Right Size Savings for business
Earn up to 4.65% interest for 6 months6 when you open a new account. Grow your savings with our simple and convenient savings account.
Product benefits
- No monthly account maintenance fee1
- Unlimited FREE Canadian Dollar self-service transfers3
- Earn a higher interest rate as your balance grows
- Higher interest for higher balances2
- Bank quickly and conveniently online
- Withdraw funds anytime
Product details
| Account Features & Rates | |
|---|---|
| Currency | CAD |
| Minimum balance to earn interest | $10,000 |
| Maximum account balance | $2,000,000 |
| Progressive Tiers ($ CDN Amount)4 | Applicable Interest Rate5 (p.a.) |
| $2,000,001.00 & over | 0.00% |
| $1,000,000 - $2,000,000 | 3.05% |
| $200,000 - $999,999 | 3.00% |
| $100,000 - $199,999 | 2.50% |
| $1 - $99,999 | 2.25% |
† Interest earned will be the sum of corresponding interest earned for each tier.
For funds exceeding $2,000,000, speak to your advisor about other investment options better suited for your business.
Related services
Dual Rate Investment Account
Operate your business and save surplus funds – all with a single account.
Cashable GIC
A safe, secure investment that you can cash out anytime
Non-Redeemable GIC
Earn more interest when you lock in your funds in this guaranteed investment.
To qualify for the interest rate bonus offer (the “Offer”) you must:
1. Open a new Right Size Savings for business Account (the “Eligible Investment Account”) between July 13th, 2024, and December 15, 2024, and
2. Deposit and/or maintain a minimum balance of CAD$10,000 in the Eligible Investment Account.
Your Eligible Investment Account will earn an interest rate bonus of 1.60% (the “Bonus Rate”) on all funds in your Eligible Investment Account (up to a maximum balance of CAD$2,000,000) for 6 calendar months commencing within 2 business days after we receive this Offer Letter signed by you (“Bonus Rate Period”). Bonus Rate interest is calculated daily and paid monthly. During the Bonus Rate Period, regular interest will also continue to be applied and will be calculated on a progressive tiered basis with higher rates for higher balances using the daily credit balance (up to a maximum balance of CAD$2,000,000) and paid monthly. A minimum daily balance of CAD$10,000 is required for any interest calculation.
Upon the conclusion of the Bonus Rate Period, without notice, the Bonus Rate will no longer be applied and your Eligible Investment Account will revert to the then current posted tier interest rate applicable to your Eligible Investment Account. All rates are annual and are subject to change. Visit scotiabank.com/ca/en/small-business/rates-prices/interest-bearing-account-rates.html for current tiered interest rates. The Eligible Investment Account must be open and in good standing in order to receive any interest calculated at the Bonus Rate. All other terms and conditions of the Right Size Savings for business Account continue to apply; refer to https://www.scotiabank.com/content/dam/scotiabank/refresh/documents/bank-accounts/english/fees_interest_schedules.pdf for details, including calculation of interest.
This Offer is available to all Small Business customers who meet all Offer conditions, excluding the following:
- Employees of Scotiabank
- Commercial Banking customers
The Offer is non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Investment Accounts approved. If more than one (1) Eligible Investment Account is opened, only the first Eligible Investment Account opened will be eligible for the bonus interest rate. All rates, fees, features, and benefits are subject to change. The Offer may be changed, cancelled, or extended at any time without notice and cannot be combined with any other offer.