Right Size Savings for business
Grow your savings with our simple and convenient savings account.
Product benefits
- No monthly account maintenance fee1
- Unlimited FREE Canadian Dollar self-service transfers3
- Earn a higher interest rate as your balance grows
- Higher interest for higher balances2
- Bank quickly and conveniently online
- Withdraw funds anytime
Product details
| Account Features & Rates | |
|---|---|
| Currency | CAD |
| Minimum balance to earn interest | $10,000 |
| Maximum account balance | $2,000,000 |
| Progressive Tiers ($ CDN Amount)4 | Applicable Interest Rate5 (p.a.) |
| $2,000,001.00 & over | 0.00% |
| $1,000,000 - $2,000,000 | 4.05% |
| $200,000 - $999,999 | 4.00% |
| $100,000 - $199,999 | 3.75% |
| $1 - $99,999 | 3.50% |
† Interest earned will be the sum of corresponding interest earned for each tier.
For funds exceeding $2,000,000, speak to your advisor about other investment options better suited for your business.
Related services
Dual Rate Investment Account
Operate your business and save surplus funds – all with a single account.
Cashable GIC
A safe, secure investment that you can cash out anytime
Non-Redeemable GIC
Earn more interest when you lock in your funds in this guaranteed investment.
1
The Right Size Savings for business is available in Canadian Dollars only and offers competitive interest rates which are calculated on a tiered, progressive basis2 with higher rates for higher balances. A minimum balance of $10,000 is required for interest calculation. In addition, no monthly account maintenance fee is applicable to the Right Size Savings for business.
2
Refer to Your Guide to Fees and Interest Schedules for transaction and service types that qualify for the tiered pricing structure. Additional deposit contents and sundry service fees apply.
3
This account offers unlimited free Canadian dollar self-service transfers to and from your other Scotiabank accounts when you use Scotia OnLine® Financial Services, ScotiaConnect digital banking services, TeleScotia® telephone banking services, Scotiabank Automated Banking Machines (ABMs) or Internet Banking Services. Please see your Your Guide to Fees and Interest Schedules for details. As this account is intended for savings, a fee of $5.00 is applied on the following debit transactions (per item): ABM Withdrawals, Cheques, Direct Payments, Bill Payments (ABM, Scotia OnLine®, ScotiaConnect or TeleScotia®), and Other Debits. All other standard pay-per-use banking transaction, deposit and sundry service fees as outlined in Your Guide to Fees and Interest Schedules apply.
4
The Right Size Savings for business is available in Canadian Dollars only and offers competitive interest rates which are calculated on a tiered, progressive basis with higher rates for higher balances. A minimum balance of $10,000 is required for interest calculation. In addition, no monthly account maintenance fee is applicable to the Right Size Savings for business.
5
Interest rates are subject to change.