Banking advice and solutions for medical residents

All banking and credit products and services are offered by The Bank of Nova Scotia (“Scotiabank”) unless otherwise noted. Credit and lending products are subject to credit approval by Scotiabank. Terms and conditions apply to all reward programs and benefits and should be reviewed carefully before applying. All offers, rates, fees, features, reward programs and benefits and related terms and conditions are subject to change. Visit scotiabank.com or speak with your MD Advisor or a Scotiabank representative for full details.

Registered trademarks of The Bank of Nova Scotia.

Scene+ and the Icon Design are trademarks of Scene Plus IP Corporation, used under license. 

American Express is a registered trademark of American Express. The Scotiabank Gold American Express® credit card program is issued and administered by The Bank of Nova Scotia under license from American Express.

Visa Int./ Licensed User.

MD Advisor refers to an MD Management Limited Financial Consultant or Investment Advisor (in Quebec), or an MD Private Investment Counsel Portfolio Manager.

Click here for a list of eligible direct deposits, pre-authorized transactions and online bill payments. Notwithstanding a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Offers.Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Offers.

MD Financial Management includes MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited.

MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.ca.

To be eligible for the Physician Banking Program benefits you must be a Canadian resident that meet one of the following conditions: 

• Enrolled in a Canadian university medical degree program 

• Has been accepted or is completing a medical residency in Canada 

• Medical fellow who is completing a Canadian fellowship granted by the Royal College of Physicians and Surgeons of Canada

• Physician with a medical doctorate (MD) and licensed to practice medicine in a Canadian province or territory

• Retired physician with a medical doctorate (MD) and has practiced medicine in a Canadian province or territory  

The annual interest rate will vary with Scotiabank Prime and, where applicable, the adjustment factor. Scotiabank Prime is the prime lending rate of Scotiabank published from time to time and is subject to change. We may also change the adjustment factor with prior notice. You can find the current Scotiabank Prime lending rate at https://www.scotiabank.com/ca/en/personal/rates-prices.html or by contacting Scotiabank 1(800) 4SCOTIA (1-800-472-6842). Credit limits are subject to credit approval and approval of study program. Upon approval, the credit limit (total authorized credit limit) may be allocated by Scotiabank into annual credit limit(s) per year, depending on your study program year(s) and type of study program. Please see your Scotiabank Advisor for more information and see your Disclosure Statement for full details.

While you remain in school and for 24 months after your residency program ends (the “Repayment Grace Period”) no payments will be required on your Scotia Professional Student Plan Line of Credit (the “Account”) so long as your balance does not exceed the credit limit on your Account but interest will continue to accrue during that Repayment Grace Period and is charged on any amount you borrow starting from the day you borrow until you pay that amount in full. See your Application Disclosure Statement we provide you or speak with your Scotiabank Advisor for more information about the repayment grace period and how interest is charged to your Account.

The Ultimate Package monthly account fee is waived for eligible physician clients on one (1) Ultimate Package account (“Account”). The monthly account fee will be waived and will not appear as a charge on your Account provided the Account is open and in good standing at the time of the waiver. All other applicable service charges on the Account will continue to be applied. Maximum one offer per customer. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice.

Additional fees apply for shared ABM services, cross-border debit transactions and other banking services not included in the chequing account package. Fees may initially be charged for Interac e-Transfer transactions in excess of 99 in a month but will be reversed in the subsequent month. For accounts that do not provide unlimited debit transactions, a charge for additional debit transactions may apply if you perform an Interac e-Transfer transaction over and above the number of debit transactions allowed in the account. 

For Ultimate Package customers, no service fee is charged for the transfer, however, foreign currency exchange rates apply. Subject to daily limits and additional terms and conditions as set out in the Scotiabank International Money Transfer Agreement found at www.scotiabank.com/ca/en/personal/ways-to-bank/scotiabank-international-money-transfer-agreement.html.

