Scotiabank Money Master Savings Account
$200 when you open it with a new chequing account (up to $1,000 in the full bundle)
Welcome bonus
Up to 0.50%
Interest rate
$0
Monthly fee
A no-fee Scotiabank savings account with a small rate boost via the Smart Savings Tool.
Welcome offer
- $200 when you open it with a new chequing account (up to $1,000 in the full bundle)
Offer ends October 29, 2026
Interest rate
Key features
- 0.01% base, up to 0.50% with Smart Savings Tool
- No fee, open with $1
- Free transfers between Scotia accounts
- Qualifies for $100 of Preferred/Ultimate bundle
- CDIC insured
Interest Rate
The Scotiabank Money Master Savings Account earns a base rate of just 0.01%.
You can lift that to a total of 0.50% by enrolling in Scotiabank's Smart Savings Tool, which adds 0.49% on top of the base rate. Without that enrollment, the account earns next to nothing.
Fees
There's no monthly fee on the Money Master Savings Account, and you can open one with as little as $1.
Transfers between your Scotiabank accounts are free when done digitally. Keep in mind that transfers made in-branch or by debit carry a $5 charge.
Account Features
The Money Master Savings Account is Scotiabank's entry-level savings product, with no fee and a $1 minimum to get started.
Its main role in Scotiabank's lineup is as a companion account. Through October 29, 2026, opening a new Money Master account alongside a new Preferred or Ultimate Package, and enrolling it in Pay Yourself First or the Savings Finder tool for 90 days, earns a $200 slice of Scotiabank's bundled offer of up to $1,000.
Deposits are eligible for CDIC coverage.
Legal Disclaimers
Terms and conditions apply. The information for the Scotiabank Money Master Savings Account has been collected independently by Prince of Travel and is not provided or reviewed by Scotiabank. Offers, rates, and fees are subject to change — always confirm details on the financial institution's website before applying.
Scotiabank Money Master Savings Account
Welcome bonus · $200 when you open it with a new chequing account (up to $1,000 in the full bundle)
Apply NowLast updated: July 8, 2026