Banking advice and solutions for medical students
Let us contact you
Want to learn more about how our Physician Banking Program can best serve your needs? Please share your contact information and how we can best reach you and one of our Scotiabank Advisors or Healthcare Specialists will contact you.
Advice for medical students
Medical school can be expensive, and managing your finances can also be stressful. You deserve specialized advice and answers to your questions to help you navigate this important chapter in your career. We break down some of the top questions pre-med and medical students ask.

Frequently asked questions
Banking solutions for medical students
Scotiabank has worked with MD Financial Management (MD), to deliver the Scotiabank Healthcare+ Physician Banking ProgramΔ with banking solutions designed to meet your unique needs as a medical student. In addition to the Scotia Professional® Student Plan Line of Credit as a medical student you can receive savings and rewards on personal banking solutions to help you manage your finances.
Scotia Professional® Student Plan Line of Credit
- Up to $350,000 at Prime -0.25%1 fully available at account opening
- No payments required until you're finished residency, plus another two years repayment grace period2
- Option to continue with a revolving line of credit post-schooling and residency
- No annual fee
Scotiabank Ultimate Package
- Monthly account fee waiver with no minimum balance required (approximate value of $371/year)3
- Earn $300 cash4 when you open a new Scotiabank Ultimate Package by September 30, 2022
- Unlimited debit transactions5, Interac e-Transfer† transactions and Scotia International Money Transfers6
- Up to $139 annual fee waiver each year on select credit cards7
- Earn an additional 0.10% interest on your MomentumPLUS Savings Account8
- Unlimited free Global non-Scotiabank ABM withdrawals9
Select one or both credit cards below to get a combined pre-approved credit limit of up to $10,000

Scotiabank Passport™ Visa Infinite* Card
- Save the annual fee10
- Earn up to 35,000 bonus Scene+ points in your first year (that’s up to $350 towards travel)11
- Earn up to 2X Scene+ points on eligible purchases12
- Complimentary airport lounge membership including 6 free visits per year13 (value of $300)
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)14 and comprehensive insurances15
To qualify, the customer must have a minimum annual income of $60,000 or a minimum household income of $100,000 or a minimum assets under management of $250,000
Preferred annual interest rates are 19.99% on purchases and 22.99% on cash advances, annual fee $139 for primary card, $0 for one additional supplementary card and $50 for each additional supplementary card thereafter

Scotiabank Gold American Express® Credit Card
- Save the annual fee16
- For a limited time, earn up to 45,000 bonus Scene+ points in your first year17 (value of up to $450)
- Earn up to 5X Scene+ points on eligible purchases18
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)14 and comprehensive insurances15
- Preferred annual interest rates are 19.99% on purchases and 22.99% on cash advances, annual fee $120 for primary card, $29 for each additional supplementary card
Ready to talk?
Find the right Advisor for your personal needs.

Scotiabank Advisor
To learn more, contact an Advisor or call Scotiabank Healthcare+ at 1-888-222-3918

