Momentum^PLUS Savings Account (MPSA) Balance Build — Terms & Conditions

The MPSA Balance Build Offer (the “Offer”) is applicable to Eligible Deposits made between May 31^st, 2023 and November 30^th, 2023 into a new or existing Scotiabank Momentum^PLUS Savings Account subject to these Offer Terms & Conditions (“Terms & Conditions”). By making an Eligible Deposit during the Offer Period, you are deemed to have accepted the Offer, and agree to these Terms & Conditions and consent to receive communications from Scotiabank electronically via email that notify you when the Offer Period is expiring and of any changes to your Account(s) that will take effect after the Offer Period ends.

Eligibility Requirements

To be eligible for the Offer, you must satisfy ALL of the following conditions:

Receive the Offer directly from Scotiabank.
Hold a Scotiabank Momentum^PLUS Savings Account in good standing as sole or primary owner within the Offer Period.
Make an Eligible Deposit into your Scotiabank Momentum^PLUSSavings Account during the Offer Period.

Definitions

‘Bonus Interest’	The interest earned under this Offer, calculated at the Bonus Interest Rate in accordance with these Terms & Conditions.
‘Bonus Interest Rate’	2.30% per annum as of August 31^st, 2023 (subject to change), up from 2.20% per annum
	May 31 to July 10, 2023	2.05% per annum
	July 11, 2023 to August 30, 2023	2.20% per annum
	August 31, 2023	2.30% per annum (subject to change)
'Offer Period’	May 31^st 2023 at 12:01 a.m. EDT– November 30^th, 2023 at 11:59 p.m. EST
‘Eligible Deposits’	Funds, up to a maximum of $5,000,000, originating from a non-Scotiabank account or a Scotiabank account other than a Scotiabank Savings Account, Scotia Investment Account¹ or Scotia Registered Account¹ deposited in your eligible Momentum^PLUS Savings Account(s) that will earn Bonus Interest for each day during the Offer Period calculated on the lower of: Momentum^PLUS Savings Account Increase; and Combined Increase; See ‘Examples of Eligible & Not Eligible Deposits’ below.
‘Combined Balance’	On any given day, the combined end of day balance of funds (in Canadian dollars) held within all Scotiabank Savings Account(s) (which includes Momentum^PLUS Savings Accounts, Scotia Investment Accounts¹ and Scotia Registered Accounts¹), of which you are the sole owner or, for joint account(s), the primary owner, but excludes mutual funds, and balances held in chequing accounts and First Home Savings Accounts. Note that for the purposes of calculating Combined Balance, funds held in a Scotia US Dollar Interest Account or Scotia Euro Interest Savings Account will be calculated at par with the Canadian dollar (e.g., USD/EUR $500 = CAD $500).
‘Combined Increase’	The difference between the Combined Balance and the Combined Starting Balance, on any given day, during the offer period.
‘Combined Starting Balance’	End of the day Combined Balance on May 30^th, 2023.
‘Momentum^PLUS Savings Account’ or the “Account”	Any Scotiabank Momentum^PLUS Savings Account open and in good standing during the Offer Period.
‘Momentum^PLUS Savings Account Increase’	The difference between the Momentum^PLUS Savings Account Balance and the Momentum^PLUS Savings Account Starting Balance, on any given day, during the Offer Period.
‘Momentum^PLUS Savings Account Balance’	On any given day, the combined end of day balance of funds held within all eligible Momentum^PLUS Savings Account(s) of which you are the sole owner or, for joint account(s), the primary owner.
‘Momentum^PLUS Savings Account Starting Balance’	The end of day Momentum^PLUS Savings Account Balance on May 30^th, 2023.
‘Scotiabank Savings Account(s)’	Includes Scotiabank Money Master Savings Account, Scotia Power Savings Account, Scotiabank Savings Accelerator Account, Scotiabank Momentum Savings Account, Scotiabank Momentum^PLUS Savings Account, Scotia US Dollar Interest Account and Scotia Euro Interest Savings Account, Scotia Investment Accounts¹ and Scotia Registered Accounts¹, of which you are the sole owner or, for joint account(s), the primary owner.
‘Scotiabank’	The Bank of Nova Scotia and, as applicable, any of our Canadian subsidiaries, including but not limited to Scotia Securities Inc. and Scotia Capital Inc.
‘you’	The individual who is eligible for this Offer.

Examples of Eligible Deposits

Eligible	Customer’s Combined Starting Balance is $50,000. During the Offer Period the customer deposits $100,000 to their MPSA from an eligible source. There was no change to the balances of other ‘Scotiabank Savings Accounts’. The entire $100,000 is eligible for Bonus Interest because the Combined Increase is $100,000 (Combined Balance of $150,000 is $100,000 more than the Combined Starting Balance of $50,000).
Eligible	Customer’s Combined Starting Balance is $50,000. During the Offer Period, the customer deposits $100,000 to their MPSA from an eligible source. During the Offer Period, the customer withdraws $30,000 from their Money Master Savings Account. Only $70,000 of the deposit is eligible for Bonus Interest because the Combined Increase is $70,000 (Combined Balance of $120,000 is $70,000 more than the Combined Starting Balance of $50,000).
Not Eligible	Customer’s Combined Starting Balance is $100,000. During the Offer Period the customer deposits $100,000 to their MPSA from an eligible source. During the Offer Period, the customer withdraws $100,000 from their Money Master Savings Account. Customer is not eligible for Bonus Interest because the Combined Increase is $0 (Combined Balance of $100,000 is equal to the Combined Starting Balance of $100,000).

