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Automatic Savings Plan (ASP)

Right for you if:

  • You want to start saving through regular, pre-authorized payments
  • You want to make regular contributions to your savings

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.

Putting a set amount of your income aside every month, often called ‘paying yourself first,’ is one of the most effective ways to save, so we've designed an account to make this easier for you and reward your saving habits.

Scotiabank's Automatic Savings Plan (ASP) makes saving automatic at set time intervals, so you don’t have to even think about it.

  • Transfer a set amount to your Checking or Savings Account on a regular basis
  • Customize when you’d like to make payments and how much you'd like put aside

Fees and Terms

Choose how much and how often you contribute

Make payments automatically

An Automatic Savings Plan automatically deducts a specified amount on a regular basis from your checking or savings account, and deposits it directly into your destination account.

  • You can choose to invest weekly, bi-weekly, monthly, quarterly, semi-annually or annually
  • Scotiabank will automatically transfer the money into the Scotiabank savings/investment account you choose.
  • You can change how much and how often you contribute at any time, or cancel the service by advising us in writing

By making regular contributions, you are building your savings while earning a real return on the amount already contributed. As a result of this compounding, your portfolio has the potential to grow faster than if you made a single lump-sum contribution.

Ready to Apply?