Defer auto or Scotia Plan Loan payments
Financial relief for auto loan or Scotia Plan Loan payments
Update on COVID-19 support :
Payment deferral requests for auto loans or Scotia Plan Loans are no longer available.
How loan payment deferrals work
Note: Payment deferral requests for auto loans or Scotia Plan Loans are no longer available.
Loan payment deferrals
On unsecured and secured term loans, you can defer up to 3 months of payments.
If you chose to defer your payments, interest continued to accrue, and 3 months of payments were added at the end of your payment schedule.
Insurance on Scotia Plan Loans
If you have an insured Scotia Plan Loan, your Scotia Plan Loan Protection Insurance premium is included with your loan payment and so is also deferred during the deferral period and your insurance coverage is not impacted during the deferral period.
Insurance on auto loans
If you have an insured auto loan, your creditor insurance premiums will continue to be collected from your bank account in order to maintain your insurance coverage.
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