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Compare the best Scotiabank savings accounts

Want to open a Scotia savings account? Why not compare your options? Find the highest-earning savings accounts in Canada from multiple banks in seconds.

Scotia savings accounts

Rates updated:

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  • All account types
  • High interest
  • RRSP
  • TFSA
  • Youth
  • Senior
with a balance of
  • $1,000
  • $5,000
  • $10,000
  • $50,000
  • $100,000
1.25%

$63 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$0.00
E-transfer
$0.00
1.10%

$55 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$5.00
E-transfer
$0.00
0.05%

$3 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$5.00
E-transfer
$0.00
0.05%

$3 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$5.00
E-transfer
$0.00
0.01%

$1 first year return based on

$5,000 balance

Monthly fee
$0.00
Transaction fees
$5.00
E-transfer
$1.00

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The best savings accounts in Canada

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About Scotiabank

Scotiabank is one of Canada's Big Five banks with more than 8.5 million customers. It serves customers through internet, mobile, and telephone banking services as well as at more than 900 branches across the country.


Compare Scotiabank’s Savings Accounts

Scotiabank has a number of savings accounts tailored towards different needs.


Scotiabank Momentum Savings Account

The Scotiabank Momentum Savings Account is a savings account that pays a relatively competitive interest rate and doesn’t have any monthly fees. Moreover, the account features unlimited free transactions when you transfer part of your balance to other Scotiabank accounts under your name. But other transactions are subject to service fees. Interest is paid every 90 days if no cash is withdrawn.


Scotiabank Savings Accelerator Account

This account features no monthly fees. However, transactions other than debit transactions or transfers between Scotiabank accounts are subject to service charges. Although you can access your account online or through a mobile device, you won’t be able to access it through an ATM. This account can also be opened as a tax-free savings account, registered retirement savings plan, registered education savings plan, or registered retirement income fund.


Scotiabank Scotia Power Savings Account

The Scotia Power Savings Account has a competitive interest rate and you need a minimum balance of more than $5,000 to get that rate. You can access your funds through online and mobile banking, as well as any ATM. This account has no monthly fees and you can make free online transfers.


Scotiabank Money Master Savings Account

Scotiabank’s Money Master Savings Account doesn’t have any monthly fees or minimum balance requirements. With the Money Master Savings Account, you can benefit from free unlimited transfers and convenient access to your account through any ATM or Scotiabank’s online and mobile banking services.


Scotiabank Getting There Savings Program for Youth

The Getting There Savings Program for Youth includes a savings account that can be used by clients aged 18 and under. While Scotiabank doesn’t offer the most competitive rate for youth accounts, customers with this account can benefit from unlimited Interac debit transactions, no monthly fees, and an interest rate higher than some other Scotiabank savings account options.


Compare other Scotiabank products

Scotiabank offers a variety of banking products and services. At Scotiabank, you can get chequing and savings accounts, credit cards, mortgages, loans and lines of credit.


Get the best savings account

When you're a Scotiabank client you can get 24/7 customer service and financial advice at Scotiabank branches. That being said, Scotiabank isn't your only option. Our savings account comparison tool lists a number of accounts from different financial institutions so you can find one that best suits your needs.

Mikael Castaldo, Senior Business Manager of Everyday Banking

Mikael is a Senior Business Manager at Ratehub.ca and the driving force behind our Everyday Banking Team. He knows everything there is to know about the best credit cards and bank accounts, and works closely with Canada’s top financial institutions - from banks to credit unions - to help ensure our over 1,200,000 monthly users get matched with the right plastic. A numbers guy at heart, having worked as a strategy consultant at the Boston Consulting Group, he’s found himself right at home as a personal finance expert at Ratehub.ca.

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