Savings Accelerator Account

Earn a competitive interest rate on your money as it grows, with no monthly account fee. Available in registered§ and non-registered plans.

Special Offer

From February 1 to May 31, earn an interest rate of up to 5.10% on new FHSA deposits with the Savings Accelerator Account.


Learn more about the First Home Savings Account (FHSA).

Is this Savings Account right for you?

Right for you if you:

  • Want to have a higher interest rate for a larger balance
  • Want to set up pre-authorized contributions easily
  • 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

Available to add on to any non-registered or registered plan

The higher your balance, the higher your interest rate

Unlimited no-fee self-service transfer to your other Scotiabank accounts1

No monthly fees

Save automatically with pre-authorized contributions

Free quarterly personal portfolio statements

How the Savings Accelerator works

Our step-by-step guide to get you saving.

Step 1

Open a non-registered or registered plan, such as a TFSA, RRSP, or RESP.

Step 2

Add the Savings Accelerator and earn a competitive interest rate.

Do more with your plan

Add an investment product to grow your money faster, such as mutual funds or GICs.

See how opening an account will make your savings grow. 

How to open an account

You’re an existing customer with a registered plan

Open a Savings Accelerator account online.

You’re an existing customer, but you don’t have a registered plan

Open a registered plan first and then add on the Savings Accelerator.

You’re a new customer to Scotiabank

Book at an appointment online with a Scotia Advisor to open your account.

Account details

Account Fees

For more details about our monthly record-keeping options and fees, review the summary of account fees.

Interest Rate

The higher your balance, the higher your interest rate. View current interest rates.

Withdrawal Fees 

TFSA and Non-Registered Plans

You have unlimited no-fee self-service transfers to other accounts using Scotia OnLine, mobile banking, or over the phone. A $5 service charge applies for any in-branch transaction. Standard fees apply for transfers to non-Scotiabank TFSAs. 

Registered Plans

For more information about investment plan withdrawal and transfer fees, including for RESPs, RRSPs, and other registered plans, view our Investment Companion Booklet.

No ABM access

Tools and advice 

Get started with financial planning

Planning your financial future can feel overwhelming for some, but you don’t have to do it alone. Find out what a financial plan is, why having a plan is important, and what elements go into making a plan.

Get started with investing

There’s a lot to understand if you’re investing for the first time. This how-to investment guide will take you through the basics, so you can feel confident in your investment strategy.

Scotiabank Budget Calculator

A great way to plan for your financial future is to understand where you are now. Use our calculator for a better picture of your finances and to see if you have additional funds available to put towards your goals.

Get advice 

Your financial plan can start with a simple conversation. Give us a call to book a meeting with one of our advisors.