Banking advice and solutions for retired physicians
Banking that grows with you throughout your career
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 retired physicians
You dedicated your medical career to taking care of others and now it is time to enjoy the next chapter of your life — retirement. You deserve specialized advice and answers to your questions to help you manage your retirement finances. We break down some of the top banking questions that retiring and retired physicians ask.

Frequently asked questions
Banking solutions for retired physicians
Together, Scotiabank and MD Financial Management deliver the Scotiabank Healthcare+ Physician Banking ProgramΔ tailored advice and banking solutions for retired physicians to enable you to enjoy your retirement. Let our team of experts focus on your financial well-being so you can spend your valuable time on what matters most – your loved ones and yourself.
Personal Line of Credit
- Preferred interest rate of Prime -0.25%1
- No annual fee
Scotiabank Ultimate Package
- Monthly account fee waiver with no minimum balance required (approximate value of $371/year)2
- Earn $300 cash3 when you open a new Scotiabank Ultimate Package by September 30, 2022
- Unlimited debit transactions4, Interac e-Transfer† transactions and Scotia International Money Transfers5
- Up to $139 annual fee waiver each year on select credit cards6
- Earn an additional 0.10% interest on your MomentumPLUS Savings Account7
- Unlimited free Global non-Scotiabank ABM withdrawals8

Scotiabank PassportTM Visa Infinite* Card
- Save the annual fee9
- Earn up to 35,000 bonus Scene+TM points in your first year (that’s up to $350 towards travel)10.
- Earn up to 2X Scene+TM points on eligible purchases11
- Complimentary airport lounge membership including 6 free visits per year12
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)13 and comprehensive insurances14
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® Card
- Save the annual fee15
- For a limited time, earn up to 40,000 bonus Scene+TM points in your first year16 (value of up to $400)
- Earn up to 5X Scene+TM points on eligible purchases17
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)13 and comprehensive insurances14
- 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

