2021 11:59 pm EST. 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 deposits from another bank or financial institution deposited between April 1, 2021 and August 31, 2021 (the “Offer Period”) into a new or existing Scotiabank MomentumPLUS Savings Account.

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

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

 

 

Do more, save more.
The MomentumPLUS Savings Account

Earn a savings rate of up to 1.80%* for a limited time.

Special offer

Earn up to 1.80%* interest for a limited time

Enroll for Bonus Interest and make an eligible deposit by August 31, 2021.
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 1.80%* interest for a limited time 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. 

Bonus Interest: Earn on eligible deposits made by August 31, 2021. 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 1.80%* 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
 
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.

Let's get started

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

Online

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By phone

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In person

Talk to a Scotiabank Advisor

Here are some answers to our most popular questions:

No, in order to earn interest at the annual rate of 1.80% until August 31, 2021, you must choose a 360-day Premium Period and have the Ultimate Package account. If you choose another Premium Period (90-day, 180-day, or 270-day), you will still earn a Bonus Interest Rate of 1.20% until August 31, 2021 but you will earn a Total Annual Interest Rate lower than 1.80% depending on which Premium Period and banking package (Preferred or Ultimate) you have. Visit the Current Rate Page for more information on Premium Period interest rates and Package Account interest rate boosts. All rates are subject to change and annual interest rates. 

No, the primary or sole owner of a MomentumPLUS Savings Account can only earn Bonus Interest until August 31, 2021 when the Bonus Interest rate expires.

For example, you can earn interest at the annual rate of 1.80% until August 31, 2021 with a combination of:

  • Regular Interest Rate of 0.05%
  • Ultimate Interest Rate Boost of 0.10%
  • 360-day Premium Interest Rate of 0.45%
  • Bonus Interest Rate of 1.20% (until August 31, 2021)

After August 31, 2021, the Bonus Interest Rate of 1.20% will no longer apply and using the above example, you will continue to earn the Regular Interest Rate, Ultimate Interest Rate Boost, and 360-day Premium Interest Rate for the duration of the 360-day Premium Period in accordance with the terms and conditions found in our Day-to-Day Banking Companion Booklet. Refer to Current Rate Page for current interest rates, which are subject to change.

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

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 or 0.05% for Preferred Package account holders, 360-Day Premium Period Interest Rate of 0.45%, and a limited time Bonus Interest Rate of 1.20% on New Funds. 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. Bonus Interest is calculated daily and payable until August 31, 2021 on the first $5,000,000 of New Funds deposited between April 1, 2021 – August 31, 2021 and will be paid monthly. 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 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.