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 (Scotia Total Equity® Plan)
- Secured borrowing rates.
- Apply just once to secure your overall borrowing limit ScotiaLine® Personal Line of Credit.**
- 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.
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
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.
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.
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).
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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Try our auto loan calculator for an estimate of what you need to finance your next vehicle.
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.