Mortgages and Home Equity Lines of Credit
- Flexible solutions with preferred rates for residents, fellows and physicians on fixed, closed and variable rate mortgage terms18
- Preferred interest rate of Prime -0.25%1 on Scotiabank Personal Line of Credit under the Scotia Total Equity® Plan (STEP)
- Option to earn Scene+TM points on your mortgage advance and cashback on your annual interest payments19
- Miss-a-Payment and Match-a-Payment option20
- Portability of your mortgage
Private Banking solutions for retired physicians
We recognize that your wealth story is uniquely yours. How you manage its complexities to achieve your financial goals is something we care about as much as you do. At Private Banking we offer strategic borrowing solutions, customized banking support and a leading-edge concierge and travel management service.
With your dedicated Private Banker and support team we are ready to ensure your personal and practice needs are considered with care and tailored to your preferences.
As a Private Banking client1, you have access to banking and credit solutions for your personal and practice needs all in one place.
- Preferred pricing for your Private Banking Package Fee of $75/month1
- You will be assigned your own dedicated Private Banker and support team
- Access to strategic financing through our Total Wealth Credit Solution™
- Access to information on our borrowing to invest strategies
- Pursuits™: our concierge and travel management service2
- Hands-on management of time-sensitive transactions in coordination with your other advisors
- Access to a range of exclusive banking benefits3 to complement your everyday banking needs, including:
o Preferred foreign exchange rates4
o Annual fee waivers on the following Scotiabank credit cards: ScotiaGold Passport Visa*, Scotia Momentum® Visa Infinite*, Scotiabank Passport™ Visa Infinite*, Scotiabank® U.S. Dollar Visa* and Scotiabank®* Gold American Express®†5 - 10,000 Scene+TM point welcome gift
Some affluent investors borrow to invest◊ as part of a comprehensive wealth management strategy. They use a customized line of credit to create liquidity against various wealth holdings, allowing them to act quickly to take advantage of opportunities.
Lending for investment purposes (also known as leveraged investing) is a core competency of our Private Banking teams:
- We combine our knowledge of wealth management, transactional banking and valuation to provide lending guidance customized to your situation and your unique assets.
- We will work in coordination with your tax and investment advisors to help you avoid unnecessary trade-offs when raising capital for acquiring new assets.
- We can discuss ways to mitigate the risks associated with borrowing to invest.
Borrowing to invest◊ is not for everyone and suitability is paramount as it can add risk. Any investment strategy should be discussed with your investment and tax advisors and should take into account your long-term and personal circumstances.
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 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
The 25,000 Bonus Scene+TM Points Offer (the “Offer”) applies only to new Scotiabank Passport Visa Infinite credit card accounts (“Accounts”) that are opened by October 31, 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+TM 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+TM Point Offer Description and Conditions: To qualify for the 25,000 bonus Scene+TM 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+TM 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 October 31, 2022.
10,000 Annual Bonus Scene+TM Point Conditions: As a Scotiabank Passport Visa Infinite credit cardholder you can earn an annual Scene+TM point bonus starting at 10,000 Scene+TM 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+TM 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+TM 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+TM points are only awarded on purchases. Scene+TM 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+TM 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+TM points are not eligible for redemption.
Primary Cardholders with a valid Scotiabank Passport Visa Infinite Card account (the “Account”) have access to participating lounges within the Visa Airport Companion Program (“Program”), hosted and managed by DragonPass International Ltd. Cardholders must enroll for this benefit either through the Visa Airport Companion App (available to download for free) or on the Program Website using a valid Card on the Account. Upon enrollment, 6 complimentary lounge visits will be available for the Primary Cardholder per membership year; the complimentary visits can be used by any Cardholder for themselves and for their accompanying guests at participating lounges (however, Primary Cardholder must be present for each such use). Lounge visits are counted on a per person per visit basis (e.g. lounge access by a Cardholder and one accompanying guest will count as two (2) visits). All additional visits beyond complimentary visits are subject to a fee of $32 USD (subject to change) per person per visit. Applicable lounge access fees will be charged to the Card connected to the Cardholders’ Program membership (i.e. the Card enrolled in Program).
To view a full list of participating airport lounges, their facilities, opening times and restrictions Cardholders can visit the Program App and Website. To view the full Terms and Conditions for the Program, including DragonPass Terms of Use and Privacy Policy and Visa’s Privacy Policy that apply to the Program, visit the Visa Airport Companion Program App or Website.
The Program services and benefits are provided by DragonPass and applicable third party offer providers and neither Visa nor The Bank of Nova Scotia is responsible for the Program or any claims or damages arising from participation in the Program.
Unless the Program membership is suspended or cancelled, the Program membership and any included complimentary lounge visits (if applicable) will automatically renew annually on the anniversary date (based on date when the Cardholder enrolled for the Program). Program membership will be cancelled if your Scotiabank Passport Visa Infinite Card is cancelled. If your Scotiabank Passport Visa Infinite Card is renewed or replaced, remember to update your card details within the Visa Airport Companion Program (either on the App or on the Program Website).
Access upon presentation of a valid and enrolled Scotiabank Passport Visa Infinite Card, while available in most lounges within the Visa Airport Companion Program, is subject to availability.
Offer Description and Conditions: The 40,000 Bonus Scene+TM Points Offer (the “Offer”) applies only to new Scotiabank Gold American Express credit card accounts (“Accounts”) opened by October 31, 2022 and is subject to the below terms and conditions. We will waive the initial annual fee for the primary card issued before October 31, 2022 on the Account for the first year only. Offer may be changed, cancelled or extended without notice at any time and cannot be combined with any other offers.
40,000 Bonus Scene+TM Point Offer Description and Conditions: To be eligible for 20,000 bonus Scene+TM points (the “20,000 Point Bonus”), you must open a new Account by October 31, 2022 and have at least $1,000 in eligible purchases posted to your new Account in the first 3 months of the Account open date. To be eligible for 20,000 bonus Scene+TM points (the “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) of 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 or cash-like transactions), interest, fees or other charges.
The 20,000 Point Bonus will be credited to the primary cardholder’s Scene+TM 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 of Account open date, provided the Account is open and in good standing. The 20,000 Point Bonus will be credited to the primary cardholder’s Scene+TM 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.
First Year Annual Fee Waiver Offer Description and Conditions: We will waive the initial annual fee for the primary card issued before October 31, 2022 on the Account for the first year only.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal 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 and cash-like transactions).
All rates, fees, features and benefits are subject to change.
You will earn the accelerated Scene+TM points (5X or 3X as applicable) under the Scene+TM 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+TM 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+TM points are awarded for purchases charged to Account. Scene+TM points earn rate: The first accelerated earn rate is 5 Scene+TM 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+TM 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+TM 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+TM points. Scene+TM 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.