Scotialine Personal Line of Credit STEP
Right for you if:
You want access to money whenever and wherever you need it
You want a personal line of credit that fits in your wallet
Combines high credit limits and very competitive rates
Minimum payments could be as low as interest only2
Use ScotiaLine cheques to transfer balances or pay for large purchases
Instant cash advances at ABMs in Canada and worldwide
Enjoy special discounts
Notice: Important Changes to Scotiabank Line of Credit Accounts
Effective as of August 1, 2016, some of our fees and terms will change. More details.
- Purchase security and warranty protection4
- Regular cheques are free. Personalized cheques are available for purchase³
- Itemized statements
- Scotia Line of Credit Protection can mean providing the financial support that you may need during a difficult time
Fees & Options
Pay off your entire balance with
Payment could be as low as interest only²
Details & Fees
Secured minimum credit limit: $20,000
No cash advance fee when using your VISA access card at any Scotiabank ABM
Purchase Security and Extended Warranty protection on purchases made with your VISA access card or with your ScotiaLine cheques4
For current rates1 and information on fees and interest, call 1-888-882-8958.
ScotiaLine Personal Line of Credit Fees:
|Dishonoured payment fee
|Non-sufficient funds fee
|Replacement sales draft, cash advance draft or monthly statement fee
|Foreign currency conversion
|Balance transfer fee
||1% of the balance transfer amount
|Cash advance counter fee (any financial institution in Canada)
|Cash advance counter fee (financial institutions outside of Canada)
|Cash advance ABM fee (any Scotiabank ABM in Canada)
|Cash advance ABM fee (non-Scotiabank ABMs in Canada)
|Cash advance ABM fee (ABMs outside of Canada)
Cheques & Cash Advances
Use ScotiaLine Cheques to:
- Transfer balances from gas and retail cards that charge higher interest rates.
- Pay for a large purchase, insurance premiums, medical bills, or utility bills.
Obtain cash advances at:
- Over 1 million ABMs around the world displaying the VISA/PLUS symbols.
- Over 55,000 ABMs displaying the INTERAC symbol in Canada, including Scotiabank ABMs.
- Or, access your account with your ScotiaCard when you link the two together.
Subject to credit approval & security provided. The interest rate you pay on a ScotiaLine Personal 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.
Interest-only minimum payment will be the greater of the interest portion only of the outstanding balance on your statement, or $50, subject to your minimum payment being no more than the outstanding balance on your statement. In addition, amounts showing on your statement as OVERDUE or OVERLIMIT must be paid immediately and will be added to the minimum payment.
To buy ScotiaLine Personal Line of Credit customized cheques and accessories, please contact your Scotiabank branch.
For all insurance coverage, certain limitations, restrictions and exclusions apply. You will receive a Certificate of Insurance, which contains a full description of coverage. Please read them carefully. All claims for insurance indemnities must be forwarded to the insurers. The Bank of Nova Scotia is not an insurer.