Banking advice and solutions for practising physicians
Banking that grows with you throughout your career
Fit in a mortgage when it’s convenient for you.
The Scotiabank Healthcare+ Physician Banking Program has flexible mortgage solutions designed for your busy schedule.
Advice for practising physicians
Scotiabank has worked with MD Financial Management to deliver the Physician Banking ProgramΔ with customized solutions to meet your unique needs as a physician. In addition to saving and rewards, this includes specialized policies and banking solutions created with medical professionals like you in mind.

Frequently asked questions
Banking solutions for practising physicians
Scotiabank has worked with MD to deliver the Scotiabank Healthcare+ Physician Banking ProgramΔ with customized solutions to meet your unique needs as a physician. In addition to saving and rewards, this includes specialized policies and banking solutions created with medical professionals like you in mind.
Personal Line of Credit
- Preferred interest rate of Prime -0.25%1
- No annual fee

Scotiabank Preferred Package Chequing Account
- Monthly account fee waiver (value of $16.95 a month)
- Unlimited free Interac e-Transfer† transactions
- 1 free non-Scotiabank ABM withdrawal per month in Canada2
- Earn points on every purchase with choice of reward program (SCENE® or Scotia Rewards®)3
- No monthly fee on a U.S. Dollar Daily Interest Account4

Scotiabank PassportTM Visa Infinite* Card
- Save the annual fee ($139 annual fee waived continuously for Scotia Professional® Plan customers5; customers not in Scotia Professional® Plan receive a first-year fee rebate only)
- Earn up to 40,000 bonus Scotia Rewards® points in your first year6 (value of up to $400)
- Earn up to 2X Scotia Rewards® points on eligible purchases7
- Complimentary airport lounge membership including 6 free visits per year8 (value of $300)
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)9 and comprehensive insurances10
- Preferred annual interest rates are 19.99% on purchases and 22.99% on cash advance
- 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

Scotiabank Gold American Express® Card
- Save the annual fee ($120 annual fee rebated11 or waived continuously)12
- For a limited time, earn up to 40,000 bonus Scotia Rewards® points in your first year13 (value of up to $400)
- Earn up to 5X Scotia Rewards® points on eligible purchases14
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)15 and comprehensive insurances10
- Preferred annual interest rates are 19.99% on purchases and 22.99% on cash advances

Mortgages and Home Equity Lines of Credit
- Flexible solutions with preferred rates for residents, fellows and physicians on fixed, closed and variable rate mortgage terms16
- For residents, fellows and new-to-practice physicians, the mortgage amount qualified for is based on estimated projected income17
- Preferred interest rate of Prime -0.25%1 on Scotiabank Personal Line of Credit under the Scotia Total Equity® Plan (STEP)
- Option to earn Scotia Rewards® points on your mortgage advance and cashback on your annual interest payments18
- Miss-a-Payment and Match-a-Payment option19
- Portability of your mortgage
Private Banking solutions for practising physicians
As a physician, continuing to build your practice, focusing on your family and planning for what’s next creates new and different financial opportunities. With Scotia Wealth Management Private Banking, you can simplify your life with a single point of contact for both your personal and practice banking needs.
We place a heavy emphasis on being responsive, working with a sense of urgency to prioritize your needs and requests. You can transact with confidence, meaning fewer delays or challenges and more time for you to focus on your medical practice and your family.
As a Private Banking client, you have access to banking and credit solutions for your personal and practice needs all in one place.
- 12-month Private Banking monthly service package fee waived for your household, for up to five accounts16
- Reduced monthly service package fee of $75 after the first 12 months16
- Dedicated Private Banker and Associate, including access to their network of wealth management specialists
- Access to our innovative Total Wealth Credit Solution™, a flexible borrowing platform that allows you to take advantage of investment opportunities using any combination of real estate, investment portfolios and/or insurance as loan collateral
- Financing for clinic purchase and renovation: up to 100% financing/12-year amortization; leasing option available
- Complimentary access to Pursuits™ our concierge and travel management platform17
- Preferred foreign exchange rates
- Annual fee waived for Scotiabank Passport™ Visa Infinite* Card18. No foreign currency conversion mark-up applies to foreign currency transactions made. Only the exchange rate applies19. You also receive six complimentary airport lounge visits20.
- 10,000 SCENE Point welcome gift to use in theatres or online
Your Scotia Wealth Management Private Banker can provide credit solutions that support your immediate and long-term investment needs. As a credit strategist with expertise in debt structuring we will work directly with you to consider:
- Your personal investment objectives
- Assets held personally or through professional corporations
- Tax-efficiency
- Funding of interest expenses
When it comes to service and proactivity, insight and innovation are essential to maximize your opportunities and enable your life.
Ready to talk?
Find the right Advisor for your personal needs.

