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New Momentum Plus Savings Acoount
December 14, 2022
7:01 am
dentgal
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Up to 4.6%
Basic rate 1.6 plus first 5 month bonus 1.8= 3.4% PLUS you choose which tiers you want the money saved for extra percentages .
https://www.scotiabank.com/ca/en/personal/bank-accounts/savings-accounts/momentum-plus-savings-account.html

December 14, 2022
2:21 pm
frencols
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December 14, 2022
5:46 pm
Bruford
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dentgal said
Up to 4.6%
Basic rate 1.6 plus first 5 month bonus 1.8= 3.4% PLUS you choose which tiers you want the money saved for extra percentages .
https://www.scotiabank.com/ca/en/personal/bank-accounts/savings-accounts/momentum-plus-savings-account.html  

Tiers seem to be Scotia's attempt to lock in money for specific durations. Not for me considering all the other better options out there right now.

June 5, 2025
9:47 am
hwyc
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It's been awhile since I checked on Scotia new Momentum Plus offer

Earn a savings rate of 4.90% for a limited time with a 90-day premium period.

0.55% regular
0.25% premium for 90 days (higher for longer period)
4.10% welcome bonus for 1st 3 months (90 days) if this is first account.

0.05% extra boost for the preferred package
0.10% extra boost for the ultimate package

*Individuals who are currently or were previously a holder of a MomentumPLUS Savings Account within the last 2 years are not eligible for the Offer.

June 6, 2025
7:48 am
COIN
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"Individuals who are currently or were previously a holder of a MomentumPLUS Savings Account within the last 2 years are not eligible for the Offer."

Another promo that is restricted to only folks who never had a Momentum PLUS account. It looks like 1 or 2 or 3 of the big bank are only interested in recent immigrants, students and/or "tent people".

June 7, 2025
1:14 pm
RetirEd
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,,,or they simply want to put their promotional money into attracting new customers.

RetirEd

June 7, 2025
2:45 pm
Norman1
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RetirEd said
,,,or they simply want to put their promotional money into attracting new customers.

That's what it is. The savings account market is mature. People have to paid something to take the time to open a savings account and test drive the account.

June 8, 2025
7:01 am
COIN
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Norman1 said

RetirEd said
,,,or they simply want to put their promotional money into attracting new customers.

That's what it is. The savings account market is mature. People have to paid something to take the time to open a savings account and test drive the account.  

The trick is to be a new customer at another bank. Your old bank just lost a good client/customer. Of course, this trick won't work after you've done all Big 6 banks but by then you'll be old. (I think the TD once told me that I can come back after 7 years and become a "born again new customer". )

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