Scotiabank promotions and offers

Explore the latest Scotiabank offers, and see how much you could potentially earn by opening an account with this popular Canadian bank.

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 $800.

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 $800 with a Scotiabank Preferred package and an investment plan. Valid until March 1, 2025. Plus, earn up to 5.35% interest for 3 months on your MomentumPLUS Savings Account.

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Scotiabank Ultimate Package

★★★★★

Earn up to $800 with a Scotiabank Ultimate package and an investment plan. Plus, earn up to 5.40% interest for 3 months on your MomentumPLUS Savings Account. Valid until March 1, 2025.

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Scotiabank Student Banking Advantage Plan

★★★★★

Earn a welcome cash bonus of up to $100 and 7,500 Scene+ points when you open an account. Apply by February 28, 2025.

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Scotiabank MomentumPLUS Savings Account

Earn up to 5.40% for 3 months on your first account opened.

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How does the Scotiabank chequing account promotion work?

With the Scotiabank chequing account promotion, you can earn a cash bonus of up to a $800 by completing three steps by May 31, 2025. This chequing account offer is available when you open either of these chequing accounts by March 1, 2025:

Step 1: Earn $400

First, you’ll earn $400 by completing any two of the following steps within 60 days of opening your new Scotiabank chequing account:

  1. Set up at least one eligible automated and recurring direct deposit per month, such as payroll or pension, for a minimum of six consecutive months.
  2. Set up a minimum of two separate eligible recurring pre-authorized transactions worth at least $50 each for a minimum of six consecutive months.
  3. Make at least one eligible online bill payment of at least $50 through Scotia OnLine or the Scotiabank mobile app.

Step 2: Earn $50

Next, you can earn another $50 by opening a new eligible RRSP, TFSA or FHSA by March 1, 2025. Then you have to set up a pre-authorized contribution of at least $100 per month from any Scotiabank personal account into your new registered plan for at least three consecutive months by May 31, 2025.

Step 3: Earn up to $350

To earn up to $350 more, you must open a second eligible RRSP, TFSA or FHSA and deposit $5,000 into both registered plans by March 1, 2025. Keep the balances in both plans until May 31, 2025.

If you don’t want to open a second registered plan, you can still earn $150 by depositing $5,000 into the RRSP, TFSA, or FHSA you already opened by March 1, 2025. Keep that balance until May 31, 2025.

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 1.00% that you'll earn on all savings 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 up to 0.65%, which is earned when you choose a 90, 180, 270 and/or 360-day premium period. 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 3.65% for 3 months, calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account.

Scotiabank offers for newcomers

Scotiabank Preferred Package
Finder Rating: ★★★★★ 3.7 / 5
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Scotiabank Preferred Package

Earn $800
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
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 $800 with a Scotiabank Preferred package and an investment plan. Valid until March 1, 2025. Plus, earn up to 5.35% 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 and credit unions are offering competitive promotions right now. Compare these other promos with Scotiabank offers:

RBC Signature No Limit Banking Account

★★★★★

Get $450 when you open an RBC Signature No Limit Banking Account. Apply by February 10, 2025.

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RBC VIP Banking Account

★★★★★

Get $450 when you open an RBC VIP Banking Account. Apply by February 10, 2024.

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BMO Performance Chequing Account

★★★★★

Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Performance 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 March 3, 2025. Also earn a 4.75% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.

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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 March 3, 2025. Also earn a 4.75% bonus interest rate when you add a Savings Amplifier Account.

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BMO New to Canada Performance Chequing Account

★★★★★

Earn up to a $700 welcome bonus. Valid until January 31, 2025. Plus, enjoy no monthly plan fee banking for one year, and send unlimited BMO Global Money Transfers with no fee.

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Simplii No Fee Chequing Account

★★★★★

Earn $500 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends February 28, 2025.

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National Bank The Total Chequing Account

Get $150 towards an eligible National Bank credit card you activate after opening a National Bank The Total Chequing Account.

National Bank Connected Account

Get $30 towards an eligible National Bank credit card you activate after opening a National Bank Connected Account.

BMO Performance Student Chequing Account

★★★★★

Earn a $125 cash bonus and up to 12 months of Domino’s Pizza (worth $95, one pizza per month) when you open a new BMO Student Chequing Account. Valid until February 28, 2025.

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KOHO Earn Interest

Earn up to 5.00% interest with a high interest savings account. Pick a KOHO plan and opt-in to Earn Interest.

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Simplii High Interest Savings Account

Earn 6.00% interest for 5 months on up to $1,000,000 in savings. Apply by January 31, 2025.

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EQ Bank TFSA

1% match on new deposits (for a limited time)

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EQ Bank Personal Account

★★★★★

Earn 3.75% interest on your money for 12 months and 2.00% thereafter.

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You can explore more options from the Big Five banks, digital banks, credit unions and prepaid cards in our guide to the best bank promotions in Canada.

FAQs about Scotiabank promotions and offers

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Publisher

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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