Bonus Interest Rate Offer Terms & Conditions

Effective July 14^th, 2020, the “Regular Interest Rate” decreased from 0.15% to 0.05% and the “Bonus Interest Rate” increased from 1.35% to 1.45%. All balances eligible for Bonus Interest will earn the revised Bonus Interest Rate as of this date.

1. Campaign Offer

The Bonus Interest Rate Offer (the “Offer”) is applicable to New Funds deposited between April 9, 2020 and August 31, 2020 (the “Offer Period”) into a new or existing Scotiabank Momentum^PLUS Savings Account. By accepting the Offer, you agree to these Bonus Interest Rate Offer Terms & Conditions (the “Terms & Conditions”).

2. Campaign Participation Requirements

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

a) Hold a Scotiabank Momentum^PLUS Savings Account as sole or primary owner within the Offer Period;

b) Deposit New Funds from other banks or financial institutions into your Scotiabank Momentum^PLUS Savings Account; and

c) Be a personal customer (non-personal customers, e.g. small business, are not eligible).

3. Definitions of Terms

*‘Bonus Interest’*	The interest earned under this Offer, calculated at the Bonus Interest Rate in accordance with these Terms & Conditions.
*‘Bonus Interest Rate’*	1.45% per annum (subject to change) Effective July 14th, 2020, the “Regular Interest Rate” decreased from 0.15% to 0.05% and the “Bonus Interest Rate” increased from 1.35% to 1.45%. All balances eligible for Bonus Interest will earn the revised Bonus Interest Rate as of this date.
*'Offer Period’*	April 9, 2020 at 12:01 a.m. EST – August 31, 2020 at 11:59 p.m. EST
*'New Funds’*	Funds from a non-Scotiabank source, including funds that did not originate from an existing Scotiabank Savings Account, Scotia Investment Account or Scotia Registered Account.
*‘Combined Balance’*	On any particular day, the combined end of day balance of funds held within all Scotiabank Savings Account(s)¹ (which includes Momentum^PLUS Savings Accounts, Scotia Investment Accounts² and Scotia Registered Accounts²), 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.
*‘Combined Increase’*	The excess of Combined Balance over Combined Starting Balance on any day during the Offer Period.
*‘Combined Starting Balance’*	The Combined Balance on April 8, 2020.
*‘Momentum^PLUS Savings Account’ or the “Account”*	Any Scotiabank Momentum^PLUS Savings Account open during the Offer Period.
*‘Momentum^PLUS Savings Account Increase’*	The excess of Momentum^PLUS Savings Account Balance over Momentum^PLUS Savings Account Starting Balance on any day during the Offer Period.
*‘Momentum^PLUS Savings Account Balance’*	On any particular day, the combined end of day balance in all Momentum^PLUS Savings Accounts.
*‘Momentum^PLUS Savings Account Starting Balance’*	The Momentum^PLUS Savings Account Balance on April 8, 2020, provided that any Momentum^PLUS Savings Account(s) not open on that date will be deemed to have a $0 end of day balance.
*‘you’*	The individual who is eligible for this Offer.

4. 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 calculated on the lower of:

a) Momentum^PLUS Savings Account Increase;

b) Combined Increase; and

c) $5,000,000

The actual date at which you enroll in accordance with paragraph 2(b) does not affect this calculation.

5. Payment of Bonus Interest

a) You will see Bonus Interest payments on your online Momentum^PLUS Savings Account Transaction History as ‘Campaign Bonus Interest’. It will be deposited into your Momentum^PLUS Savings Account within 7 days after the end of each campaign month (Example: May 7, June 7, July 7, etc.) in which you are enrolled under Paragraph 2(b). Where an enrollment takes place on the last day of a month, Bonus Interest will be paid within 7 days after the end of the subsequent month-end (Example: If you enroll on May 31, payment will occur on July 7).

b) 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. For example, a customer who is a sole owner on a Momentum^PLUS Savings Account as well as a primary joint accountholder on another Momentum^PLUS Savings Account will see Bonus Interest for all balances in both accounts paid to their sole Momentum^PLUS Savings Account.

c) 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.

6. General Terms

a) 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.

b) All other terms and conditions of the Scotiabank Momentum^PLUS Savings Account continue to apply. Refer to www.scotiabank.com/mp for details.

c) 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 or operation 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.

d) During the Offer Period, Bonus Interest will earn interest at the Regular Interest Rate, starting one day after the day on which the Bonus Interest was deposited to the relevant account. Bonus Interest deposited in June and August during the Offer Period will earn interest at the Bonus Interest Rate, starting two days after the day on which the Bonus Interest was deposited. Bonus Interest deposited in other months during the Offer Period will earn interest at the Bonus Interest Rate, starting three days after the day on which the Bonus Interest was deposited.

Scotiabank Savings Accounts include Scotiabank Money Master® Savings Account, Scotia Power Savings Account^TM, Scotiabank Savings Accelerator Account, Scotiabank Momentum Savings Account, Scotiabank Momentum^PLUS Savings Account, Scotia US Dollar Interest Account and Scotia Euro Interest Savings Account. Money held in a Scotia US Dollar Interest Account or Scotia Euro Interest Savings Account will be calculated at par with the Canadian dollar.

For additional information on Scotia Investment Accounts and Scotia Registered Accounts, refer to the Investment Companion Booklet on Scotiabank.com.

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