Welcome Bonus Interest Rate Offer

1) General

The 1.80% Welcome Bonus Interest Rate Offer (the “Offer”) is only available on new MomentumPLUS Savings Accounts (“Account(s)”) opened between November 8th 2022 and March 31st 2023.

The Offer rate of 1.80% (the “Bonus Rate”) will apply to deposits made to the Account for 150 days (5 months) from the date the Account was opened (the “Bonus Rate Period”). If the Account is opened on a statutory holiday or Sunday, the Bonus Rate Period will begin on the first business day after the Account is opened.

2) Eligibility

Individuals who are currently or were previously a holder of a MomentumPLUS Savings Account within the last 2 years are not eligible for the Offer. For joint accounts, at least one individual cannot currently or previously be a holder of a MomentumPLUS Savings Account within the last 2 years, to qualify for the Offer.

3) Interest calculation

The Bonus Rate is an annualized rate and interest is calculated daily and paid monthly. After the Bonus Rate Period ends, the balance in the Account will earn interest at the then current posted Total Annual Interest Rate for the Account (which includes the Regular Interest Rate and Premium Period Interest Rate and, if applicable, the Ultimate Interest Rate Boost or the Preferred Interest Rate Boost).

Refer to Current Rates Page for current interest rates, which are subject to change.

4) Restrictions

Account must be open and in good standing at the time of any Bonus Rate payout in order to be paid. For purposes of this Offer, an Account is not in 'good standing' if it has a negative balance, or the Account holder is in breach of the Account agreement with Scotiabank.

Limit of one (1) Offer per customer; Bonus Rate will only apply to the first eligible Account opened. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.

All other terms and conditions of the Account continue to apply. Refer to the Day-to-Day Banking Companion Booklet.

By accepting this Offer, you consent to receive emails via your e-mail address that we have on our records. These emails will notify you of when the Bonus Rate Period is expiring and what interest rate will take effect after the Bonus Rate Period expires.