Scotia RSP Catch-Up® Line of Credit
Right for you if:
You want to save for your future
You want to maximize your RSP contributions
Get a preferred lending rate and invest in an RSP for your future.1
Make regular contributions to your RSP.
Pay no interest until you use your line of credit.
- Choose how quickly you pay back the borrowed amount and if you would like to make minimum monthly payments or a one-time payment.
- Payment deferral feature lets you defer for three monthly payments while you wait for your tax refund.²
- Scotia Line of Credit Protection can mean providing the financial support that you and your family may need during a difficult time.
- Up to $50,000 in available credit
- Save for your future and you could save on the taxes you pay in that year.
Fees & Options
Dishonoured payment fee
Fee is charged for each account payment dishonoured by your financial institution on the date the payment is returned/dishonoured.
Non-sufficient fund fee
For each cheque that is drawn on a personal line of credit but returned due to insufficient credit available.*
Charge if an account balance exceeds its credit limit. This fee will apply any time during the statement period, but only once per period.
Find full information on interest and non-interest costs on lines of credit on the form below.
The interest rate for the Scotia RSP Catch-Up Line of Credit is Scotiabank Prime +1% if the RSP contribution is invested with a Scotiabank Group Member or any other Financial Institution.
The interest rate you pay on a Scotia RSP Catch-Up Line of Credit will vary with Scotiabank Prime. Scotiabank Prime is the prime lending rate of The Bank of Nova Scotia as published from time to time. For current rates and information on fees and interest cost, call 1-888-882-8958.
Interest will continue to accrue on the account from the date of the advance and will be charged to the account balance monthly.