We’ve rounded up the latest and best Scotiabank promotions here, so you can easily compare offers and find the best deal for you. Right now, Scotiabank is offering one of the highest cash bonuses we’ve ever seen on the Canadian market—up to $500.
Check out this list of current Scotiabank promotions available below, and compare it with other Canadian bank offerings.
Scotiabank promotions and offers available now
We’ve compiled the latest Scotiabank promotions and offers currently available, so you can easily browse and compare deals.
Scotiabank Preferred Package
Earn up to $500 with a Scotiabank Preferred package and a registered account. Valid until April 30, 2025. Plus, earn up to 4.95% interest for 3 months on your MomentumPLUS Savings Account.
The monthly account fee will be waived if you have at least $4,000 in your account at all times.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
Unlimited debit transactions & Interac e-Transfer transactions One free non-Scotiabank ABM withdrawal per month in Canada First year annual fee waiver (up to $139) on select credit cards Pay just $1.99 for each Scotia International Money Transfer Preferred rates on select GICs Earn Scene+ points and redeem for various rewards
Scotiabank Ultimate Package
Earn up to $500 with a Scotiabank Ultimate package and registered account. Valid until April 30, 2025. Plus, earn up to 5.00% interest for 3 months on your MomentumPLUS Savings Account.
Monthly account fee waived if you have at least $6,000 in your account at all times or a combined balance of $30,000 across your Ultimate Package and a MomentumPLUS Savings Account.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
Unlimited debit transactions & Interac e-Transfer transactions Unlimited free Global non-Scotiabank ABM withdrawals (terms apply) Up to $139 annual fee waiver each year on select credit cards No monthly Overdraft Protection fee Special rates on select GICs Earn Scene+ points and redeem for rewards 10 free equity trades at Scotia iTRADE in your first year (approximately $100 value), and 5 free equity trades every year after Free personalized cheques and drafts $60 annual fee waiver (equivalent to a small safety deposit box)
Scotiabank Student Banking Advantage Plan
Earn up to $100 as a welcome cash bonus and up to 6,250 Scene+ points when you open an account. Apply by May 25, 2025.
You may be eligible to earn three different types of interest on this account. The first is a base rate of 0.55% that you'll earn on your entire balance, plus a package interest rate boost of 0.10% for Ultimate Package holders and a 0.05% rate for Preferred Package holders.
The second is a premium interest rate of 0.25%, which is earned when you choose 360-day premium period (or earn lower rates with 90, 180 and 270 periods). A longer premium period earns a higher premium period interest rate, provided you don't make any withdrawals within the selected period. Premium period interest is calculated daily and paid at the end of the applicable premium period.
The third is a welcome bonus interest rate of 4.10% for 3 months, calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account.
Scotiabank Money Master Savings Account
Earn 0.40% interest when you sign up for and remain enrolled in smart savings tools by Advice+ on the Scotia app.
Interest rate
0.01%
Minimum balance
N/A
Monthly fee
$0
Transactions
$0
Scotiabank Money Master Savings Account
Earn 0.40% interest when you sign up for and remain enrolled in smart savings tools by Advice+ on the Scotia app.
Interest rate
0.01%
Minimum balance
N/A
Monthly fee
$0
Transactions
$0
How does the Scotiabank chequing account promotion work?
With the Scotiabank chequing account promotion, you can earn a cash bonus of up to a $500 by completing two steps over the next few months. This chequing account offer is available when you open either of these chequing accounts between March 4 and April 30, 2025:
Steps to earn the Scotiabbank $500 promotional offer
Earn up to a $500 bonus. Earn $400 by completing any two of the following steps within 60 days.
(1) Set up and clear at least one eligible automated and recurring direct deposit, such as payroll or pension, which will recur monthly for a minimum of 6 consecutive months, or (2) Set up and clear a minimum of 2 separate eligible recurring pre-authorized transactions with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of 6 consecutive months, or (3) Make at least 1 eligible online bill payment of at least $50 through the Scotiabank Mobile App or through Scotia OnLine.
To earn up to $100 more, you must complete Step 1. Between March 4, 2025 and April 30, 2025, and within 60 days of opening your new Package account, open a new RRSP, TFSA or FHSA.
How does the Scotiabank savings account promotion work?
You may be eligible to earn three different types of interest on this account. The first is a base rate of 0.55% that you'll earn on your entire balance, plus a package interest rate boost of 0.10% for Ultimate Package holders and a 0.05% rate for Preferred Package holders.
The second is a premium interest rate of 0.25%, which is earned when you choose 360-day premium period (or earn lower rates with 90, 180 and 270 periods). A longer premium period earns a higher premium period interest rate, provided you don't make any withdrawals within the selected period. Premium period interest is calculated daily and paid at the end of the applicable premium period.
The third is a welcome bonus interest rate of 4.10% for 3 months, calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account.
