Book an appointment

Book a meeting with a Scotia advisor

It starts with a simple conversation over the phone or in person.

Call us to book an appointment at 1-800-472-6842 1-800-472-6842

Find a Scotiabank branch

Come by your nearest branch and meet with a financial advisor.

Go to Branch Locator Locate your branch

Scotia Plan® Loan

Whether you need a borrowing solution to help you with large purchases or to consolidate debt, we’ve got you covered.

Scotia Plan® Loan
Book an appointment

Right for you if:

  • You want the structure of a fixed payment term loan rather than a revolving credit
  • You want to save money, by consolidating higher interest balances
  • You want to finance a large purchase 
  • You want the peace of mind of knowing when the loan will be paid off

Benefits of Scotia Plan® Loan 

Flexible terms 

  • Take up to 5 years to pay it back
  • Pay off your loan at any time without prepayment penalties

Customized payment structure  

  • Pick a weekly, bi-weekly, or monthly payment plan 
  • Change how much you pay, how often, or even what days you make a payment 

Interest rate options

  • Choose between a fixed and variable rate

Postpone a payment 

  • Postpone one payment each year that you have the loan2

Manage your loan online 

  • View loan details, including outstanding balance, payment amount, and remaining term
  • Make an extra payment at any time if needed

Secure your loan 

Calculate your Scotia Plan Loan payments 

Quickly estimate how much your payments would be on a personal loan.

Calculate my payments

What do I need to apply?

Here are the documents you need to apply for a Scotia Plan® Loan:

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

  • Passport 
  • Driver’s license 
  • Identification card

Proof of employment

  • Salary slips/letters
  • Employment letter

Self-employment documents

  • Recent CRA My Account Assessment 
  • Recent NOA and corresponding T1 General 4-page summary (for self-employed, commissioned sales, or other non-employment income) 

Apply for the Scotia Plan® Loan today

Scotia Plan Loan FAQs

Take a look at the difference between loans and lines of credit to identify what suits your needs.

Loan Line of credit
Borrow money for a specific need, such as making a large purchase. Flexible borrowing solution that allows you to borrow money when needed for expenses like home renovations, large purchases or major life events.
Structured monthly payments that include a principal portion, as well as an interest portion. Designed to help pay off debt within a specific timeframe. Draw funds (up to the credit limit) and pay down at your convenience provided monthly minimum payments are made. Minimum payments can be as low as interest only.
Once paid off, customer no longer has access to funds. Funds always available as long as the account is in good standing. No need to re-apply.
Scotia Plan Loan doesn’t offer optional creditor insurance. Optional creditor insurance.


The Personal Credit Agreement Companion Booklet outlines the terms and conditions that apply to your Scotia Plan Loan. Download a copy or come back any time to view it.