If you open an Ultimate Package account (the “Account”), on or after the date you open the Account (“Account Open Date”) you will receive an annual fee waiver (“Annual Fee Waiver”), each year for as long as you have one eligible Scotiabank Credit Card account (an “Eligible Card”) and the Account. You will receive the Annual Fee Waiver, even if you opened an Eligible Card prior to the Account Open Date. Eligible Cards are the Scotiabank Gold American Express, Scotiabank Passport™ Visa Infinite*, Scotia Momentum® Visa Infinite and Scotiabank Value® Visa* credit cards. Eligible Cards are subject to change. Each Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account or Eligible Cards opened. The Annual Fee Waiver will be applied to the first annual fee for a primary Card charged on an Eligible Card after the Account Open Date. If there is more than one Eligible Card after the Account Open Date, the Annual Fee Waiver will be applied only to the first annual fee for a primary card that is charged on an Eligible Card after the Account Open Date. All other fees and charges applicable to the Eligible Card continue to apply. Annual Fee Waiver will not be applied if your Account or Eligible Card is not open or is not in good standing and cannot be combined with any other annual fee waiver offer. Current annual fees, rates and other features for Eligible Cards are subject to change.

Ultimate Package account holders will receive a boost to the Regular Interest Rate (the “Ultimate Interest Rate Boost”). Refer to the Current Rates Page on Scotiabank.com for the Total Annual Interest Rate applicable to the Ultimate Package (current Regular Interest Rate plus Ultimate Interest Rate Boost), which is subject to change at any time without advance notice. It will take up to 10 business days after activating an Ultimate Package account for the Ultimate Interest Rate Boost to apply. The Ultimate Interest Rate Boost will cease to apply effective as of the date that the Ultimate Package account is closed. The Ultimate Interest Rate Boost is an annual rate calculated daily on the Momentum^PLUS Savings Account(s) closing balance and paid monthly.

The Ultimate Package account includes non-Scotiabank Interac⁺ ABM cash withdrawals in Canada and cash withdrawals at non-Scotiabank Visa* or PLUS* ABMs within and outside of Canada. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank.

If you open a new Scotiabank Passport Visa Infinite credit card account (“Account”) you will receive an annual fee waiver (“Annual Fee Waiver”) each year for as long as you are a Scotia Professional Student Plan customer and provided the Account remains open and in good standing. Customers not in Scotia Professional Student Plan will receive a first-year annual fee rebate only provided the Account remains open and in good standing. The Account is considered in good standing if it is not delinquent (past due) or over limit and there is no breach of the Revolving Credit Agreement or any other agreement(s) that applies to the Account. The Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account.  All other fees and charges applicable to the Account continue to apply.  Annual Fee Waiver is non-transferable and cannot be combined with any other annual fee waiver offer. Current annual fees, rates and other features for the Account are subject to change.

* Savings and reward potential in first 12 months based on the following card usage and offers:

 

$250 in travel rewards (25,000 bonus Scene+ points) when you spend $1,000 within your first 3 months;

 

$100 in travel rewards (10,000 bonus Scene+ points) when you spend $40,000 annually on your Account each year (12-months).

 

$50 additional card fee waiver on your first additional card (including those issued to co-borrowers and supplementary cardholders) every year;

 

$104 in foreign transaction fee savings based on average first year annual foreign spend per account (save the 2.5% foreign transaction fee typically charged by other card issuers);

 

$287 in travel rewards (28,733 Scene+ points) on everyday purchases based on average annual first year spend per account with an average spend of 19% in 2x accelerator categories.

 

$343 value with a complimentary Visa Airport Companion Program Membership and 6 lounge passes (annual membership plus one free visit of approx. CAD$134/USD$99 plus 5 lounge passes at CDN$42/USD$31 per pass). Currency conversion as at March 30, 2023.

 

Potential First Year Value = up to $1,134

Actual savings and rewards earned will depend on individual card usage and eligibility for applicable offers. Conditions apply.

 

Offer Description and Conditions: The 25,000 Bonus Scene+ Points Offer (the “Offer”) applies only to new Scotiabank Passport Visa Infinite credit card accounts (“Accounts”) that are opened by January 3, 2024 subject to the conditions below.  Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.   

 

Plus, as a Scotiabank Passport Visa Infinite credit cardholder you are always eligible to earn an annual 10,000 Scene+ point bonus when you spend at least $40,000 in everyday eligible purchases annually on your Scotiabank Passport Visa Infinite account. Conditions apply - see below for further details. 

