Scotia SelectPay^™

Enjoy the flexibility of buying now and paying little by little.
Turn eligible credit card purchasesof $100 or more¹ into monthly installment payments over a fixed period of time with Scotia SelectPay² during checkout or after purchase.

Here’s what you pay

Let’s say you bought a $1,200 laptop and converted it into a 3-month Scotia SelectPay installment plan with a low installment interest rate of 5.99% and no installment plan fee.

Your payments and interest for your Scotia SelectPay plan would be as follows:⁴

Month	Monthly Installment Plan Payment ^{(Principal Amount + Accrued Interest)}	Interest
Month 1	$404.00	$0.00
Month 2	$404.00	$8.27
Month 3	$403.01	$2.74
Total	$1,211.01	$11.01

Interest savings

Here’s how much you could save on interest on that same purchase for 3 months versus if you paid it off at a typical credit card annual interest rate of 20.99%:⁴

	Interest Rate	Interest Payments over 3 Months
Scotia SelectPay 3-Month Installment Plan Interest Rate	5.99%	$11.01
Credit Card Annual Interest Rate on Purchases	20.99%	$38.47
Total Savings		$27.46

For illustrative purposes only. Certain assumptions and exclusions apply. See below⁴ for more details.

Paying with Scotia SelectPay is easy

Online during checkout

Online during checkout (for SelectPay installment plans) with a participating merchant.

Click checkout and input your eligible Scotiabank Visa* Card details.
Choose a 3, 6, or 12-month plan³ from the list, 'Eligible for installments'. Installment plans are enabled by Visa*.
Review and agree to the SelectPay Plan Terms and Conditions that apply to your online during checkout SelectPay installment plan.
Your receipt will include your installment plan details.
Sign into the Scotia mobile app or Scotia online banking to see your plan status after your transaction in posted (takes approximately 3-5 business days).

Or watch the video to learn more

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Limited Time Offer

Choose from flexible Scotia SelectPay^TM installment plans on eligible Home Hardware purchases made with your eligible Scotiabank Visa^*credit card, of up to 24 months with no interest and no fees on plans.^†

Advice+ features

Make the most of your money with the right advice

Buy Now, Pay Later plans (BNPL) and Scotia SelectPay Installment plans

Learn how installment plans on credit cards, like those available from Scotiabank through its SelectPay^TM plans – can help to provide a flexible way to pay for planned and unplanned purchases (during Checkout and after Purchase).

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4 tips to help organize your finances and prepare for the future

How you can better manage your cashflow to get ready for your goals.

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What is a credit card installment plan and how can I make the most of it?

A credit card installment plan is a feature that can help you to pay for purchases on your credit card over a fixed period.

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Scotia SelectPay^TM FAQs

The Scotia SelectPay™ Installment Plan is a Scotiabank credit card feature that allows you to convert your eligible credit card purchases of $100 (CDN$ or more)¹ into monthly installment payments over a fixed period of time with a low interest rate and no installment plan fees.²

Purchases made on your eligible Scotiabank credit card can be converted into a Scotia SelectPay installment plan during checkout (in-store or online) at a participating merchant or after purchase using the Scotia mobile app or Scotia online banking.

After you have activated your new Scotiabank Credit Card that is eligible for Scotia SelectPay plans, it will take approximately 3 to 5 business days for the SelectPay Plan feature to be added to your card and for purchases made on your card to be eligible for Scotia SelectPay plans.

It is recommended to check your eligible Scotiabank Visa Credit Card account through your Scotia online banking or Scotia mobile app to ensure that the SelectPay feature is available to you before making any purchases that you may want to enroll into installment plan(s).

(After Purchase - Scotia mobile app or Scotia online banking):

To set up an After Purchase Scotia SelectPay plan:

Select an eligible Scotiabank Visa credit card and tap the Scotia SelectPay icon (on Scotia mobile app) or click the Additional services tab, followed by the Scotia SelectPay (on Scotia online banking)
Click on the Eligible purchases tab
Select an eligible purchase you’d like to convert into an installment plan
Pick a plan (for example, choose 3, 6, or 12 months and review the fee that applies. Note that the term lengths offered may vary by merchant)
Read and agree to the SelectPay - Installment Plan Terms and Conditions; - once you’ve selected an installment plan, you will need to consent to and agree to the Terms and Conditions that apply to SelectPay Installment Plans before the eligible purchase is converted into an installment plan
Slide or click to enroll

Allow 1 to 3 business days for your installment plan to get posted to your account.

Note: The SelectPay Plan feature requires the current version of the Scotia mobile app. You can update the app from the App Store or Google Play or by turning on automatic updates for your device.

a. During Checkout - During an in-store or online checkout with participating merchants

When using your eligible Scotiabank Visa credit card to pay for your purchase with a participating merchant, you can convert your eligible purchase into monthly installment payments by choosing a Scotia SelectPay installment plan from the available options (currently 3, 6, or 12-month plan)
Review and agree to the SelectPay - Installment Plan Terms and Conditions. By accepting the Terms and Conditions for a SelectPay Installment Plan you will provide your consent to proceed with the eligible purchase being converted into an installment plan on your eligible Scotiabank credit card.
Your receipt will include your installment plan details (please also check your statement and eligible Scotiabank credit card account for more details).
Once your transaction is posted to your eligible Scotiabank credit card account (may take 3 to 5 business days after you made your purchase), you can sign into the Scotia mobile app or Scotia online banking to see your plan status and more details.

No, a Scotia SelectPay Installment Plan is a new feature available on eligible Scotiabank credit card accounts.

