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Grow your savings while you do life
Open and fund a MomentumPLUS Savings Account and earn our best rate yet.
Special offer
Earn a savings rate of up to 5.00%* for 5 months.
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.
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 5.00%* for 5 months with:
Regular Interest1 (1.50%) + Premium Period Interest2 (0.85% - 1.15%) + Package Interest Rate Boost3 (0.05% or 0.10%)+ Welcome Bonus Interest Rate* (2.25%)
Regular Interest1
1.50%
Premium Period Interest2
1.15% | 360 days
1.00% | 270 days
0.90% | 180 days
0.85% | 90 days
Get the Package Interest Rate Boost3 (0.05% or 0.10%)
Welcome Bonus Interest 2.25%*
on eligible deposits for 5 months from the date the Account was opened
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.
Package Interest Rate Boost: Account holders receive an additional 0.10%³ for Ultimate Package or 0.05%³ for Preferred Package annually added to any MomentumPLUS Savings Account held by the account holders. Calculated daily, paid monthly.
Welcome Bonus Interest: Earn on eligible deposits made for 5 months from the date the MomentumPLUS Savings Account was opened. Calculated daily, paid monthly.
Interest rates are per annum and subject to change. Visit the Current Rates Page for more information.
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 5.00%* 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
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:
Let's get started
Find out how you can reach all of your savings goals.
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*
Includes Regular Interest Rate of 1.50% plus a Package Interest Rate Boost of 0.10% for Ultimate Package holders, 360-Day Premium Period Interest Rate of 1.15% and a Welcome Bonus Interest Rate of 2.25% for 5 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 150 days (5 months) on your first MomentumPLUS Savings Account opened between February 14th 2023 and June 30th 2023. 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 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.