Savings account · Scotiabank
MomentumPLUS Savings Account: fees and true cost
Scotiabank’s MomentumPLUS Savings Account lists 0.4% interest and no monthly fee. On $10,000 that’s about $40 a year before tax, at the posted rate.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
Interest at different balances
| Balance | Rate | Interest a year |
|---|---|---|
| $1,000 | 0.4% | $4 |
| $10,000 | 0.4% | $40 |
| $50,000 | 0.4% | $200 |
| Balance | Rate (annual) |
|---|---|
| $0 and up | 0.4% |
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | Branch: unlimited · self-serve: unlimited |
| Debit purchase in Canada (beyond included) | Not available |
| Online or mobile bill payment | Not available |
| Interac e-Transfer | Not available |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | Not available |
| Withdrawal at another institution’s ATM | Not available |
| ATM withdrawal in the United States | Not available |
| ATM withdrawal in other countries | Not available |
| Debit purchase in the United States | Not available |
| In-branch withdrawal | $5.00 |
| Bill payment in branch | Not available |
| Cheque (as a payment) | Not available |
| Mailed monthly statement | Not available |
| Non-sufficient funds (NSF) | Not stated |
| Overdraft protection, monthly | Not stated |
| Overdraft protection, per use | Not stated |
| Overdraft interest | Not stated |
Notes from the institution
MomentumPLUS Savings Account Save for multiple goals in one account Choose the timeline and track as you earn The longer you save, the higher your interest rate A maximum of five Premium Periods at any one time, each of which can have a length of 90 days, 180 days, 270 days, or 360 days. For each Premium Period, Premium Interest is calculated daily by applying the Premium Interest Rate to each deposit, including any accumulated Regular Interest, until the end of the Premium Period. Premium Interest is paid at the end of each Premium Period, so long as NO DEBIT TRANSACTION HAS OCCURRED within t
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Other savings accounts at Scotiabank
- Money Master Savings Account — 0.01% interest
- Savings Accelerator Account - Non-Registered Plans — 0.1% interest
- Savings Accelerator Account - Registered Plans (excluding TFSA) — 0.25% interest
- Savings Accelerator Account - Tax-Free Savings Account — 0.25% interest
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Scotiabank’s product page
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