MD Advisor
Already an MD client or want to talk about your financial plans? Contact your MD Advisor or visit md.ca
To be eligible for the Physician Banking Program benefits you must be a Canadian resident that meet one of the following conditions:
• Enrolled in a Canadian university medical degree program
• Has been accepted or is completing a medical residency in Canada
• Medical fellow who is completing a Canadian fellowship granted by the Royal College of Physicians and Surgeons of Canada
• Physician with a medical doctorate (MD) and licensed to practice medicine in a Canadian province or territory
• Retired physician with a medical doctorate (MD) and has practiced medicine in a Canadian province or territory
$300 Cash Offer for Preferred Package or $300 Cash Offer for Ultimate Package Conditions:
To qualify for the $300 cash offer for Preferred Package or $300 cash offer for Ultimate Package (each an “Offer”, collectively the “Offers), you must:
1. Open a new Ultimate Package or new Preferred Package (each an “Eligible Account”) by September 30, 2022; and
2. Complete any two (2) of the following activities in your Eligible Account within 60 days of Eligible Account opening:
Make at least one (1) eligible online bill payment† of at least $50 through the Scotiabank Mobile App or through Scotia OnLine, or
Set up and clear a minimum of two (2) separate eligible recurring pre-authorized transactions† with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of three (3) consecutive months, or
Set up and clear at least one eligible automated and recurring direct deposit†, such as payroll or pension, which will recur monthly for a minimum of three (3) consecutive months.
Eligibility and Exclusions: Individuals who are currently holders of a Scotiabank Chequing Account are not eligible for the Offers. Individuals who were previously holders of a Scotiabank Chequing Account within the last two (2) years are not eligible for the Offers. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offers.
General Terms: The $300 cash bonus for Preferred Package or $300 cash bonus for Ultimate Package will be deposited to the Eligible Account within six (6) months from account open date provided all Offer conditions outlined above have been met. The Eligible Account must be open and in good standing until the time of payout of the cash bonus. The Eligible Account is not in "good standing" if: (i)it has a negative balance exceeding the authorized overdraft limit, or (ii)it has been in continuous overdraft for a period of three consecutive months. These Offers are non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, only the first Eligible Account opened will be eligible for the Offer. For joint accounts, only one (1) cash bonus Offer will be applied to the primary account holder’s Eligible Account. All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
The 25,000 Bonus Scene+ Points Offer (the “Offer”) applies only to new Scotiabank Passport Visa Infinite credit card accounts (“Accounts”) that are opened by July 4, 2022 and is subject to the below terms and conditions. All other terms and conditions of the Program Terms continue to apply. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Plus, as a Scotiabank Passport Visa Infinite credit cardholder you are always eligible to earn an annual 10,000 Scene+ point bonus when you spend at least $40,000 in everyday eligible purchases annually on your Scotiabank Passport Visa Infinite account. Conditions apply - see below for further details.
Offer Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.
25,000 Bonus Scene+ Point Offer Description and Conditions: To qualify for the 25,000 bonus Scene+ points (the “Bonus Offer”), you must have at least $1,000 in eligible purchases posted to your new Account within the first 3 months. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. The 25,000 Bonus Offer points will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days following the qualifying $1,000 in eligible purchases being posted to your Account within 3 months from the Account open date, provided the Account is open and in good standing. The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account. Bonus Offer applies to new Accounts only opened by July 4, 2022.
10,000 Annual Bonus Scene+ Point Conditions: As a Scotiabank Passport Visa Infinite credit cardholder you can earn an annual Scene+ point bonus starting at 10,000 Scene+ points when you make at least $40,000 in eligible purchases annually on your Account each year (12-months). Annual period starts from the Account open date and resets every 12 months thereafter. You will earn 2,000 bonus Scene+ points for every additional $10,000 in eligible purchases thereafter in that same year, after the $40,000 annual spend has been reached. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges.
The Annual bonus Scene+ points will be credited within approximately 2-3 business days after you have met the $40,000 annual spend threshold on the Account and within approximately 2-3 business days after you have met each additional $10,000 annual spend threshold on the Account, provided your Account is open and in good standing (as defined above).
Rates and Fees: The current annual fee is $139 for the primary card, $0 for one additional supplementary card and $50 for each additional supplementary card thereafter.
The current preferred annual interest rates for this Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change.
