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SPECIAL OFFER
Earn up to $350 when you open one or more eligible registered plans1
STEP 1 OF 3
Open one or more eligible registered plans
Earn either $150 or $350 with this offer.
1. To earn $150, start by opening one eligible registered plan by March 1, 2025.
or
2. To earn $350, start by opening two different eligible registered plans by March 1, 2025.
Tax-Free Savings Account (TFSA)
Are you a Scotiabank customer with access to online banking?
Yes
No
Tax-Free Savings Account (TFSA)
Grow your savings
tax-free
Withdrawl your money
whenever you need to
Save for multiple goals
in one account
Right for you if you:- Have reached the age of majority in the province where the account is set up
- Need an all-purpose solution that offers the flexibility to save for many goals in one account
- Expect to have annual contribution room that is not based on your earned income
- Want your savings to grow over time tax-free with ability to withdraw your money whenever you need it
May not be right for you if you:- Do not have available TFSA contribution room
- Want to be able to make contributions that can be tax deductible - if so, consider a Registered Retirement Savings Plan
Registered Retirement Savings Plans (RRSP)
Are you a Scotiabank customer with access to online banking?
Yes
No
Registered Retirement Savings Plan (RRSP)
Contribute to your retirement savings
on a tax deferred basis
Reduce your taxable income
while your investments grow tax-free
Transfer your funds
to programs that help you buy your first home or pay for your education
Right for you if you:- Plan on making a contribution to your RRSP to reduce your taxable income while your investments grow on a tax-deferred basis
- Understand the maximum you can contribute each year as set by the Canadian Government, which depends on your income
- Have funds in an RRSP that are eligible for programs that can help you buy your first home or pay for education for you, your spouse, or your common-law partner
May not be right for you if you:- Do not have available contribution room
- Are turning 71 this year - since you can only hold and contribute to an RSP until the year in which you turn 71
First Home Savings Account (FHSA)
Start saving towards your first home in Canada, tax-free.
Contact us
First Home Savings Account (FHSA)
Save up to $40,000
towards your first home2
Grow your savings
tax-free2
Reduce your taxable income
while your investments grow2
Right for you if you:- Are a Canadian Resident
- Have reached the age of majority in the province where the account is set-up
- Are a First Time Home Buyer
- Want your savings to grow over time with the ability to withdraw all of the funds tax-free to buy your first home
May not be right for you if you:- Are not a first-time home buyer*
- Are not a Canadian Resident
- Are turning 72 this year -since you can only hold and contribute to a FHSA until the year in which you turn 71
STEP 2 OF 3
Set up a pre-authorized contribution1
Complete this step by May 31, 2025.
Whether you open one or two eligible registered plans, you only need to set up and clear an eligible pre-authorized contribution to one of your registered plans.
Book an appointment or call 1-800-268-9269 to set up your contribution.
The contribution must:
- Come from another Scotiabank personal banking account
- Recur for at least three months in a row by May 31, 2025
- Be at least $100 each month
Don’t have a Scotiabank chequing account?
Check out our welcome offer to get up to $800 instead. If you already did step 1 on this page, your new registered plan also qualifies for the welcome offer.
STEP 3 OF 3
Earn up to $3501
To earn $150, deposit $5,000 into your new registered plan by March 1, 2025. You must keep the $5,000 in this account until May 31, 2025.
or
To earn $350, deposit $5,000 into both of your registered plans by March 1, 2025. You must keep the full deposit in each account until May 31, 2025.
Frequently asked questions
Get smarter with your money. Get Advice+
How you could use the new Tax-Free First Home Savings Account (FHSA)
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RRSP vs. TFSA: What should I choose?
Not sure about selecting an RRSP or a TFSA? We dive into what you need to know about how they work.
How to save and invest when you're new to Canada
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Scotiabank offers the only credit and debit cards that allow you to earn Scene+ points on every transaction.
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Whether you want a card with a low interest rate, no annual fee, or cash back benefits, we’ll help you choose the one that’s right for you.
