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Automatic Savings Plan (ASP)

Right for you if:

  • You are looking to save a fixed amount regularly
  • You are looking for competitive interest rates

Deposit Tip of the Month

Finding money can be easier than you think. Save regularly with an Automatic Savings Plan (ASP).

Have a pre-determined amount automatically transferred to your savings account at set intervals to ensure you save regularly and avoid temptation to spend the funds sitting in your chequing account.

Meet your goals. You can save a set amount of money on a regular basis and see how it grows every month. Invest safely and without complications. Just decide how much you want to save and Scotiabank will do it for you automatically.

With competitive interest rates, the Automatic Savings Plan (ASP) is the perfect way to save for travel, your children's education, or simply to help you achieve your financial goals.


  • Initial deposit and minimum monthly contribution of $10
  • No maximum contributions
  • Contributions are voluntary and can be made weekly, monthly, quarterly, semi-annually, or annually
  • Three free withdrawals per month1
  • To open this account, you must have a Regular Savings Account, a Scotia Power Savings Account, or a Checking Account

1 Each additional withdrawal over the allotted amount costs $7.

Requirements for residents:

  • Two (2) forms of personal ID (both with photo)
  • Three (3) personal references
  • A copy of a water, electricity, or telephone bill (to confirm your current address, even if the bill isn't in your name)

You might also need...

How Much Should You Save?

Use our Scotiabank Savings Calculator to see how saving on a regular basis can help you achieve your short- and long-term financial goals.

Read More


Ready to Apply?

  • By Phone:Speak to one of our specialists by calling
    (507) 297-5200 from Panama City &
    (507) 777-6500 from the city of David, Province of Chiriqui.