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.
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EQ Bank
3.00%Features of chequing without any of the fees
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Simplii Financial ™
4.50%From Oct 1st 2025, Get a special interest rate, earn 4.50% interest rate on your first Simplii Financial High Interest Savings Account for the first 5 months. Only on eligible deposits up to $200,000. Terms apply. Offer ends on Jan 31st, 2026.
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Tangerine
4.50%Special Offer: Save with Tangerine at a great 4.50% interest rate for 5 months. You’ll earn it in your first Tangerine Savings Account and on other Savings Accounts you open during that time period, too – including TFSA and RSP Accounts.
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Oaken Financial
2.80%Oaken Financial Savings Account
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Natasha Macmillan, Senior Business Unit Director - Everyday Banking
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 PLUS Savings Account
The Scotiabank Momentum PLUS Savings Account is a savings account that pays a regular interest rate, along with an optional Premium Period Interest Rate, a Package Interest Rate boost when bundled with select chequing accounts, and a Welcome Bonus Interest Rate. This account has no monthly account fees or minimum balance requirement. Moreover, it features unlimited self-service transfers between Scotiabank accounts. Interest is applied to your daily closing balance and is paid monthly.
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.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio
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