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.
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.
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.
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. During recent welcome offer windows, a qualifying deposit into a Money Master account has counted for a $100 slice of the Preferred and Ultimate Package bundles.
Deposits are eligible for CDIC coverage.
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.
Last updated: July 8, 2026
Savings