Loans & Lines of Credit
Choose a borrowing solution that’s right for you
Lines of credit
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.
Scotia Plan® Loan
- Take up to 5 years to pay it back.†
- Customized payment structure.
- Choose between a fixed or variable interest rate.
- Manage your loan online
EcoLiving Auto Loan
- Buy a new electric, hybrid or diesel vehicle.
- You could be eligible for a government rebate towards the purchase of a qualified vehicle.
Grad Auto Loan
- Buy a car up to 90 days before you start a full-time job.
- Skip the down payment with 100% financing.±
StartRight® Auto Finance Program
- Qualify for a loan with no Canadian credit history
- Take up to 5 years (60 months) to pay back your loan
Marine and Boat Loan
- Buy a new boat or used sailboat or power boat of any age.
- Take your time to pay off the loan – up to 20 years.
Motorcycle & Leisure Vehicle Loan
- Buy a new motorcycle, All Terrain Vehicle (ATV), quad, snowmobile, personal watercraft (PWC) or other leisure vehicle.
- Or buy a used motorcycle or leisure vehicle that’s up to 5 years old.
How borrowing works
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 as little as interest only every month.2
Frequently Asked Questions
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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.
Leasing vs. buying a car in Canada
Planning to get a car and thinking about whether to buy or lease? Here are some pros and cons to help you make the final decision.
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.
Find a loan that works for you
Our personal loan calculator can help you estimate the payment options that best suit your financial needs.
How much do you need to finance a car?
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.