• Scotia Bank No Fee Savings Accounts Review

    Scotia Bank Canada offers clients a variety of savings account options that calculate interest daily and pay monthly. Some of Scotia Bank's savings account require a minimum balance to earn the highest interest rate, and others allow for a certain number of monthly withdrawals at lower interest. Scotia Banks savings account structure is very similar to many other large Canadian banks. You have the choice of earning high interest with no or very few allowed transactions, or low interest with lots of room for withdrawals. Overall the Scotia Power Savings account is a great option, but the alternatives are less competitive than what other Canadian banks can offer. If your looking for a good Canadian savings account that pays a decent amount of interest while allowing you to make transactions, we suggest checking out the competition.

    Scotia Bank Power Savings Account Review (1.35% interest $5K Min Balance)

    The Scotia Bank Power Savings Account is the highest interest bearing savings account Scotia Bank has to offer. It currently pays 1.35% Interest on balances of $5,000 or more. The account allows for unlimited transfers to and from your Scotia Bank Power Savings Account to any other Scotia account you may have. You will however, pay a flat $5.00 fee for ATM withdrawals or Interact debit purchases from this savings account. This account has no monthly fees.

    Scotia Bank Money Masters Savings Account Review (0.15-0.25% Interest no Min Deposit)

    The Scotia Bank Money Master Savings Account is exactly like the above account but pays interest on balances below $5,000 at 0.15%. You still have unlimited transaction between your Scotia accounts but you will have to pay that $5.00 for withdrawals, bill payments or debit withdrawals from this account. There are no monthly fees on this account.

    Scotia Bank Daily Interest Plus Savings Account Review (No Minimum Balance .10% Interest)

    The Scotia Bank Daily Interest Plus Savings Account is a little more flexible than the above savings accounts. There is no minimum deposit required on this account and there are no monthly fees. The only fees you pay on this savings account is $0.85 for debit withdrawals and bill payments etc...This is significantly cheaper than the $5.00 per withdrawal on the above accounts but the interest rate is also significantly lower on this account.

    Visit Scotia Bank Canada