Lines of Credit

Choose a borrowing solution that’s right for you

ScotiaLine® Personal Line of Credit

  • Credit limits starting from $5,000 and up to $75,000.*
  • Access to funds through Mobile App, Online Banking, ABM, Access Card, and cheques.
  • Flexible repayment options.
  • No need to reapply. 

ScotiaLine® Personal Line of Credit (real estate secured)

  • Secured borrowing rates.
  • Eligible product for Scotia Total Equity® Plan (STEP).**
  • Low rates with payment options available.

ScotiaLine® Personal Line of Credit for Students

  • Deferred principal payments.
  • Make interest-only payments while you’re still in school.
  • Ability to pay down balance at anytime.
  • No annual fees.

Scotia RSP Catch-Up® Line of Credit

  • Get preferred lending rate and invest in an RSP for your future.°
  • Make regular contributions to your RSP anytime.

Take steps today to help protect the lifestyle you and your family enjoy

Scotia Line of Credit Protection can lighten the financial burden if the unexpected happens

What is a line of credit?

A line of credit is a revolving borrowing solution that allows customers the flexibility and convenience of accessing funds to meet their diverse borrowing needs, typically at a lower interest rate. Whether you’re renovating your home or consolidating debt a line of credit allows you to withdraw funds up to the credit limit, and pay down at your convenience, provided monthly minimum payments are made. With a line of credit, you don’t need to reapply as credit is available again once balance is paid.  

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Ways to apply

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Apply online

Sign in to Scotia Online to apply for the ScotiaLine® Personal Line of Credit.

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By phone

Call Scotiabank

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In person

Make an appointment at your local branch

Advice+ Articles

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Loans vs. Lines of Credit: Which could be right for you?

Let’s take a closer look at the differences between loans and lines of credit and find out which solution is right for you.

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What happens if you miss a credit card or line of credit payment?

Everything you need to know about what happens when you miss a credit card or line of credit payment, your credit score, and what options you may have.

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How Canadians can use home equity: home equity loans and home equity lines of credit

Comparing home equity loans and home equity lines of credit (HELOC).

Useful calculators

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Find a loan that works for you

Our personal loan calculator can help you estimate the payment options that best suit your financial needs.

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How much do you need to finance a car?

Try our auto loan calculator for an estimate of what you need to finance your next vehicle.

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Scotia Total Equity® Plan (STEP) Calculator

Learn how to save on interest by using the equity in your home to borrow at lower interest rates.

Launch STEP calculator