Eligibility: You can apply for the Preferred Package chequing account through the StartRight program if you're a Canadian resident that has been in Canada for 0-5 years as an international student or foreign worker. Perks: Unlimited no-fee international transfers, access to credit cards with no credit history and 10 free equity trades when you invest a minimum of $1,000 in a new Scotia iTRADE account. Credit card (yes/no): Yes
Unlimited transactions
No monthly fee (conditions apply)
Fee-free international transfers through the Scotiabank StartRight Program
Earn up to $500 with a Scotiabank Preferred package and a registered account. Valid until April 30, 2025. Plus, earn up to 4.95% interest for 3 months on your MomentumPLUS Savings Account.
Maintain a $4,000 minimum balance to avoid monthly fees after the first year
Min. Age
16
Account Fee
$16.95
Overdraft Fee
$5
ATM Out-of-Network Fee
$2
U.S. ATM Fee
$3
International ATM Fee
$5
Scotiabank promotions vs. other Canadian bank offers on now
Although Scotiabank is offering a very high cash bonus offer, other Canadian banks, fintechs and credit unions are offering competitive promotions right now. Compare these other promos with Scotiabank offers:
Simplii No Fee Chequing Account
Earn $300 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends April 30, 2025.
You'll pay no monthly fee if you maintain a minimum balance of $4,000 at all times, or if you're either 25 or younger or 59 or older.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2.50
BMO Performance Chequing Account
Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Performance Chequing Account, $200 (plus a 4.80% promo interest rate) when you open a Savings Amplifier Account and $50 when you make it a BMO Family Bundle. Valid until July 2, 2025.
The monthly account fee is waived if you maintain a minimum monthly balance of at least $4,000.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
monthly fee is waived for members of the Canadian Defence Community
BMO Premium Plan Chequing Account
Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Premium Plan Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until July 2, 2025. Also earn a 4.80% bonus interest rate when you add a Savings Amplifier Account.
Monthly account fee waived if you keep a balance of at least $6,000 in your account each month.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free overdraft protection
RBC Signature No Limit Banking Account
Get an Apple Watch when you open your first RBC Signature No Limit Banking Account and complete two of the qualifying criteria tasks. Apply by June 2, 2025.
Monthly fee
$16.95
Waiver
Through RBC's Value Program Rebate, pair this account with other eligible RBC accounts and save up to $11.95 per month. Only pay $10.95/month for this account with 2 other eligible RBC products.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
5 free cross-border debits per month ($1.00 each afterwards)
RBC VIP Banking Account
Get an Apple Watch when you open your first RBC VIP Banking Account and complete two of the qualifying criteria tasks. Apply by June 2, 2025.
Monthly fee
$30
Waiver
Through RBC’s Value Program Rebate, pair this account with 2 other eligible RBC accounts and get cashback for some or all of your monthly fees—for example, only pay $19.95/month for this account.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free cross-border debit transactions, free RBC VIP Style personalized cheques and up to 2 additional Canadian dollar accounts and 1 U.S. dollar account
CIBC Smart Account
Get a $450 cash offer when you open a CIBC Smart Account as your first chequing account and complete the qualifying actions within 2 months.
Monthly fee
$16.95
Waiver
The monthly fee is waived if you have a minimum of $4,000 in your CIBC chequing account.
Transactions
Unlimited
Interac e-transfers
Free
Non-network ATM in Canada
$2
Highlights
The lowest monthly fee is $6.95 for 12 transactions and the highest monthly fee is $16.95 for 20 or more transactions.
TD Unlimited Chequing Account
Earn a welcome bonus worth $600. Terms and conditions apply. Offer ends May 28, 2025.
Monthly fee
$16.95
Waiver
maintain a $4,000 minimum balance to receive a monthly fee rebate.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
Earn up to $600 when you open a new chequing account and set up direct deposit.
Tangerine No-Fee Daily Chequing Account
Earn up to $250. Open a No-Fee Daily Chequing Account and switch your payroll deposits to your new Tangerine Chequing Account for 2 consecutive months to receive $250.
Monthly fee
$0
Interest rate
0.01%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$1.50
Tangerine Savings Account
Earn 5.40% interest for 5 months (on the first $1,000,000 in deposits) when you sign up by March 31, 2025.
Besides offering very competitive sign-up promotions, Scotiabank customers also get access to the Global ATM Alliance with 3,600 ATMs in Canada and 44,000 partner ATMs around the world. Plus, you can use your Scotiabank cards with Apple Pay, Samsung Pay and Google Pay.
The current Scotiabank welcome bonus comes in two parts. The first is a cash bonus of $500 when you open an eligible Scotiabank chequing account and complete certain qualifying actions. The second is an interest rate bonus of up to 5% when you open a Scotiabank MomentumPLUS Savings Account and complete select actions.
Scotiabank is offering a competitive offer for students. Earn up to $100 as a welcome cash bonus and up to 6,250 Scene+ points when you open an account. Apply by May 25, 2025. You can also get access to discounted trading. Get $4.99 commission pricing, a 50% discount from the standard commission pricing. Plus, make 1 trade and get 1 free at Scotia iTRADE. Get 20 free stock or ETF trades on the mobile app in your first year and 10 free trades every year after.
Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature. See full bio
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