Building your emergency fund
Life is often filled with surprises. When it comes to unforeseen events like job loss, illness, or major home repairs, it’s important to be financially prepared.
Everyone experiences a cash crunch
Some call it emergency funds, while others call it savings. Whatever the label, setting aside enough to fund your personal expenses is a good idea to help survive those rainy days.
Small savings can add up
See where you can cut costs and put away a few extra dollars toward your growing emergency fund. A good goal is to have an emergency fund that covers at least three to six months of total living expenses.
Registered plan for your emergency savings
Start planning today with the help of a Scotia advisor.
Products for your emergency savings
Having access to a ready reserve of cash will prevent you from taking on additional debt.
Introducing Advice+ from Scotiabank
Investing for the future is important, but so is enjoying your life today. Get financial advice from Scotiabank that’s easy to understand, informative, and tailored to you. Together, we’ll build a plan that fits your life today and tomorrow.
Build a plan for your future with Scotiabank
Get personalized advice from our team of advisors and investment specialists across Canada.
Connect with us in a way that’s convenient for you. Scotia advisors are available in every branch to help you understand, plan, and execute the right financial plan.
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The 1.30% Promotional Interest Offer (the “Offer”) applies to New Deposits (defined below) made into an eligible Scotiabank Savings Accelerator Account (“SSAA”) between December 1, 2021 and April 30, 2022 (the “Offer Period”). Eligible SSAAs include only those held within a Registered Retirement Savings Plan (RRSP) or a Tax-Free Savings Account (TFSA). SSAAs held within a RRIF, LIF, Registered Locked-In RSP, RESP, RDSP or any other registered plan or non-registered plan are not eligible for this Offer.
During the Offer Period, promotional interest of 1.30% will be earned only on that portion of the SSAA Daily Balance that is greater than the SSAA Daily Balance as of November 30, 2021 (“New Deposits”). The “SSAA Daily Balance” means, with respect to any particular day, the closing balance in the eligible SSAA.
Promotional interest earned will be calculated at a promotional interest rate of 1.20% or 1.25% (the “Promotional Interest Rate”) plus the regular interest rate that applies to the eligible SSAA for a total effective interest rate of 1.30% during the Offer Period and only for New Deposits, as follows:
- If the SSAA Daily Balance is $250,000 or more: regular interest rate is 0.10% plus a Promotional Interest Rate of 1.20% for a total interest rate of 1.30%.
- If the SSAA Daily Balance is less than $250,000: regular interest rate is 0.05% plus a Promotional Interest Rate of 1.25% for a total interest rate of 1.30%.
The above regular interest rates are effective as of December 1, 2021 and are subject to change at any time without prior notice, resulting in a corresponding change to the Promotional Interest Rate so that the interest earned during the Offer Period on New Deposits will remain at 1.30%. Please click here for current regular interest rates.
The Promotional Interest Rate will cease to apply as of May 1, 2022. All promotional and regular interest earned during the Offer Period will be calculated daily and paid monthly. All interest rates described herein are annual rates.
SSAAs must be open and in good standing in order to receive any interest calculated at the Promotional Interest Rate. For purposes of this Offer, a SSAA is not in 'good standing' if it has a negative balance or the account holder is in breach of the account agreement with Scotiabank.
It is the SSAA account holder’s responsibility to determine his or her maximum allowable annual contributions in SSAAs held in registered plans.
All other terms and conditions of the SSAA continue to apply, refer to www.scotiabank.com/ca/en/personal/bank-accounts/savings-accounts/savings-accelerator-account.html for details.
This Offer, including the Promotional Interest Rate, may be changed, cancelled or extended at any time, in whole or in part, without notice.
The Scotiabank Investment Plan $150 Welcome Offer (the “Offer”) is available to individuals who open their first Eligible Investment Plan between December 1, 2021 and January 31, 2022 (the “Offer Period”) and complete certain qualifying activities.
For the purposes of this offer, “Eligible Investment Plan” means any of the following Scotia Registered Accounts: Scotia Registered Retirement Savings Plans (RRSPs, excluding Locked-In Plans such as LIRAs and LRSPs) or Scotia Tax-Free Savings Accounts (TFSAs).
Scotia RRIFs, RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer.
In order to qualify as a ‘first’ Eligible Investment Plan, the individual cannot have held the same type of Eligible Investment Plan with either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”) in the 6 months preceding the Offer Period.
To qualify for the Offer:
1) Open your first Eligible Investment Plan during the Offer Period;
2) By March 1, 2022, contribute or transfer-in a minimum of $3,000* across your first Eligible Investment Plan(s) and maintain that minimum of $3,000* until April 30, 2022; and
3) By January 31, 2022, set up a monthly recurring pre-authorized contribution (PAC) of at least $100 in any of the Eligible Investment Plan(s), which must have recurred monthly for a minimum of 3 consecutive months by April 30, 2022.
*For purposes of qualifying for this Offer, the book value of the contributions and/or transfers-in will be used to determine eligibility.
Customers are responsible to confirm their contribution limits noted on their most current Notice of Assessment issued by the Canada Revenue Agency prior to making any contribution to their Eligible Investment Plan(s). Scotiabank is not responsible for any contribution over a customer’s limit in connection with this Offer. The $150 cash bonus will not be considered a contribution and therefore will not impact contribution limits.
The $150 cash bonus will be paid into your Eligible Investment Plan by June 30, 2022 following the satisfaction of the conditions outlined above. Your Eligible Investment Plan(s) must be open and in good standing at the time of the cash bonus payout. For purposes of this Offer, an Eligible Investment Plan is not in 'good standing' if the account holder is in breach of the Eligible Investment Plan account agreements. If more than one (1) Eligible Investment Plan is opened and each qualifies for the Offer, the cash bonus will be paid into one of the Eligible Investment Plan(s) in the following order: RRSP then TFSA. In the case where multiple Eligible Investment Plans of the same type are opened (e.g., where multiple RRSPs are opened), the cash bonus will be paid into one of the Eligible Investment Plans. For a spousal RRSP, the cash bonus will be paid into that plan and not paid to the contributor.
This Offer is non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Investment Plans opened. Offer may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise permitted.