 

25,000 Bonus Scene+ Point Offer Description and Conditions: To qualify for the 25,000 bonus Scene+ points (the “Bonus Offer”), you must have at least $1,000 in eligible purchases posted to your new Account within the first 3 months of the Account open date. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers or cash-like transactions), interest, fees or other charges. The 25,000 Bonus Offer points will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days following the qualifying $1,000 in eligible purchases being posted to your Account within 3 months from the Account open date, provided the Account is open and in good standing. The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account. Bonus Offer applies to new Accounts only opened by January 3, 2024. All other terms and conditions of the Program Terms continue to apply during the Offer period.

 

10,000 Annual Bonus Scene+ Point Conditions: As a Scotiabank Passport Visa Infinite credit cardholder you can earn an annual Scene+ point bonus starting at 10,000 Scene+ points when you make at least $40,000 in eligible purchases annually on your Account each year (12-months). Annual period starts from the Account open date and resets every 12 months thereafter. You will earn 2,000 bonus Scene+ points for every additional $10,000 in eligible purchases thereafter in that same year, after the $40,000 annual spend has been reached.  Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers or cash-like transactions), interest, fees or other charges.

 

The Annual bonus Scene+ points will be credited within approximately 2-3 business days after you have met the $40,000 annual spend threshold on the Account and within approximately 2-3 business days after you have met each additional $10,000 annual spend threshold on the Account, provided your Account is open and in good standing (as defined above). 

 

Offer Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are also eligible for the Offer. 

 

Rates and Fees: The current annual fee is $150 for the primary card, $0 for the first additional card and $50 for each additional card thereafter (including those issued to co-borrowers and supplementary cardholders). 

 

The current preferred annual interest rates for this Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers and cash-like transactions). All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are  subject to change.

You are awarded three (3) Scene+ Points for every eligible $1.00 purchase made at Sobeys, Safeway, IGA, Foodland, Foodland & Participating Co-ops, FreshCo, Chalo! FreshCo, Thrifty Foods, Rachelle Béry, Les Marchés, Voilà by Sobeys, Voilà by Safeway and Voilà par IGA locations charged and posted to the Scotiabank Passport Visa Infinite Account. This list of eligible grocers may be changed from time to time without notice. See full list of participating merchants across Canada at scotiabank.com/participatingstores.

 

You are awarded two (2) Scene+ Points for every eligible $1.00 purchase on all other grocery (not listed above), dining, entertainment, and daily transit purchases charged and posted to the Scotiabank Passport Visa Infinite Account (the earn rates for each of the above categories and merchants are referred to as the “Accelerated Earn Rates”). See below for the Spend Threshold that applies to this Accelerated Earn Rate.

 

You are awarded one (1) Scene+ Point for every $1.00 in all other purchases of goods and services charged to the Scotiabank Passport Visa Infinite Account (the “Regular Earn Rate”).

 

Spend Threshold for the Accelerated Earn Rate (Scotiabank Passport Visa Infinite Accounts only):

You will earn the Accelerated Earn Rate on the first $50,000 in purchases made on your Scotiabank Passport Visa Infinite account (the “Account”) annually at the following: purchases made at merchants classified in the Visa credit card network as: Grocery Stores and Supermarkets; Eating Places and Restaurants, Drinking Places, Fast Food Restaurants; Entertainment including Motion Picture Theatres, Theatrical Producers, Ticket Agencies, Bands, Orchestras, Miscellaneous Entertainers; Railroads, Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Taxicabs and Limousines, Bus Lines, Transportation Services (Not Elsewhere Classified). Some merchants may sell other products/services or are separate merchants who are located on the premises of these merchants, but are classified by the credit card network in another manner, in which case this added benefit would not apply. The annual spend calculation for the $50,000 maximum threshold is calculated annually from January 1st to December 31st each year. You will earn 1 point per $1 on purchases made on the Account after the 2 points per $1 / $50,000 annual spend maximum is reached and on all other purchases made on the Account. Scene+ points are only awarded on purchases. Scene+ points are not awarded for cash advances, balance transfers, Scotia® Credit Card Cheques, payments, returns, refunds or other similar credits, fees or interest or other charges. Scene+ points must be redeemed within 60 days of Account closure or they will be deleted permanently. If your Account is not in good standing, the accumulated Scene+ points are not eligible for redemption.

 

All dollar amounts are in Canadian currency unless otherwise stated.

