• Scotiabank No Fee Savings Accounts Review

    Scotiabank offers Canadians a few different options when it comes to savings accounts. The two savings accounts reviewed below are the best no fee savings accounts that offer a competitive interest rate. The Scotiabank "Momentum Savings" account is currently offering up to 3.20% interest during a special promotional period which is a really great deal. The "Savings Accelerator" account is more of an all purpose savings account that offers tiered interest rates based on the balance in the account.

    Scotiabank Momentum Savings Account Review (1.05% Interest / Special Offer 3.20% Limited Time)

    The Scotiabank Momentum Savings Account is a great all-purpose no fee Canadian savings account that requires no minimum balance to receive a competitive interest rate. Scotiabank also offers additional bonus interest whether there is a promotion currently running or not with this account. The current promotion running now is a good one paying more than current 1 year GIC's at all major banks across Canada.

    Scotiabank Momentum Savings Account Details

    Monthly Fee: Free
    Interest Rate: 1.05% + Extras
    Minimum Balance: No Minimum
    Monthly Transfers: Unlimited transfers to and from your personal Scotiabank accounts
    ATM other Debit Transfers: $5.00 per transaction

    Scotiabank Accelerator Savings Account Review (0.05-1.15% Tiered Interest)

    The other no fee savings account offered by Scotiabank is the Accelerator Account. The main feature of this account is that it is TFSA eligible. You do need to have a minimum of $5,000 in this account to earn interest at 1.05% which is the same rate at the Momentum account that offers no minimum balance so it might be wise to just go with the Momentum account. If you have a balance of $250K in this account you will earn a slightly higher 1.15% interest.

    Scotiabank Accelerator Account Details

    Monthly Fee: Free
    Interest Rate: 0-$5K 0.05%, $5K+ 1.05%, $250K+ 1.15%
    Monthly Transfers: Unlimited to and from your Scotiabank Accounts
    ATM and Other Transfers: $5.00 Each
    TFSA Eligible: Yes

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  • Questrade RRSP & TFSA

    Questrade is a Canadian online brokerage that allows you to manage your own RRSP or TFSA and invest in everything from Stocks to Mutual Funds to Foreign Currency. Register using our link and receive $50 in free trades.