Savings account · Scotiabank
Scotiabank Savings Accelerator Account - Registered Plans (excluding TFSA): fees and true cost
Scotiabank’s Savings Accelerator Account - Registered Plans (excluding TFSA) lists 0.25% interest and no monthly fee. On $10,000 that’s about $25 a year before tax, at the posted rate.
CDICTFSAOffered in all ten provinces
Fees retrieved November 1, 2026
Mitey reads Scotiabank’s Savings Accelerator Account - Registered Plans (excluding TFSA) rate sheet: $25 a year on $10,000.
What interest does Savings Accelerator Account - Registered Plans (excluding TFSA) from Scotiabank pay?
Savings Accelerator Account - Registered Plans (excluding TFSA) lists 0.25% interest with FCAC. On $10,000 that is about $25 a year before tax, with no monthly fee. As a TFSA, it follows that plan’s contribution rules. Eligible deposits are insured by CDIC up to $100,000 per category. Rates as listed on November 1, 2026; promotional rates may differ.
Is Scotiabank Savings Accelerator Account - Registered Plans (excluding TFSA) the best place for savings?
- Versus the top posted rate: on $10,000, 30 Day Notice Savings Account (EQ Bank, 3%) would pay about $275 more a year after fees.
- Or lock it in: a 1-year GIC at 3.75% (Oaken Financial, posted November 2, 2026) would earn $375 on $10,000, against $25 here — but the money is locked in for the year.
Interest at different balances
| Balance | Rate | Interest a year |
|---|---|---|
| $1,000 | 0.25% | $3 |
| $10,000 | 0.25% | $25 |
| $50,000 | 0.25% | $125 |
| Balance | Rate (annual) |
|---|---|
| $0 and up | 0.25% |
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
Savings Accelerator Account - Registered Plans (excluding TFSA)
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
- MomentumPLUS Savings Account — 0.4% interest
- Money Master Savings Account — 0.01% interest
- Savings Accelerator Account - Non-Registered Plans — 0.1% 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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