Eligible

Customer’s Combined Starting Balance is $50,000.

During the Offer Period the customer deposits $100,000 to their MPSA from an eligible source. There was no change to the balances of other ‘Scotiabank Savings Accounts’.

The entire $100,000 is eligible for Bonus Interest because the Combined Increase is $100,000 (Combined Balance of $150,000 is $100,000 more than the Combined Starting Balance of $50,000).

Eligible

Customer’s Combined Starting Balance is $50,000. During the Offer Period, the customer deposits $100,000 to their MPSA from an eligible source.

During the Offer Period, the customer withdraws $30,000 from their Money Master Savings Account.

Only $70,000 of the deposit is eligible for Bonus Interest because the Combined Increase is $70,000 (Combined Balance of $120,000 is $70,000 more than the Combined Starting Balance of $50,000).

Not Eligible

Customer’s Combined Starting Balance is $100,000. During the Offer Period the customer deposits $100,000 to their MPSA from an eligible source.

During the Offer Period, the customer withdraws $100,000 from their Money Master Savings Account.

Customer is not eligible for Bonus Interest because the Combined Increase is $0 (Combined Balance of $100,000 is equal to the Combined Starting Balance of $100,000).

Calculation of Bonus Interest

In addition to any other interest payable on the Momentum^PLUS Savings Account(s), for each day during the Offer Period, you will earn Bonus Interest on the Eligible Deposits in your eligible Momentum^PLUS Savings Account(s).

In addition to the Bonus Interest paid on Eligible Deposits as described above, you will also earn Bonus Interest on the following types of Interest Payments outlined below:

Type of Interest Payment:	How bonus interest is calculated:
Regular Interest Payments	Regular interest payment will start earning Bonus Interest on the first day of the following month except that if the first day of the month is a holiday or Sunday, then the regular interest payment will start earning Bonus Interest on the next calendar day (excluding Sundays and Holidays). For example, the regular interest payment for the month of June 2023 will start earning Bonus Interest on July 4, 2023 since July 1 is a holiday and July 2 is a Sunday and the next business day is July 4. Similarly, the regular interest payment for the month of September 2023 will start earning Bonus Interest on October 3, 2023 since October 1 is a Sunday, and the next business day is October 3.
Preferred or Ultimate Interest Rate Boost Payments	Preferred or Ultimate interest rate boost payment will start earning Bonus Interest on the first day of the following month except that if the first day of the month is a holiday or Sunday, then the Preferred or Ultimate interest rate boost payment will start earning Bonus Interest on the next calendar day (excluding Sundays and Holidays). Please see the examples above for regular interest payments.
Premium Period Interest Payments	Premium period interest payment will start earning Bonus Interest on the next calendar day (excluding Sundays and Holidays) after the day on which the premium period interest payment was deposited.
Bonus Interest Payments	Bonus Interest paid in July, August, October, and November 2023 will start earning Bonus Interest two (2) calendar days after the Bonus Interest was deposited.
	Bonus Interest paid in June 2023 will start earning Bonus Interest three (3) calendar days after the Bonus Interest was deposited.
	Bonus Interest paid in September 2023 will start earning Bonus Interest four (4) calendar days after the Bonus Interest was deposited.

Payment of Bonus Interest

Provided you have satisfied all Offer conditions, Bonus Interest payments will be deposited into your Momentum^PLUS Savings Account within 7 days after the end of each campaign month (Example: June 7, July 7, etc.). Bonus Interest payments will appear as ‘Campaign Bonus Interest’ on your online Momentum^PLUS Savings Account Transaction History. If for technical or other reasons the Bonus Interest payments are not deposited into your Momentum^PLUS Savings Account as described above, you will receive a lump sum payment of your total Bonus Interest payments no later than 120 days after the Offer Period ends.
Bonus Interest will be paid into the solely owned Momentum^PLUS Savings Account with the highest balance or, if there is no solely owned Momentum^PLUS Savings Account, it will be paid into the joint Momentum^PLUS Savings Account (for which you are primary owner) with the highest balance.
Applicable tax receipts for income earned will be issued in the name of the account holder(s) of the Momentum^PLUS Savings Account(s) to where the interest has been paid.

General Terms

Momentum^PLUS Savings Accounts must be open and in good standing at the time of Bonus Interest payout in order for the Bonus Interest to be paid. For purposes of this Offer, a Momentum^PLUS Savings Account is not in ‘good standing’ if it has a negative balance.
All other terms and conditions of the Scotiabank Momentum^PLUS Savings Account continue to apply. Refer to www.scotiabank.com/mp for details.
Scotiabank reserves the right, at its sole discretion, to suspend, extend, modify, limit or revoke this Offer at any time including, without limitation, amending the time periods for eligibility and to disqualify any account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, integrity, operation of this Offer or who otherwise is deemed ineligible.
Scotiabank reserves the right at its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure, promotional materials or statements, or any other communication regarding this Offer, whether written or oral from Scotiabank, except where otherwise stated.
Scotiabank reserves the right at its sole discretion, without advance notice, to extend, suspend, terminate, or otherwise modify the Offer, in whole or in part or for select customers, for any reason or if the Offer can't run as planned including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the reasonable control of Scotiabank which corrupt or affect the administration, security or proper conduct of this Offer.
Scotiabank reserves the right to change interest rates at any time, and without notice. This Offer cannot be combined with any other offer except as permitted by Scotiabank.

For a list of Scotia Investment Accounts and Scotia Registered Accounts, refer to the Investment Companion Booklet on Scotiabank.com.

MomentumPLUS Savings Account (MPSA) Balance Build — Terms & Conditions