Earn up to 2.70%* interest for a limited time.
Enroll for Bonus Interest and make an eligible deposit by August 31, 2020.
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 2.70%* interest for a limited time with:
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.
Bonus Interest: Earn on eligible deposits made by August 31, 2020. Calculated daily, paid monthly.
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.
Bank from the comfort of your home.
Open an Ultimate Package and earn an additional 0.10%3 on your MomentumPLUS Savings Account! That’s a total of up to 2.70%* with our Ultimate Package.
What you get with your account
No monthly account fees or minimum balance required
Unlimited self-service transfers4
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
Open a savings account online, without even leaving the couch.
Number of Self-Service Transfers4
Unlimited. Charge for each debit transaction that is not a Self-Service Transfer is $5.004
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:
Includes Regular Interest Rate of 0.15% plus an Interest Rate Boost of 0.10% for Ultimate Package account holders, 360-Day Premium Period Interest Rate of 1.10%, and a limited time Bonus Interest Rate of 1.35% 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, 2020 on the first $5,000,000 of New Funds deposited between April 9, 2020 – August 31, 2020 and will be paid monthly. Interest rates are per annum and subject to change. Visit scotiabank.com/rates for current rates.
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.
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 Regular Interest Rates, which are subject to change.
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.
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.