Higher Interest Together:earn higher interest as a Chamber Member under the Scotiabank Crowd Deposit Plan
Under a new agreement with Scotiabank, you can now opt in to a Crowd Deposit fund as a Chamber Member.
Your savings remain separate from other participants’, but the interest you earn will be based on the combined balances of all participating Chamber Members. Because the collective balance is bigger, everyone participating can earn a higher interest rate on their individual balances.
Here’s how it works:
- Individual account balances are combined within a single Crowd Deposit Plan.
- The interest rate is based on this combined balance1
- Because the collective balance is bigger, everyone can earn a higher interest rate on their individual balances.
Compare the difference the Crowd Deposit Plan can make:2
All accounts participating in the Crowd Deposit Plan will use the same interest rate based on the interest rate tier of the aggregate balance.
- Interest rates and tiers are customized to suit your company.3
- Account holders can withdraw funds at any time.
- Accounts remain individually owned by the account holder.
- Individual account statements are sent directly to the account holders.
- There’s no maintenance or transaction fees.4
- It’s available for Canadian or U.S. funds.
Interested in signing up? Visit the Scotiabank website for more information and to get started.
Participation is limited to Members in good standing of the Thunder Bay Chamber of Commerce.
1. Interest is calculated daily and deposited monthly into the account.
2. Accounts within the plan are subject to minimum and maximum deposit amounts as authorized by the plan owner.
3. The interest rate and/or interest rate tiers are subject to change at our discretion at any time.
4. Please see Your Guide to Fees and Interest Schedules for details.