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

MD Advisor
Already an MD client and want to talk about your financial plans? Contact your MD Advisor or visit md.ca
All banking and credit products and services are offered by The Bank of Nova Scotia (“Scotiabank”) unless otherwise noted. Credit and lending products are subject to credit approval by Scotiabank. Terms and conditions apply to all reward programs and benefits and should be reviewed carefully before applying. All offers, rates, fees, features, reward programs and benefits and related terms and conditions are subject to change. Visit scotiabank.com or speak with your MD Advisor or a Scotiabank representative for full details
American Express is a registered trademark of American Express. The Scotiabank Gold American Express® credit card program is issued and administered by The Bank of Nova Scotia under license from American Express
MD Financial Management includes MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited.
MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, 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
The Preferred Package account includes 1 free non-Scotiabank Interac⁺ ABM withdrawal within Canada per month. Access fee for each subsequent withdrawal at non-Scotiabank Interac⁺ ABMs will be charged $1.50 per withdrawal. Each cash withdrawal from non-Scotiabank Visa* or PLUS* ABMs will be charged $3.00 in Canada and the U.S. and $5.00 outside of Canada and the U.S. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank.
Scene®* ScotiaCard® debit card: Earn 1 SCENE point for every $5 you spend on debit purchase transactions including Interac Flash and Visa Debit transactions from an eligible account using your Scene®* ScotiaCard® debit card. Other conditions and limitations apply. Visit www.scotiabank.com/scene for complete details.
General information: A card must be connected to a SCENE membership in order to earn and redeem SCENE points. SCENE points accumulated using a card will be updated within 2-3 days. SCENE points can only be redeemed at participating Cineplex Entertainment theatres, online at www.scene.ca for other points offers (or rewards).
Passport ScotiaCard® debit card: Earn 1 Scotia Reward Point for every $5 you spend on debit purchase transactions including Interac Flash and Visa Debit transactions from an eligible account using your Passport ScotiaCard® debit card. Other conditions and limitation apply. Visit scotiarewards.com for complete details
The primary account holder of the Preferred Package qualifies for a monthly fee waiver on a Scotia® U.S. Dollar Daily Interest Account. The primary account holder on the Preferred Package account can be either the primary or joint account holder on the Scotia® U.S. Dollar Daily Interest Account to qualify. If the primary account holder of the Preferred Package had a Scotia U.S. Dollar Daily Interest Account prior to activating a Preferred Package the fee waiver will apply to the bill cycle following the activation of the Preferred Package. Limit of one (1) Scotia® U.S. Dollar Daily Interest Account per Preferred Package account. Both accounts must be in good standing.
If you open a new Scotiabank Passport Visa Infinite credit card account (“Account”) you will receive an annual fee waiver (“Annual Fee Waiver”) each year for as long as you are a Scotia Professional Plan customer and provided the Account remains open and in good standing. The Account is considered in good standing if it is not delinquent (past due) or over limit and there is no breach of the Revolving Credit Agreement or any other agreement(s) that applies to the Account. The Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account. All other fees and charges applicable to the Account continue to apply. Annual Fee Waiver is non-transferable and cannot be combined with any other annual fee waiver offer. Current annual fees, rates and other features for the Account are subject to change.
For a limited time, become a new Scotiabank Passport Visa Infinite credit cardholder and earn a one-time 30,000 Scotia Reward point bonus with your first $1,000 in everyday eligible purchases if made within the first 3 months (the “Bonus Offer”). Bonus Offer ends July 1, 2021. Conditions apply - see 1 below for further details. Bonus Offer may be changed, cancelled or extended 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 Scotia Rewards point bonus when you spend at least $40,000 in everyday eligible purchases annually on your Scotiabank Passport Visa Infinite account. Conditions apply - see 2 below for further details.
Rates and Fees: The current annual fee for the Scotiabank Passport Visa Infinite credit card (“Account”) 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.
1) Bonus Offer Description and Conditions: To be eligible for the Bonus Offer, you must have at least $1,000 in eligible purchases posted to your new Scotiabank Passport Visa Infinite credit card account (“Account”) in the first 3 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 30,000 Bonus Offer points will be credited to the primary cardholder’s Scotia Rewards 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 at time of payout. The Account is considered in good standing if it is not delinquent (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 1, 2021.
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 Bonus Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Bonus Offer.
2) Annual Bonus Point Conditions: As a Scotiabank Passport Visa Infinite credit cardholder you can earn an annual Scotia Rewards point bonus starting at 10,000 Scotia Rewards points when you make at least $40,000 in eligible purchases annually on your Account each year (12-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. Annual period starts from the Account open date and resets every 12 months thereafter. You will earn 2,000 bonus Scotia Rewards points for every additional $10,000 in Purchases thereafter in that same year, after the $40,000 annual spend has been reached.