You will earn 2 points per $1 on the first $50,000 in purchases made on your Scotiabank Passport Visa Infinite account (the “Account”) annually at the following: purchases made at merchants classified in the Visa credit card network as: Grocery Stores and Supermarkets; Eating Places and Restaurants, Drinking Places, Fast Food Restaurants; Entertainment including Motion Picture Theaters, Theatrical Producers, Ticket Agencies, Bands, Orchestras, Miscellaneous Entertainers; Railroads, Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Taxicabs and Limousines, Bus Lines, Transportation Services (Not Elsewhere Classified). Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by the credit card network in another manner, in which case this added benefit would not apply. The annual spend calculation for the $50,000 maximum threshold is calculated annually from January 1st to December 31st each year.
You will earn 1 point per $1 on purchases made on the Account after the 2 points per $1 / $50,000 annual spend maximum is reached and on all other purchases made on the Account.
Scene+ points are only awarded on purchases. Scene+ points are not awarded for cash advances, balance transfers, Scotia Credit Card Cheques, payments, returns, refunds or other similar credits, fees or interest or other charges. Scene+ points must be redeemed within 60 days of Account closure or they will be deleted permanently. If your Account is not in good standing, the accumulated Scene+ points are not eligible for redemption.
The 45,000 Bonus Scene+ Points Offer (the “Offer”) applies only to new Scotiabank Gold American Express credit card accounts (“Accounts”) opened by July 4, 2022 and is subject to the below terms and conditions. Offer may be changed, cancelled or extended without notice at any time and cannot be combined with any other offers.
45,000 Bonus Scene+ Point Offer Description and Conditions: To be eligible for 25,000 bonus Scene+ points (the “25,000 Point Bonus”), you must open a new Account by July 4, 2022 and have at least $1,000 in eligible purchases posted to your new Account in the first 3 months. To be eligible for an additional 20,000 bonus Scene+ points (the “Extra 20,000 Point Bonus”), you must have at least $7,500 in eligible purchases posted to your new Account in your first year (12 months) from the Account open date. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges.
The 25,000 Point Bonus will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days after the qualifying $1,000 in eligible purchases being posted to your Account within the first 3 months from the Account open date, provided the Account is open and in good standing. The Extra 20,000 Point Bonus will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days after you have met the $7,500 annual spend threshold on the Account, provided your Account is open and in good standing. The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.
Rates and Fees: The current annual fee is $120 for the primary card and $29 for each additional supplementary card. The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change
You will earn the accelerated Scene+ points (5X or 3X as applicable) under the Scene+ program (the “Program”) if you make purchases in Canadian currency only. For purchases that are made in foreign currency, you will only earn 1 Scene+ point for every $1 charged to the Scotiabank American Express® credit card (the “Account”) once that foreign currency has been converted into Canadian dollars.
Scene+ points are awarded for purchases charged to Account. Scene+ points earn rate: The first accelerated earn rate is 5 Scene+ points (as applicable) per $1 charged to the Account for purchases in Canadian currency at merchant locations classified as Groceries, Dining and Entertainment. The second accelerated earn rate is 3 Scene+ points (as applicable) per $1 charged to the Account for purchases in Canadian currency at merchant locations classified as Gas, Daily Transit and Select Streaming Services. The regular earn rate is 1 Scene+ point per $1 for all other purchases charged to the account. Merchants qualifying for the accelerated earn rate: The accelerated earn rates applies to purchases made at American Express merchants in the Grocery Stores and Supermarkets (Merchant Code: 5411), Dining including Eating Places and Restaurants, Drinking Places, and Fast Food Restaurants, and Delivery of Food as a primary business. (Merchant Code: 5812, 5813, 5814, 5824, 5967 and 7311). Entertainment including Motion Picture Theatres, Theatrical Producers and Ticket Agencies, Bands, Orchestras and Miscellaneous Entertainers (Merchant Code: 7832, 7922, 7929) and 3X points for Gas including Gas Service Stations (with or without Ancillary Services) and Automated Fuel Dispensers (Merchant Code: 5541 and 5542). Daily Transit including Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Taxicabs and Limousines, Bus Lines, Transportation Services (Not elsewhere Classified) (Merchant Code: 4121, 4111, 4112, 4131, 4784, 4789). Select Streaming Services including (4899, 5967, 5969, 7399) and whose primary business and related services as identified by Scotiabank are eligible streaming services (excluding gaming). Eligible streaming service merchants are subject to change. Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by American Express in another manner, in which case this added benefit would not apply. Spend threshold for the accelerated earn rate: The first and second accelerated earn rate applies to the first $50,000 in purchases annually on the Account, at merchants qualifying for the accelerated earn rate, which will be calculated from January 1st to December 31st each year. Once you exceed this threshold, you will continue earning points at the regular earn rate of 1 point per $1 in purchases. Eligibility: Cash advances (including Balance Transfers, Scotia Credit Card Cheques and Cash-Like Transactions), interest, fees or other charges, card payments and returns, refunds or other similar credits do not earn Scene+ points. Scene+ points will not be posted to an Account that is not in good standing when purchases are made or when a statement is issued, or to an Account that is not open when the statement is issued.