Primary Cardholders with a valid Scotiabank Passport Visa Infinite Card account (the “Account”) have access to participating lounges within the Visa Airport Companion Program (“Program”), hosted and managed by DragonPass International Ltd.  Cardholders must enroll for this benefit either through the Visa Airport Companion App (available to download for free) or on the Program Website using a valid Card on the Account. Upon enrollment, 6 complimentary lounge visits will be available for the Primary Cardholder per membership year; the complimentary visits can be used by any Cardholder for themselves and for their accompanying guests at participating lounges (however, Primary Cardholder must be present for each such use).  Lounge visits are counted on a per person per visit basis (e.g. lounge access by a Cardholder and one accompanying guest will count as two (2) visits). All additional visits beyond complimentary visits are subject to a fee of $32 USD (subject to change) per person per visit. Applicable lounge access fees will be charged to the Card connected to the Cardholders’ Program membership (i.e. the Card enrolled in Program).

To view a full list of participating airport lounges, their facilities, opening times and restrictions Cardholders can visit the Program App and Website.  To view the full Terms and Conditions for the Program, including DragonPass Terms of Use and Privacy Policy and Visa’s Privacy Policy that apply to the Program, visit the Visa Airport Companion Program App or Website. 

The Program services and benefits are provided by DragonPass and applicable third party offer providers and neither Visa nor The Bank of Nova Scotia is responsible for the Program or any claims or damages arising from participation in the Program.

Unless the Program membership is suspended or cancelled, the Program membership and any included complimentary lounge visits (if applicable) will automatically renew annually on the anniversary date (based on date when the Cardholder enrolled for the Program). Program membership will be cancelled if your Scotiabank Passport Visa Infinite Card is cancelled. If your Scotiabank Passport Visa Infinite Card is renewed or replaced, remember to update your card details within the Visa Airport Companion Program (either on the App or on the Program Website).

Access upon presentation of a valid and enrolled Scotiabank Passport Visa Infinite Card, while available in most lounges within the Visa Airport Companion Program, is subject to availability.

We will not charge you Foreign Transaction Fees on foreign currency transactions including purchases, only the exchange rate applies. The term “Foreign Transaction Fees” is a substitute for “Foreign Currency Conversion” as described in the Disclosure Statement for this Card. This fee relates to the 2.5% mark-up that is typically charged by credit card issuers in addition to the exchange rate. See the Foreign Currency Conversion section of the Welcome Kit for this Card or download it at www.scotiabank.com/welcomekits for full details. Rates and fees are subject to change

Scotiabank is not an insurer. All claims for insurance indemnities must be forwarded to the insurers. Complete details of the coverage are in the Certificate of Insurance and Terms and Conditions provided with the new Card.

If you open a new Scotiabank Gold American Express credit card account (“Account”) you will receive an annual fee waiver (“Annual Fee Waiver”) each year for as long as you are a Scotia Professional Student Plan customer and provided the Account remains open and in good standing.  Customers not in Scotia Professional Student Plan will receive an annual fee rebate provided the Account remains open and in good standing The Account is considered in good standing if it is not delinquent (past due) or over limit and there is no breach of the Revolving Credit Agreement or any other agreement(s) that applies to the Account. The Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account.  All other fees and charges applicable to the Account continue to apply.  Annual Fee Waiver is non-transferable and cannot be combined with any other annual fee waiver offer. Current annual fees, rates and other features for the Account are subject to change.

* Savings and reward potential in first 12 months based on the following card usage and offers:

 

$400 in travel rewards (40,000 bonus Scene+ points) when you spend $1,000 within your first 3 months (to earn 20,000 points) and when you spend $7,500 within your first 12 months (to earn an additional 20,000 points); 

 

$33 in foreign transaction fee savings based on average first year annual foreign spend per account (save the 2.5% foreign transaction fee typically charged by other card issuers);

 

$247 in travel rewards (24,709 Scene+ points) on everyday purchases based on average annual first year spend on the Account with an average spend of 21% in 5x accelerator and 7% in 3X accelerator categories.

 

Potential First Year Value = up to $680

Actual savings and rewards earned will depend on individual card usage and eligibility for applicable offers. Conditions apply.

 

Offer Description and Conditions: The 40,000 Bonus Scene+ Points  Offer (the “Offer”) applies only to new Scotiabank Gold American Express credit card accounts (“Accounts”) opened by July 1, 2024 and is subject to the conditions below. Offer may be changed, cancelled or extended without notice at any time and cannot be combined with any other offers. 

