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What is an RRSP?
Your guide to the Registered Retirement Savings Program and how it can help you save for retirement.
Saving for education
Discover our range of investment solutions to save for your children’s post-secondary education.
Investment options
While Registered Education Savings Plans (RESPs) are a popular way to set aside money for your child’s or grandchild’s education, there are other ways to save money for school, such as a non-registered account or a TFSA.
Personalized approach
A Scotia advisor will get to know you and help build a customized education savings plan to help you achieve your goals.
The Canada Education Savings Grant (CESG)
The CESG is equal to 20% on the first $2,500 in annual contributions made to each beneficiary in an RESP plan. Find out how to boost your RESP savings with the CESG.1
Plans for education
Start a savings plan that’s right for your child with the help of a trusted expert.
Registered Education Savings Plans (RESPs)
RESPs help parents, family, and friends save towards a child's future post-secondary education.
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.2
Products for education
Build your plan by choosing from our flexible and customizable investment options.
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
Scotia Portfolio Solutions
Our Portfolio Solutions offer a diversified mix of mutual funds in the convenience of single investment to help you grow your savings while carefully managing risk. Whether you are seeking regular income or long-term growth, there’s a portfolio solution designed to help you achieve your goals.
Mutual Funds
Mutual funds deliver instant diversification and professional money management in a cost-effective and convenient solution.
Guaranteed Investment Certificates (GICs)
GICs keep your principal investment safe and have a guaranteed rate of return for worry-free investing.
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.
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.
What is a TFSA?
Your guide to a Tax Free Savings Account and how they can help you save for your goals.
What you need to know about mutual funds
What is a mutual fund? Our guide explains this investment option, the benefits, risks and more.
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
A quick, easy, and secure way to connect with a Scotiabank advisor matched to your needs.
Have a question?
We’re ready to give you advice.
Investing FAQs
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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.
1
Note: The above statement is true for basic CESG. In addition to the basic CESG, an additional amount of CESG will be paid for each qualifying beneficiary, based on the adjusted income. The maximum amount of CESG, including the Additional amount, a child can get is $7,200.
2
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. First time contributors who were at least the age of majority in their province/territory of residence on January 2, 2009 can contribute a maximum of $63,500 in 2019. For complete information on your contribution room, please visit the Canada Revenue Agency website.
3
The Scotiabank Savings Accelerator Account may be opened within the following registered investment accounts - TFSA, RRSP, RESP, RRIF and RDSP.