Expired Hot Deals

[Scotiabank] [repost] Earn up to 3.00% interest with MomentumPLUS Savings Account

  • Last Updated:
  • Sep 25th, 2019 12:28 am
[OP]
Newbie
May 9, 2019
7 posts
2 upvotes
Montreal, QC

[Scotiabank] [repost] Earn up to 3.00% interest with MomentumPLUS Savings Account

Deal Link:
Expiry:
November 30, 2019
Retailer:
Scotiabank
More offers from Scotiabank
Here’s how you can earn up to 3.00% interest (for a limited period of time and for only the portion of "new funds"):
->Regular Interest Rate (1.00%),
+ Premium Period Interest Rate (up to 1.00% if you leave money in the Scotiabank MomentumPLUS Savings Account for 360 days. Based on the premium period chosen : see here for more rates) and
+ Limited time Bonus Interest Rate Offer (1.00% until January 31, 2020)
= up to 3.00%

Here’s how to qualify for the 1.00% Bonus Interest (the last percent you need):
  1. If you don't have a Scotiabank MomentumPLUS Savings Account yet, be pleased to open one before November 30, 2019 as sole or primary owner, then;
  2. Complete the Campaign Enrollment process by November 30, 2019 11:59 pm EST. For jointly held accounts, all owners on the account must enroll and comply with the Terms & Conditions; and
  3. Deposit "new funds" (which means from other banks or financial institutions) into your Scotiabank MomentumPLUS Savings Account. Only "new funds" deposited since August 26, 2019 and until November 30, 2019 will count as qualified "new funds" for the 1.00% Bonus interest.
    (Funds transferred from any other Scotia Bank account won't count as "new funds". They must come from other institutions to qualify for this offer. And of course, you should deposit the "new funds" into your Scotiabank MomentumPLUS Savings Account to earn the Bonus interest)
In other words:
  • You get the Regular Interest Rate of 1.00% for sure.
  • Then, you could earn additional (up to) 1.00% if you leave your money in your Scotiabank MomentumPLUS Savings Account for 360 days. See the premium period and rates : here.
  • Finally, you must qualify yourself for the last 1.00% Bonus interest, which runs until January 31, 2020 but only on the "new funds" portion of your saving amount.
Complete Offer Terms and Conditions in this link.
Last edited by thunit on Sep 25th, 2019 12:51 am, edited 2 times in total.
6 replies
Deal Addict
User avatar
Jan 18, 2005
1856 posts
107 upvotes
Thanks op, but the details of this offer are very confusing especially on the site, could you elaborate how you get the 3.0% and how long you have to leave the money in to earn it?

Thanks.
Nikon D810, 16-35 F4 VR, 105 F2.8 VR, 200-500 F5.6E VR, 70-200 F2.8E VR
[OP]
Newbie
May 9, 2019
7 posts
2 upvotes
Montreal, QC
PTMBAA wrote:
Sep 24th, 2019 6:17 am
repost
Is it? Could you provide the link of the other post, please?
Deal Addict
Oct 4, 2008
1083 posts
184 upvotes
magical wrote:
Sep 24th, 2019 1:38 am
Thanks op, but the details of this offer are very confusing especially on the site, could you elaborate how you get the 3.0% and how long you have to leave the money in to earn it?

Thanks.
You don’t. They have false numbers to make you believe you are getting more money than you do.

If you put 10k for a year, you will earn 241 through their mumbo jumbo marketing, effectively making 2.41%.
If you keep money for 5 months, you might make a bit more, but not even close to 3.
This should be considered false advertising....why not advertise 15% interest if for example they pay you 15% for one day under condition you keep money for 2 years and rest of those two years they pay you 1%. They could still make you believe you are earning 15% even though you would come out with barely 1.1% after two years.

I really want people to not believe Scotiabank campaigns. They are lying in our faces considering we don’t know basic math.
Deal Fanatic
User avatar
Nov 18, 2008
6877 posts
1350 upvotes
Mont-Royal
tmonies wrote:
Sep 24th, 2019 11:16 pm
Essentially 4 months of 3% interest on money deposited before Oct 1st... Or 3 months on money deposited on Nov 1 etc... Since the promo rate is valid until Jan 30th 2020. The full period of the promotional interest rate was 5 months (Sept 2019 to Jan 2020).
then you must keep that amount for an extra 8 months with regular interest to keep the 3% they gave you.

very bad deal.

Even losing the tangerine lottery is better
"Every marathon you run, your heart scars and you will die faster. If you think running a marathon is fitness, then you know NOTHING ABOUT HEALTH & FITNESS."
- Training 101

Top