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.
Registered plan 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 up to 4.05% interest until August 31, 2023 on eligible new deposits in your TFSA with the Savings Accelerator Account.†
Guaranteed Investment Certificates (GICs)
A worry-free investment product that keeps your principal investment safe and has a guaranteed rate of return.
Are you saving for something else?
We can help you achieve your financial goals.
Get smarter with your money. Get Advice+
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. We’ll help you build a plan that fits your life.
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Five questions to ask before you invest
Here are five questions to ask yourself as you start on the path to investing.
Talk to a Scotia advisor today
A Scotiabank advisor is someone you can talk to about your today and trust with your 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.
Online appointment booking
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The amount you withdraw can be put back into your TFSA starting the following year without impacting your contribution room. Specific product restrictions may also apply. Annual contribution limits: $5,000 for 2009-2012; $5,500 for 2013-2014; $10,000 for 2015; $5,500 for 2016-2018; $6,000 for 2019 – 2021.
For complete information on your contribution room, please visit the Canada Revenue Agency website.
The Scotiabank Savings Accelerator Account may be opened within the following registered investment accounts - TFSA, RRSP, RESP, RRIF and RDSP.
The bonus interest rate (The “Bonus Rate”) applies to New Deposits (defined below) made into an eligible Scotiabank Savings Accelerator Account (“SSAA”) between May 30, 2023 and August 31, 2023 (the “Bonus Rate Period”) Eligible SSAAs include only those held within a Tax-Free Savings Account (TFSA) at either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”). SSAAs held within a RRSP, RRIF, LIF, Registered Locked-In RSP, RESP, RDSP or any other registered plan or non-registered account at Scotiabank are not eligible for this Bonus Rate.
During the Bonus Rate Period, the Bonus Rate of 3.25% will be earned only on that portion of the SSAA Daily Balance that is greater than the SSAA Daily Balance as of May 29, 2023 (“New Deposits”). The “SSAA Daily Balance” means, with respect to any particular day, the closing balance in the eligible SSAA. In addition, New Deposits will continue to earn interest at the posted annual interest rate for the SSAA (click here for current rates).
The Bonus Rate will cease to apply as of September 1, 2023. The bonus interest earned during the Bonus Rate 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 Bonus Rate. 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 https://www.scotiabank.com/ca/en/personal/bank-accounts/savings-accounts/savings-accelerator-account.html for details, including calculation of interest.
The terms, including the Bonus Rate, may be changed, cancelled or extended at any time, in whole or in part, without notice.
Scotia Securities Inc. is a mutual fund dealer and is a corporate entity, separate from, although wholly-owned by, The Bank of Nova Scotia ("Scotiabank"). ScotiaFunds are managed by 1832 Asset Management L.P. and are available from Scotia Securities Inc. 1832 Asset Management L.P. is a limited partnership the general partner of which is wholly-owned by Scotiabank. Scotia Smart Investor is a trade name of Scotia Securities Inc.described herein are annual rates.