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Scotiabank Momentum Savings Account Info & Reviews

Financial Products > Savings Accounts > Scotiabank Momentum Savings Account
Detailed information, reviews and ratings for the Scotiabank Momentum Savings Account.
Useful when comparison shopping for a new canadian savings account.

Information about the Scotiabank Momentum Savings Account

Product NameScotiabank Momentum Savings Account
Available InCanada (All Provinces)
Offered ByBank of Nova Scotia
Product PageScotiabank Momentum Savings Account
Interest Rate$0 - $4,999: 0.05 %  Interest Rate Decreased from 0.1 % to 0.05 % on October 1, 2015
$5,000 or more: 1.5 %  Interest Rate Decreased from 1.6 % to 1.5 % on August 8, 2019


Chart of historical values for the Scotiabank Momentum Savings Account Tier 2 Rate with Momentum Bonus
  • 1 Year
  • 3 Years
  • 5 Years
  • 10 Years
  • All Data
Minimum Balance$5000
Withdrawal Fee$5
Other Fees$5.00 for any transaction other than a withdrawal to another account at Scotiabank that is in your own name.
$0.00 for transfers to and from another account that is in your own name.
Fund TransfersTo and from another Scotiabank account in the same name.
ABM Withdrawals
Bill Payments
Direct Deposit
Interac eTransfer
Deposit InsuranceCDIC
Additional NotesThe rate of interest for amounts greater than $5000.00 only applies if no withdrawals are made for 90 days. If withdrawals are made, a lower rate of interest is paid. As well, the bonus interest is paid seperately when 90 days have passed.

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Always visit the financial institutions product page and carefully review the information there before making a final decision.

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