The Scotiabank Registered Account Welcome Offer (the “Offer”) is available between November 1, 2024 and March 1, 2025 (the “Offer Period”) to individuals who open one or more new Eligible Registered Account(s) (defined below) with either The Bank of Nova Scotia or Scotia Securities Inc. and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are “Eligible Registered Account(s)”: Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an “Eligible RRSP”), Scotia Tax-Free Savings Accounts (each an “Eligible TFSA”) and Scotia First Home Savings Accounts (each an “Eligible FHSA”). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer. In order to qualify for a Cash Bonus (defined below), the individual cannot currently or in the preceding 6 months have held the same Eligible Registered Account type with either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”).
To qualify for a cash bonus (the “Cash Bonus”):
1) Open one or more new Eligible Registered Account(s) during the Offer Period;
2) By March 1, 2025, contribute or transfer-in a Minimum Qualifying Investment Amount (as defined below) into your new Eligible Registered Account(s) and maintain that Minimum Qualifying Investment Amount until May 31, 2025 to qualify for either of the following Cash Bonuses:
Minimum Qualifying Investment Amount* |
Eligible Registered Account(s) |
Cash Bonus |
$5,000 into any one new Eligible Registered Account |
Any one of the following: an Eligible RRSP, Eligible TFSA or Eligible FHSA |
CAD$150 |
$5,000 each into any two new Eligible Registered Accounts (for a total minimum of $10,000 combined) |
Any two of the following: an Eligible RRSP, Eligible TFSA or Eligible FHSA (Note: two of the same Eligible Registered Account types do not qualify) |
CAD$350 |
*For purposes of calculating the Minimum Qualifying Investment Amount, the book value of the contributions and/or transfers-in will be used to determine eligibility.
3) By March 1, 2025, set up and clear one recurring pre-authorized contribution (PAC) from any Scotiabank personal bank account with a minimum value of at least $100 per month in any of your new Eligible Registered Accounts, which must have recurred for a minimum of three (3) consecutive months by May 31, 2025.
General Terms:
Customers are responsible to confirm their contribution limits noted on their most current Notice of Assessment issued by the Canada Revenue Agency prior to making any contribution to their Eligible Registered Account(s). Scotiabank is not responsible for any contribution over a customer’s limit in connection with this Offer. The Cash Bonus is not considered a contribution and therefore will not impact contribution limits. For clients investing in non-Canadian dollar currencies, the investment will be calculated based on Canadian dollar equivalent at the Scotiabank rate on the transaction date to determine eligibility for the Offer. The Cash Bonus will be paid in Canadian dollars.
The applicable Cash Bonus will be paid into your new Eligible Registered Account on or around September 30, 2025 provided all Offer conditions have been satisfied. Your Eligible Registered Account(s) must be open and in good standing at the time of the Cash Bonus payout. For purposes of this Offer, an Eligible Registered Account is not in 'good standing' if the account holder is in breach of the Eligible Registered Account’s client account agreements. If multiple Eligible Registered Accounts are opened, you will receive your applicable Cash Bonus into your Eligible Registered Accounts on a pro rata basis as a percentage of the total Qualifying Investment Amount. For example, if you invest $6,000 into an Eligible TFSA and $8,000 into an Eligible FHSA, you will qualify for a Cash Bonus of CAD$350, which will be paid as follows: CAD$150 in the Eligible TFSA and CAD$200 in the Eligible FHSA. If multiple Eligible Registered Accounts of the same type are opened, the Cash Bonus (or the pro rata portion of the Cash Bonus, if applicable) will be paid to the first Eligible Registered Account opened that has met the Offer conditions. For a spousal RRSP, the Cash Bonus will be paid into that plan and not paid to the contributor.
This Offer is non-transferable, non-saleable, may not be exchanged for cash and may not be duplicated. Limit of one (1) Cash Bonus per customer, regardless of the number of Eligible Registered Accounts opened. Offer may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise specified.