 

40,000 Bonus Scene+ Point Offer Description and Conditions: To be eligible for 20,000 bonus Scene+ points (the “20,000 Point Bonus”), you must open a new Account by July 1, 2024 and have at least $1,000 in eligible purchases posted to your new Account in the first 3 months of the Account open date. To be eligible for an additional 20,000 bonus Scene+ points (the “Annual 20,000 Point Bonus”), you must have at least $7,500 in eligible purchases posted to your new Account in your first year (12 months) of Account open date. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers or cash-like transactions), interest, fees or other charges. 

 

The 20,000 Point Bonus will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days after the qualifying $1,000 in eligible purchases being posted to your Account within the first 3 months of Account open date, provided the Account is open and in good standing. The Annual 20,000 Point Bonus will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days after you have met the $7,500 annual spend threshold on the Account, provided your Account is open and in good standing. The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account. All other terms and conditions of the Program Terms continue to apply during the Offer period.

 

Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are also eligible for the Offer.

 

Rates and Fees:  The current annual fee is $120 for the primary card and $29 for each additional card (including those issued to co-borrowers and supplementary cardholders).

The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers and cash-like transactions). 

All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are subject to change.

You are awarded six (6) Scene+ Points for every eligible $1.00 CAD purchase made at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry, and Co-Op locations charged and posted to the Scotiabank Gold American Express Account. This list of eligible grocers may be changed from time to time without notice. See full list of participating merchants across Canada at scotiabank.com/participatingstores.

 

You are awarded five (5) Scene+ Points for every eligible $1.00 CAD purchase on all other grocery (not listed above), dining, and entertainment charged and posted to the Scotiabank Gold American Express Account. You are awarded three (3) Scene+ Points for every eligible $1.00 CAD purchase in gas, public transit and select streaming services purchases charged and posted to the Scotiabank Gold American Express Account (the earn rates for each of the above categories and merchants are referred to as the “Accelerated Earn Rates”). You are awarded one (1) Scene+ Point for every $1.00 in all other purchases of goods and services charged to the Scotiabank Gold American Express Account (the “Regular Earn Rate”).

 

You will earn the accelerated Scene+ Points (6X, 5X or 3X as applicable) under the Scene+ program if you make purchases in Canadian currency only. For purchases that are made in foreign currency, you will only earn 1 Scene+ Point for every $1 charged to the Scotiabank American Express® credit card once that foreign currency has been converted into Canadian dollars.

 

Merchant classifications – American Express network Purchases must be made at merchants classified through the American Express network with a Merchant Category Code (“MCC”) that identifies them in the American Express network in the “grocery”, “dining”, “entertainment”, “gas”, “streaming service” or “transit” category. Purchases at merchants where these categories are not their primary business do not qualify. Some merchants may (i) provide other goods or services; or (ii) have separate merchants located on their premises that may not be classified with an MCC under the Accelerated Earn Rate categories and such purchases will not earn the Accelerated Earn Rate as applicable. The Accelerated Earn Rates for the Scotiabank Gold American Express Card applies to the first $50,000 in purchases charged to the Scotiabank Gold American Express Account annually at merchants qualifying for the Accelerated Earn Rate, calculated annually from January 1st to December 31st each year. Once you exceed the applicable annual spend threshold, you will continue earning points at the Regular Earn Rate of one (1) Scene+ Point per $1.00 in purchases charged and posted to the Scotiabank Gold American Express Account. Eligibility: Only purchases earn Scene+ Points. Cash advances (including Balance Transfers and Cash-Like Transactions), fees, interest or other charges, returns, refunds or other similar credits to your Account do not qualify for Scene+ Points. Scene+ Points will not be posted to an Account that is not in good standing when purchases are made or when a statement is issued, or if the Account is not open when a statement is issued. See your Scene+ Points terms at www.scotiabank.com/sceneplus for full program details. All dollar amounts are in Canadian currency unless otherwise stated.

All mortgages are subject to meeting Scotiabank’s standard credit criteria, residential mortgage standards and permitted loan amounts.  Some conditions apply.  The offers can be changed or withdrawn at any time without notice.  

The projected income is an average estimated amount based on available industry data and is subject to change.  Your actual income may vary.  Terms and conditions apply.

You may be required to repay cashback if your mortgage is paid out, assumed, transferred or renewed before maturity.  

