Saving for a big purchase
When making a major purchase, it's important to know where that money is coming from before signing on the dotted line. You have a range of low-risk investment options that offer steady returns.
Customized financial plan
The timeline on big purchases is usually short.
It's important to establish a time frame to save for your big purchase so you can figure out how much you need to save on a regular basis.
If your goal is to buy a car, plan a trip, or start saving for a down payment on a home, a Scotia advisor will recommend the right plan for you now and in the future.
Pre-Authorized Contributions (PACs)
Setting up a PAC helps you build your savings easily and conveniently through automatic contributions. It makes saving for your purchase simple and hassle-free. Find out how to set it up through online banking and start saving today.
Plans for big purchases
Start planning for your dream purchase 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 big purchases
Build your plan by choosing from a range of diverse savings and investment products.
MomentumPLUS Savings Account
A high interest savings account that rewards you the longer you save.
All with no minimum balance or monthly account fee.
Savings Accelerator Account
Earn a competitive interest rate on your money as it grows, with no monthly account fee. Available in registered1 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.
Book an appointment with a Scotia advisor.
It starts with a simple conversation.
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.