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Scotiabank Deposits of february 2023

Open a deposit at Scotiabank verified by our specialists. On 08.02.2023 13 deposits are available to you.

Offers: 13

Updated
05.01.2023
17:09
MomentumPLUS Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

up to 4.60%
Guaranteed Investment Certificates (GIC)
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

up to 5.00%
Registered Disability Savings Plan (RDSP)
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Tax-Free Savings Account (TFSA)
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$6,500 - $88,000
Rate
i

Effective interest rate on the product

up to 4.05%
Registered Retirement Savings Plan (RRSP)
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

up to 4.05%
Money Master Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

0.010%
Savings Accelerator Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

up to 1.500%
Basic Bank Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$3.95 monthly fee
Getting There Savings Program for Youth
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Student Banking Advantage® Plan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee

Other types of deposits

GoDay
1.6
JUDGEV
JUDGEV
26.05.2022 at 15:46
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
Review
Scotiabank Deposits of february 2023

Types of Scotiabank deposits

If you wish to place your money into a bank for safekeeping, Scotiabank offers a range of deposit products:

  1. Chequing accounts — the accounts for everyday banking featuring no monthly fees when maintaining the minimum balance and allowing to use the funds on demand, with a limited or unlimited number of debit transactions included.
  2. Savings accounts — the accounts enabling to earn interest for holding money (with the MomentumPLUS Savings Account being the top option) and featuring no monthly fees when maintaining the minimum balance or being over 60 years old.
  3. Tax-free savings accounts — accounts with the flexibility to save for many goals in one place, increase your earnings tax-free, and withdraw the funds whenever you need.
  4. Registered retirement savings plans — the solutions to save for retirement with no need to pay income tax on earnings from your investments.
  5. Registered disability savings plans — savings solutions for Canadians with disabilities to grow the funds on a tax-deferred basis, with a $ 200,000-lifetime contribution limit.
  6. Guaranteed investment certificates — deposit accounts that guarantee 100% of your original principal investment and allow you to earn interest at a fixed or variable rate.

    Requirements

    Canadian residents and individuals working and studying there can apply for deposit products. When applying, be ready to provide your personal information, proof of your address and identity, your employment information, and your Social Insurance Number.

    With most savings accounts, there is no minimum balance required. Scotia U.S. Dollar Daily Interest Account and Scotia Euro Daily Interest Savings Account are the exceptions and require a $200 and a 200 euros minimum balance accordingly.

    Pros and cons

    Deposit options from Scotiabank have numerous advantages. To name a few pros:

    • Solutions with no monthly account fees or minimum balance required.
    • Holding your deposits for longer can bring you greater returns (in particular, with the MomentumPLUS Savings Account).
    • Certain eligible deposits made by December 31, 2022, can earn bonus interest.
    • Mobile cheque deposit feature that enables you to take a picture of your cheque and deposit it into your account right away.
    • The coverage from Canada Deposit Insurance Corporation (CDIC) will protect your deposits.

    As for the cons:

    • Keep in mind that debit transactions within the premium period can prevent you from earning the premium interest rate (particularly, with the MomentumPLUS Savings Account).

    How to make a deposit?

    You can make a cash deposit into your bank account either in person at your local Scotiabank branch, or at an ATM accepting deposits.

    If the branch’s opening hours don’t work for you, and there is no ATM around, Scotiabank also offers a mobile deposit feature. To deposit a cheque to your account through your smartphone, launch the Scotiabank app, select the account to deposit, specify the amount, take a picture of a cheque, and make a deposit.

    The eligible types of cheques include Canadian and U.S. dollar cheques, bank drafts, money orders, certified cheques, and travelers' cheques. You can deposit up to $500,000.00 per cheque.

    FAQ

    Is there any insurance coverage for Scotiabank deposits?

    Canada Deposit Insurance Corporation (CDIC) ensures protection for most deposit products from Scotiabank. Mutual funds, stocks, bonds, and exchange-traded funds are not subject to coverage.

    How to find my direct deposit information?

    You can find your direct deposit information online or through the Scotiabank app. You can see your account number, institution, and transit numbers there.

    The Scotiabank app rejects my cheque image when I make a mobile deposit. What can I do?

    The Scotiabank app may reject your check image if it doesn’t meet the system requirements. To avoid it, be sure to take a picture of a flat and wrinkle-free cheque placed on a black or dark surface, with no pattern. When taking a photo, hold your camera about 6 inches above the cheque and try to avoid shadows and reflections.