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Automatic Savings Plan (ASP)
Right for you if:
You want to start saving through regular, pre-authorised payments
You want to make regular contributions to your savings
Deposit Tip of the Month
Finding money can be easier than you think. Save regularly with an Automatic Savings Plan (ASP).
Have a pre-determined amount automatically transferred to your savings account at set intervals to ensure you save regularly and avoid temptation to spend the funds sitting in your chequing account.
- Overview
- Features
Putting a set amount of your income aside every month, often called ‘paying yourself first,’ is one of the most effective ways to save, so we've designed an account to make this easier for you and reward your saving habits.
Scotiabank's Automatic Savings Plan (ASP) makes saving automatic at set time intervals, so you don’t have to even think about it.
Transfer a set amount to your Savings Account on a regular basis
Customise when you’d like to make payments and how much you'd like put aside
Earn 1% bonus interest1 if you save regularly with the Scotiabank Savings Reward Plan (SSRP)
Fees and Terms
Eligible for 1% bonus annual interest
Make payments automatically
Save up to $19,000 in 3 years with monthly payments of $500
Save regularly through our Automatic Savings Plan and you can earn an additional 1% bonus1 interest on the annual average monthly balance of your contributions made during the one-year term2, through our Scotiabank Savings Reward Plan.
By the numbers:
The interest you earn by saving regularly with an Automatic Savings Plan, plus the bonus1 interest of our Scotiabank Savings Reward Plan, can bring you closer to your savings target.
How much closer? See how our Savings Plans help you reach your financial goals:
Monthly Amount Saved
|
Total Savings After: | ||
| Year 1 | Year 2 | Year 3 | |
| $100 | $1,226 | $2,503 | $3,831 |
| $150 | $1,839 | $3,754 | $5,746 |
| $200 | $2,453 | $5,005 | $7,662 |
| $300 | $3,679 | $7,508 | $11,493 |
| $500 | $6,132 | $12,513 | $19,154 |
| Based on an annual interest rate of 4%. | |||
You might also need...
Scotiabank Savings Reward Plan
Earn an additional 1% bonus interest on the annual average monthly balance of your savings contributions.
Looking for the right account?
You can set up your Automatic Savings Plan with a variety of Scotiabank accounts. Browse our Account Comparison Chart to find the perfect account for you.
Need more information?
Terms and Conditions apply.
Less any withdrawals you make that are offset by an equal or greater lump-sum deposit.