Business Interest Bearing Account Rates
Business Interest Account
No longer being sold
Paid on the portion of the balance within each tier.
Paid on the entire balance within the highest applicable interest rate tier.
Interest is calculated on the daily closing credit balance and paid monthly. For U.S. dollar accounts, interest is calculated on the average monthly closing credit balance after deducting the deposit float compensating balance requirement and paid monthly. The deposit float compensating balance requirement is equal to the dollar value of deposits during the statement period multiplied by 2.2 (average number of float days) and divided by the number of calendar days in the statement period. Minimum balance requirement $5,000.
Interest is calculated on the daily closing credit balance and paid monthly. Minimum balance requirement $25,000.
If your organization has deposit requirements for amounts in excess of the maximum balance limit, please contact your Scotiabank Representative.
Interest is calculated on the applicable portion of the daily closing credit balance in each tier, at the corresponding rate for that tier. Interest will be paid on the entire balance up to $2,000,000 when the minimum daily closing balance of $10,000 is met. Interest is calculated and paid to your account at the end of the statement cycle.
Rates are provided for information purposes only and are subject to change at any time.