ScotiaLine® Personal Line of Credit

Enjoy the benefit of a lower-interest way to borrow money. You can use it when needed1 with the convenience of an access card. It's a good option for you to consider if you are looking for financial flexibility.

ScotiaLine® Personal Line of Credit
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Right for you if:

  • You want additional credit at a low rate to help finance large expenses like a home renovation, life event or vacation
  • You want to save money on interest by using your line of credit to transfer higher rate balances to your lower rate line of credit
  • You prefer a simple way to manage your cashflow
  • You want a rainy-day fund to cover unexpected expenses
  • You enjoy having flexible options to repay any funds you access – you may be eligible for different minimum payment options1 

Benefits of a ScotiaLine Personal Line of Credit

No annual fee

No annual fee applies to the ScotiaLine Personal Line of Credit account.6

Credit limits starting from $5,000 and up to $75,0002

Apply for your credit limit for your line of credit based on your borrowing needs.

Flexible repayment options

You choose how much to repay, with payments that can be as low as interest only.3

No need to reapply

You can continue to use your available credit and keep the line of credit available for your future needs.4

Convenient access to funds

Access funds from your line of credit through your Mobile App, Online Banking, ABM, Access Card in-store, and cheques.

Visa Access Card

  • Use your access card to get cash advances at ABMs6 locally and worldwide or use it to pay in-store or online anywhere Visa cards are accepted.2
  • Enjoy special discounts on car rentals

How to use and access your line of credit  

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How to consolidate debt and save money on interest

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Optional Scotia Line of Credit Protection5

Get the Coverage that's Right for You!

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What do I need to apply?

Here are the documents you need to apply for a ScotiaLine Personal Line of Credit.

Identification (one of the following valid pieces of government issued ID):

  • Passport
  • Driver's licence
  • Valid government issued identification card

Proof of employment:

  • Employment letter
  • Salary slips/letters

Self-employment documents:

  • Proof of self-employment (e.g., recent CRA My Account Assessment or recent NOA and corresponding T1 General 4-page summary)

Line of credit FAQs

A line of credit can help you manage your cash flow, especially for periods in the year where you have more financial demands such as holidays, or if you have irregular income. Consolidating your higher interest rate credit card debt and other high interest credit balances into a new line of credit at a lower interest rate can help you reduce how much you're paying monthly in interest and that should help you to pay off your debt more quickly. You could also find a line of credit useful as an emergency fund. It can help you cover unexpected expenses, such as major home repairs.

When you borrow money, you agree to pay it back with interest over time. With a loan, you know it will be paid off over a specific period of time with fixed payments. With a line of credit, you have the flexibility to repay as much as you want or if you qualify, as little as interest only every month1.   You can always pay your balance in full.

A loan is also not a revolving credit, which means that once your loan is paid off, you no longer have access to those funds and will need to reapply if needed. With a line of credit, the convenience of only having to apply once helps with availability of funds up to your available credit limit4

Enjoy special discounts on car rentals of up to 25% at participating AVIS and Budget car rental locations worldwide — just present your access card at any participating location to pay from your ScotiaLine Line of Credit account or visit, or call 1-800-TRY-AVIS (879-2847) and quote Avis Worldwide Discount number C2196007.  For Budget, visit or call 1-800-268-8900 and quote Budget Corporate Discount number A363300.

For general rates and information about ScotiaLine Personal Line of Credit please call us at 1-888-882-8958.

Not sure this is the right borrowing solution for you?

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