The Miss-a-Payment and Match-a-Payment options are not available during the interest-only portion of any progress draw construction mortgage and may not be available depending on the mortgage solution you select

$400 Banking Package and Registered Account Bundle Offer Description and Conditions:  

The Scotiabank $400 Cash Bonus Bundle Offer (the “Offer”) is available between November 1, 2023 and February 29, 2024 (the “Offer Period”) to individuals who open new eligible accounts.  Subject to the conditions below, eligible customers can earn $350 when they open a new Preferred Package or Ultimate Package and complete certain qualifying transactions and an additional $50 boost when they open a new eligible Scotia Registered Retirement Savings Plan or Tax-Free Savings Account (each an “Eligible Registered Account”) and set up and clear a recurring pre-authorized contribution with a minimum value of $50 per month for a minimum of three (3) consecutive months. 

 

For the purposes of this Offer, the following Scotia registered accounts are eligible for the Offer: Scotia Registered Retirement Savings Plans (RRSPs, excluding Locked-In Plans such as LIRAs and LRSPs) (each an “RRSP”) and Scotia Tax-Free Savings Accounts (each a “TFSA”). Scotia RRIFs, FHSAs, RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer.

 

$350 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $350 cash bonus (the “Package Bonus”), you must:

1. Open a new Ultimate Package or new Preferred Package (the “Eligible Chequing Account”) during the Offer Period; and
2. Complete any two (2) of the following activities in your Eligible Chequing Account within 60 days of Eligible Chequing Account opening:

• Set up and clear at least one eligible automated and recurring direct deposit^†, such as payroll or pension, which will recur monthly for a minimum of three (3) consecutive months, or
• Set up and clear a minimum of two (2) separate eligible recurring pre-authorized transactions^† with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of three (3) consecutive months, or
• Make at least one (1) eligible online bill payment^† of at least $50 through the Scotiabank Mobile App or through Scotia OnLine.

^† Click here for a list of eligible direct deposits, pre-authorized transactions and online bill payments. Notwithstanding a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Package Bonus. Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Package Bonus.

  

$50 Registered Account Bundle Conditions: To qualify for an additional $50 cash bonus (the “Bundle Bonus”), you must meet all of the Package Bonus conditions above and during the Offer Period:

1. Open a new Eligible Registered Account ; and
2. Set up a recurring pre-authorized contribution (PAC) from any Scotiabank personal bank account of at least $50 total per month in your new Eligible Registered Account, which must have recurred for a minimum of 3 consecutive months by May 31, 2024.

 

Eligibility and Exclusions:  Individuals who are currently holders of, or who were previously holders within the last two (2) years of, a Scotiabank Chequing Account are not eligible for the Package Bonus. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. In order to qualify for the Bundle Bonus the individual cannot have held the same type of Eligible Registered Account (as that opened during the Offer Period) with either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”) in the 6 months preceding the Offer Period. Employees of Scotiabank are also not eligible for the Package Bonus or Bundle Bonus.

 

General Terms: Provided all Package Bonus conditions outlined above have been met, the $350 Package Bonus will be deposited to the Eligible Chequing Account within approximately six (6) months from Account open date. The additional $50 Bundle Bonus will be deposited to your Eligible Registered Account on or around August 31, 2024 provided all Bundle Bonus conditions have been satisfied. For either cash bonus to be fulfilled, the Eligible Chequing Account and the Eligible Registered Account, as applicable, must be open and in good standing until the time of payout of the cash bonus. The Eligible Chequing Account is not in "good standing" if any of the following conditions are not met: (i) it has a negative balance exceeding the authorized overdraft limit, (ii) it has been in continuous overdraft for a period of three consecutive months, or (iii) the Account holder is in breach of the Account agreement with Scotiabank. For purposes of this Offer, an Eligible Registered Account is not in 'good standing' if the account holder is in breach of the Eligible Registered Account agreement.

 

This Offer is non-transferable and may not be duplicated. Limit of one (1) Package Bonus and one (1) Bundle Bonus per customer, regardless of the number of Eligible Chequing Accounts or Eligible Registered Accounts opened. If more than one (1) Eligible Chequing Account is opened, only the first Eligible Chequing Account opened will be eligible for the Package Bonus. If more than one (1) Eligible Registered Account is opened, only the first Eligible Registered Account opened will be eligible for the Bundle Bonus. For joint accounts, only one (1) $350 Package Bonus will be applied to the primary account holder’s Eligible Chequing Account and only one (1) $50 Bundle Bonus will be applied to the primary account holder’s Eligible Registered Account. All rates, fees, features and benefits are subject to change. This Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers, except the Scotiabank Registered Account Welcome Offer.

