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.
Plans 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 a competitive interest rate on your money as it grows, with no monthly account fee. Available in registered3 and non-registered plans
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.
Monitor your investments digitally with online and mobile banking. Our digital banking guides show you how to take care of your banking using your mobile phone, tablet, or computer.
The 1.50% Promotional Interest Offer (the “Offer”) applies to New Deposits (defined below) made into an eligible Scotiabank Savings Accelerator Account (“SSAA”) between December 1, 2020 and March 31, 2021(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 1.50% will be earned only on that portion of the SSAA Daily Balance that is greater than the SSAA Daily Balance as of November 30, 2020 (“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 1.40% or 1.45% (the “Promotional Interest Rate”) plus the regular interest rate that applies to the eligible SSAA for a total effective interest rate of 1.50% 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 1.40% for a total interest rate of 1.50%;
· If the SSAA Daily Balance is less than $250,000: regular interest rate is 0.05% plus a Promotional Interest Rate of 1.45% for a total interest rate of 1.50%.
The above regular interest rates are effective as at December 1, 2020 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 1.50%. Please click here for current regular interest rates.
The Promotional Interest Rate will cease to apply as of April 1, 2021. 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 SSSA 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/accelerate 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.