The Annual bonus Scotia Rewards 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. The Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholders(s) is not in breach of the Revolving Credit Agreement that applies to the Account.
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.
Scotia Rewards points are only awarded on purchases. Scotia Rewards points are not awarded for cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions), returns, refunds or other similar credits, card payments, fees, interest charges or other charges. Scotia Rewards 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 Scotia Rewards points are not eligible for redemption. See the Scotia Rewards program terms at www.scotiarewards.com for more information.
Scotiabank will not charge you Foreign Transaction Fees on foreign currency transactions, only the exchange rate applies. The term “Foreign Transaction Fees” is a substitute for “Foreign Currency Conversion” as described in the application disclosure statement for your new Card. This fee relates to the 2.5% mark-up that is typically charged by credit card issuers in addition to the exchange rate. See the Foreign Currency Conversion section of the Application Disclosure Statement for this Card for full details.
Scotiabank is not an insurer. All claims for insurance indemnities must be forwarded to the insurers. Complete details of the coverage are in the Certificate of Insurance and Terms and Conditions provided with the new Card.
If the customer accepts the Scotia Professional Plan Credit, the credit card fee rebate will be fulfilled as fee waivers.
If you open a new Scotiabank Gold American Express credit card account (“Account”) you will receive an annual fee waiver (“Annual Fee Waiver”) each year for as long as you are a Scotia Professional Plan customer and provided the Account remains open and in good standing. The Account is considered in good standing if it is not delinquent (past due) or over limit and there is no breach of the Revolving Credit Agreement or any other agreement(s) that applies to the Account. The Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account. All other fees and charges applicable to the Account continue to apply. Annual Fee Waiver is non-transferable and cannot be combined with any other annual fee waiver offer. Current annual fees, rates and other features for the Account are subject to change.
For a limited time, open a new Scotiabank Gold American Express credit card account (“Account”) and earn a 30,000 Scotia Reward point bonus with your first $1,000 in everyday eligible purchases if made within the first 3 months. Plus, earn a bonus 10,000 Scotia Rewards points when you spend at least $7,500 in everyday eligible purchases on your Account in your first year. Conditions apply - see below for further details. Offers apply to new Accounts only opened by August 31, 2021. Offers may be changed, cancelled or extended and cannot be combined with any other offers.
Offer Description and Conditions: To be eligible for the 30,000 bonus Scotia Rewards points (the “30,000 Point Bonus”), you must open a new Account by August 31, 2021 and have at least $1,000 in eligible purchases posted to your new Account in the first 3 months from the Account open date. To be eligible for the 10,000 bonus Scotia Rewards points (the “10,000 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 30,000 Point Bonus will be credited to the primary cardholder’s Scotia Rewards 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 at time of payout. The 10,000 Point Bonus will be credited to the primary cardholder’s Scotia Rewards 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 delinquent (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 August 31, 2021.
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 Scotia Rewards points (5X or 3X as applicable) under the Scotia Rewards Program (the “Program”) if you make purchases in Canadian currency only. For purchases that are made in foreign currency, you will only earn 1 Scotia Rewards point for every $1 charged to the Scotia American Express credit card a (the “Account”) once that foreign currency has been converted into Canadian dollars.
Scotia Rewards points are awarded for purchases charged to Account. Scotia Rewards points earn rate: The first accelerated earn rate is 5 Scotia Reward 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 Scotia Reward 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 Scotia Reward 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 Theaters, 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 Scotia Rewards points. Scotia Rewards 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.
We will not charge you Foreign Transaction Fees on foreign currency transactions, including purchases, only the exchange rate applies. The term “Foreign Transaction Fees” is a substitute for “Foreign Currency onversion” as described in the Disclosure Statement you received with your Card. This fee relates to the mark-up that is typically charged by credit card issuers in addition to the exchange rate. See the Foreign Currency Conversion section of the Disclosure Statement for this Card for full details. Rates and fees are subject to change.
All mortgages are subject to meeting Scotiabank’s standard credit criteria, residential mortgage standards and permitted loan amounts. Some conditions apply. The offers can be changed or withdrawn at any time without notice.
You may be required to repay cashback if your mortgage is paid out, assumed, transferred or renewed before maturity.
The Miss-a-Payment and Match-a-Payment options are not available during the interest-only portion of any progress draw construction mortgage and may not be available depending on the mortgage solution you select.