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.
Open a high-interest savings account
High-interest savings accounts, such as the MomentumPLUS Savings Account or the Savings Accelerator Account, help you earn interest on your emergency funds and give you anytime access to the money when you need it.
Registered plan for your emergency savings
Start planning today with the help of a Scotia advisor.
Tax-Free Savings Accounts (TFSA)
A TFSA is a great way to save for both short and long-term goals, with the flexibility to withdraw your money at any time without penalty.1
Products for your emergency savings
Having access to a ready reserve of cash will prevent you from taking on additional debt.
Savings Accelerator Account
Earn up to 4.05% interest until April 30, 2023 on new deposits in your eligible RRSP or TFSA with the Savings Accelerator Account.†
MomentumPLUS Savings Account
A high interest savings account that rewards you the longer you save.
All with no minimum balance or monthly account fee.
Are you saving for something else?
We can help you achieve your financial goals.
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