The Scotiabank Registered Account Welcome Offer (the “Offer”) is available between November 1, 2023 and February 29, 2024 (the “Offer Period”) to individuals who open an eligible Scotia Registered Retirement Savings Plan or Tax-Free Savings Account during the Offer Period (each an “Eligible Registered Account”) and complete certain qualifying activities.

 

For the purposes of this Offer, the following Scotia Registered Accoun  ts  are eligible for the Offer: Scotia Registered Retirement Savings Plans (RRSPs, excluding Locked-In Plans such as LIRAs and LRSPs) (each an “Eligible RRSP”) and Scotia Tax-Free Savings Accounts (each an “Eligible TFSA”). Scotia RRIFs, FHSAs, RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer. In order to qualify for a Cash Bonus (defined below) the individual cannot have held the same type of Eligible Registered Account (as that opened during the Offer Period) with either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”) in the 6 months preceding the Offer Period.  

 

To qualify for a cash bonus (the “Cash Bonus”):

1. Open one or more new Eligible Registered Account(s) during the Offer Period;

2. By February 29, 2024, contribute or transfer-in a Minimum Qualifying Investment Amount (as defined below) into your new Eligible Registered Account(s) and maintain that Minimum Qualifying Investment Amount until May 31, 2024 to qualify for either of the following Cash Bonuses:
 

Minimum Qualifying Investment Amount*	Eligible Registered Account(s)	Cash Bonus
$3,000 into any one of your new Eligible Registered Account(s)	Either an Eligible RRSP or Eligible TFSA	$150
$3,000 into both a new Eligible RRSP and a new Eligible TFSA (for a total minimum of $6,000 combined)	Both an Eligible RRSP and an Eligible TFSA	$350

*For purposes of calculating the Minimum Qualifying Investment Amount, the book value of the contributions and/or transfers-in will be used to determine eligibility.

3. By February 29, 2024 set up a recurring pre-authorized contribution (PAC) from any Scotiabank personal bank account of at least $50 total per month in any of your Eligible Registered Account(s), which must have recurred for a minimum of 3 consecutive months by May 31, 2024.

 

General Terms:

Customers are responsible to confirm their contribution limits noted on their most current Notice of Assessment issued by the Canada Revenue Agency prior to making any contribution to their Eligible Registered Account(s).  Scotiabank is not responsible for any contribution over a customer’s limit in connection with this Offer.  The Cash Bonus is not considered a contribution and therefore will not impact contribution limits.   

 

As applicable, the Cash Bonus will be paid into your new Eligible Registered Account on or around  July 31, 2024 provided all Offer conditions outlined above have been satisfied.  Your Eligible Registered Account(s) must be open and in good standing at the time of the Cash Bonus payout. For purposes of this Offer, an Eligible Registered Account is not in 'good standing' if the account holder is in breach of the Eligible Registered Account’s client account agreements.  If more than one Eligible Registered Account is opened and each qualifies for the Offer, the Cash Bonus will be paid into only one of the Eligible Registered Account(s) in the following order: (1) Eligible RRSP, then (2) Eligible TFSA.  In the case where multiple Eligible Registered Accounts of the same type are opened (e.g., where multiple Eligible RRSPs are opened), the Cash Bonus will be paid into only one of the new Eligible Registered Accounts.  For a spousal RRSP, the Cash Bonus will be paid into that plan and not paid to the contributor. 

 

This Offer is non-transferable, non-saleable, may not be exchanged for cash and may not be duplicated. Limit of one (1) Cash Bonus per customer, regardless of the number of Eligible Registered Accounts opened. Offer may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise permitted.

