COVID-19 Update: For the latest updates on our Small Business relief measures, including the Canada Emergency Business Account (CEBA) and The Business Development Bank of Canada (BDC) Business Credit Availability Program (BCAP), visit our Small Business COVID-19 Page.
* The 2.0% Interest Rate Special (the “Special”) is available on the Right Size Savings for business account (the "Account") for balances of less than $100,0000 between April 16, 2020 and June 15, 2020. No additional action is required to activate this special interest rate. A minimum balance of $10,000 is required to earn interest in the Account. The Special rate will only apply to the positive deposit balances between the $1 and $99,999 balance tier of the Account. The Special rate of 2.0% is an annualized rate, calculated on the daily closing account balance and is paid monthly. All balances over $100,000 in the Account will earn interest at the applicable Progressive Tier interest rate payable on the Account. Progressive Tier implies that the portion of the balance within each tier will earn the corresponding interest rate for that tier. The interest paid at the end of each month will be the sum total of the interest earned at each tier. No interest is paid on balances exceeding $2 million. The Account is available in Canadian Dollars only. This Special rate and the interest rate on the other tiers of the Account may be changed, extended or withdrawn at any time without notice. For complete product terms and conditions (including interest rates paid for Progressive Tiers) please visit Scotiabank.com and refer Your Guide to Fees & Interest Schedules.