Archive for 'Scotiabank'

Scotiabank TFSA Interest Rate Increase Update

I was just looking at the interest rate for Scotiabank and apparently the rate has gone up from 1.75% to 2.6% which was a please surprise as you can see here:

I guess that makes the Scotia Tax-Free Savings Account go from one of the lowest interest rate to one of the higher ones now. This is one of the few banks who are trying very hard advertising wise I think as I keep seeing its commercials on TV all the time.

Should be good for everyone who are considering or are currently using them.

Scotiabank TFSA Interest Rate

Okay, lots of people have been asking me if I knew what the TFSA interest rate for Scotiabank was. For some reason this is one of the few banks that haven’t posted the information online and I think I can see why.

But based on the review posted by one of visitors to this site back on January the 7th, the interest rate appears to be 1.75%. You can read the review on the Scotiabank review section at

Because of that interest rate, this is probably a situation where they would rather you go in-branch to find out than to publicly displaying it since it is fairly low. Thanks to Marco for posting the review with all that useful information.

Scotiabank TFSA

I was just visiting the Scotiabank site to see what its TFSA plans were like. First thing that I noticed is that this bank seems to be going all out in trying to educate people about a tax free savings account as they have a full fledged flash presentation and tutorial about it at

As well, they have a load of resources such as a savings calculator tool as well as articles to further educate you the difference between a tax free savings account and others such as a registered retirement savings plan. You can find the links at the main page at,,CID12354_LIDen,00.html.

Unfortunately, similar to most of the bank sites I wasn’t able to immediately find what the interest rate is going to be as most people are more interested in trying to sign as many people up as possible before the launch. They seem to be working the hardest though I must say.