Right Size Savings for business
Earn up to 5% interest for 6 months6 when you open a new account. Grow your savings with our simple and convenient savings account.
Right Size Savings for business
Special offer
Earn up to 5% interest for 6 months6 when you open a new account. Grow your savings with our simple and convenient savings account.
Apply nowProduct Benefits
- No monthly account maintenance fee1
- Higher interest for higher balances2
- Unlimited FREE Canadian Dollar self-service transfers3
- Bank quickly and conveniently online
- Earn a higher interest rate as your balance grows
- 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.) |
|
$1,000,000 - $2,000,000 |
3.40% |
|
$200,000 - $999,999 |
3.35% |
|
$100,000 - $199,999 |
3.30% |
|
$1 - $99,999 |
3.25% |
|
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
Resources
By opening this account you agree to the following terms and conditions that apply to the 6-month interest rate bonus.
Manage funds easily with this flexible, budget-friendly solution.
Apply now
Phone
Prefer to talk to us
In Person
Contact Us
-
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
The Right Size Savings for business offers competitive interest rates which are calculated on a tiered, progressive basis with higher rates for higher balances. Progressive Tier (also known as blended interest) implies that the portion of the credit balance within each tier will earn the corresponding interest rate for that tier. The sum total of the interest earned at each tier will give you the total interest. Interest is calculated on the daily credit balance and paid monthly.
-
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
-
6
Your new account, opened between January 28, 2023 to April 30, 2023 will earn an interest rate bonus of 1.60% per annum on balances between $10,000 to $2,000,000 Canadian dollars for 6 calendar months (“Interest Rate Bonus Period”). During the Interest Rate Bonus Period, interest will be calculated on the daily closing credit balance (at the posted interest rate plus the interest rate bonus) and paid to your account at the end of the statement cycle. Upon the conclusion of the 6-month Interest Rate Bonus Period, without notice, your Right Size Savings for business account will revert to the posted interest rate applicable at that time and which is subject to change at any time. Please note that this offer is not transferable.
“Offer Period” is defined as the duration for which the Terms and Conditions specified in this offer will remain in available.
This Offer may be withdrawn at any time.
The Offer is subject to change without notice.