30,000 Scene+ Bonus Points Terms and Conditions: The Scotia Professional Student Plan (SPSP) Line of Credit Scene+ Bonus Point Offer (the “Offer”) is available to Eligible Participants who open a SPSP Line of Credit and meet all Offer conditions. To be eligible to receive a 30,000 Scene+ bonus (the “Bonus”) Eligible Participants must:

1. apply for a new SPSP Line of Credit between December 4, 2023, and February 29, 2024 (the “Offer Period”) and if approved*, open their new SPSP Line of Credit by March 18, 2024; 
2. not have been a previous SPSP Line of Credit holder; 
3. have or open an active Scotiabank chequing account during the Offer Period;
4. have or open a free Scene+ account; and
5. provide an email address to receive the Bonus. 

*The SPSP Line of Credit is subject to credit approval by Scotiabank. 

“Eligible Participants” include Canadian residents who are not currently holders of, or who never previously held within the last two (2) years, a SPSP Line of Credit, and who are:

• registered in an accredited Canadian university medical degree program (excluding residency or fellowship programs) or who have been accepted or are completing a medical residency in Canada;
• Medical fellows completing a Canadian fellowship granted by the Royal College of Physicians and Surgeons of Canada;
• Physicians with a medical doctorate (MD) who completed their residency or fellowship in 2022 or 2023 and are licensed to practice medicine in a Canadian province or territory;
• registered in an accredited Canadian university dental degree program or who have been accepted or are completing a dental residency in Canada;
• Dental doctorates (with a DDS or DMD) who completed their degree or residency in 2022 and 2023 and are licensed to practice dentistry in a Canadian province or territory.

Eligible Participants who qualify for the Bonus will be sent a unique code via email on or around September 16, 2024, in order to claim their bonus Scene+ points.

This Offer is non-transferable and may not be duplicated. Limit of one (1) Bonus per Eligible Participant regardless of the number of SPSP Lines of Credit opened. For joint SPSP Line of Credit accounts, only one (1) Bonus will be applied to the Scene+ member account of the primary account holder of the SPSP Line of Credit. All rates, fees, features and benefits are subject to change. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers except as otherwise permitted.

Scene PINs must be redeemed online only and are non-transferable, non-saleable and not redeemable for cash. Scene+ points have no cash value. Neither the Bank nor Scene LP are responsible for and will not replace PINs that are lost, stolen, not received, or used without permission.

$350 Cash Offer for Ultimate Package Conditions: To qualify for the $350 cash offer for Ultimate Package (the “Offer”), you must:

1. Open a new Ultimate Package (“Eligible Account”) between December 4, 2023, and February 29, 2024; and
2. Complete any two (2) of the following activities in your Eligible Account within 60 days of Eligible Account opening:
   • Make at least one (1) eligible online bill payment^† of at least $50 through the Scotiabank Mobile App or through Scotia OnLine; or
   • Set up and clear a minimum of two (2) separate eligible recurring pre-authorized transactions^† with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of three (3) consecutive months, or
   • Set up and clear at least one eligible automated and recurring direct deposit^†, such as payroll, which will recur monthly for a minimum of three (3) consecutive months.

^† Click here for a list of eligible direct deposits, pre-authorized transactions, and online bill payments. Notwithstanding a transaction may be included in these lists, certain exclusions may still apply, and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Offer. Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g., credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Offer.
 

Eligibility and Exclusions: Individuals who are currently holders of a Scotiabank Chequing Account are not eligible for the Offer. Individuals who were previously holders of a Scotiabank Chequing Account within the last two (2) years are not eligible for the Offer. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offer.
 

General Terms: The $350 cash bonus for Ultimate Package will be deposited to the Eligible Account within approximately six (6) months from Eligible Account open date provided all Offer conditions outlined above have been met. The Eligible Account must be open and in good standing until the time of payout of the cash bonus. The Eligible Account is not in "good standing" if: (i) it has a negative balance exceeding the authorized overdraft limit, or (ii) it has been in continuous overdraft for a period of three consecutive months. This Offer is non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, only the first Eligible Account opened will be eligible for the Offer. For joint accounts, only one (1) cash bonus Offer will be applied to the primary account holder’s Eligible Account. All rates, fees, features and benefits are subject to change. Offer may be changed, cancelled, or extended at any time without notice and cannot be combined with any other offers except as otherwise permitted.

Registered trademarks of The Bank of Nova Scotia. 

Banking and credit products and services are offered by The Bank of Nova Scotia (Scotiabank). Credit and lending products are subject to credit approval by Scotiabank. All offers, rates, fees, features, reward programs and benefits and related terms and conditions are subject to change.

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