For the Scotia Home Hardware PRO Visa Business credit card, currently only eligible for “After Purchase” SelectPay Plans. Card not eligible for “During Checkout” SelectPay Plans.

The Scotia SelectPay Installment Plans are not currently available for Scotiabank American Express or Scotiabank Mastercard credit cards.

Please refer to our FAQs about qualifying for installment plans to learn more about eligibility.

An installment plan won’t impact your credit score. When you enroll in an installment plan, Scotiabank will not perform an additional credit check.

Installment plans are based on the original purchase being posted to your eligible Scotiabank credit card account. The amount of that purchase has already reduced your available credit.

Enrolling the eligible purchase into an installment plan does not change your available credit.

However, the monthly installment fee that applies to your installment plan will reduce your available credit each month by the amount of that monthly fee.

Here’s an example of how we calculate your monthly payments for your Scotia SelectPay plan:

Let's say you bought a $1,200 laptop and converted it into a 3-month Scotia SelectPay installment plan with a low interest rate of 5.99% and no installment plan fee.

Your payments and interest will be as follows:⁴

Month	Monthly Installment Plan Payment⁴ ^{(Principal Amount + Accrued Interest)}	Interest⁴
Month 1	$404.00	$0.00
Month 2	$404.00	$8.27
Month 3	$403.01	$2.74
Total	$1,211.01	$11.01

For illustrative purposes only. Certain assumptions and exclusions apply. See below for more details.⁴

You can use installment plans for purchases of $100 CAD or more (or another amount we may designate from time to time) and only for new eligible purchases that you choose to convert to an installment plan during the same statement period in which it was posted to your eligible account and before your eligible account’s next statement date.

A purchase will not be eligible for an installment plan if it has not been enrolled in the same statement period in which it appeared.

Another example where a purchase may not be eligible for a SelectPay installment plan is if your credit card balance is $0 and you make a purchase of $800 that is posted to your Account and then you make a payment of $200 to your Account. This brings your Account balance to $600. That $800 purchase will no longer appear as an eligible transaction for a installment plan as it doesn’t meet the eligibility criteria. This is because your Account balance is $600 and not equal to or greater to the $800 purchase amount.

Only purchases are eligible for installment plans. You cannot convert a balance to an installment plan that’s not a purchase, such as a balance transfer or a cash advance.

There is no maximum purchase amount for which you’re allowed to enroll in an installment plan however, you cannot exceed your credit limit.

The following Scotiabank Visa* credit cards are eligible:

Scotia Momentum® Visa Infinite* card
Scotiabank Passport ® Visa Infinite* card
Scotiabank® Scene+™ Visa* card
Scotia Momentum® Visa* card
Scotia Momentum® No-Fee Visa* card
Scotiabank Value® Visa* card
Scotia® Home Hardware PRO Visa* Business card

Convert your eligible visa credit card purchases at Home Hardware into fixed monthly installments. Purchases of $250 CAD or more can be converted into payment options for up to 24 months with no interest or fees.

Eligible Scotiabank Visa Cardholders can set up and manage Scotia SelectPay installment plans on their Home Hardware purchases after their purchase on their Scotiabank app or Scotia online banking.

For eligible Scotiabank credit card accounts opened on or after July 30, 2024 and for Scotiabank Scene+ Visa Card and Scotia® Home Hardware PRO Visa* Business cards opened on or after January 29, 2024 the following applies:

If we do not receive payment of the entire amount of your then minimum monthly installment payment (the Current Installment Payment shown on your statement that month) by the payment due date shown on that statement, any unpaid portion of it remain on your account and will accrue interest at the annual interest rate that applies to Purchases on your account beginning from the first day of the statement period after the missed payment until that amount is paid in full. You will still owe us payment of any further minimum monthly installment payment due after that missed payment.

If you have a SelectPay Plan and we do not receive payment of the Total Minimum Payment on your statement (this includes your Current Installment Payment shown on your statement that month) two (2) consecutive times, we have the right to cancel any of your SelectPay Plan(s).

See your Scotia SelectPay terms and conditions under the sections “Missing a Current Installment Payment” and “Missing your Minimum Payments” for more details.

For all other eligible Scotiabank credit card accounts opened before January 29, 2024:

If we don’t receive payment of your monthly minimum current installment payment (the Current Installment Payment shown on your statement) each month by the payment due date on your statement, your installment plan will automatically be cancelled.

The outstanding remaining balance on your installment plan will be re-applied to your regular balance on our account. You will still be required to pay the remaining outstanding balance.

If that happens, the remaining outstanding installment balance under your installment plan will incur interest at the annual interest rate that applies to purchases on your account until it is paid in full.

For all accounts:

To avoid any cancellation in error or missed payments when you have a SelectPay Plan please you should ensure we receive payment of the entire amount of your “Current Installment Payment” (by paying the “Total Minimum Payment” on your statement which includes that Current Installment Payment amount) each month if you have a SelectPay Plan on your account, even if your New Balance on your statement is less than that Total Minimum Payment on your statement in any month. This may happen if you have credit vouchers/returns on your account. Please remember that credit vouchers/returns do not count as payments to your account.

For example, if your New balance on your statement this month is $500 (due to credits/vouchers) but your Current Installment Payment that month is $600 and that is also your Total Minimum Payment that month ($600) you should ensure we receive payment of the $600 that month not $500.

This means that:

If you have set up a pre-authorized debit payment (PAD) to pay your “full balance” (the “New balance” on your statement) of your Scotiabank credit card account each month, you should check and ensure we still receive payment of your Total Minimum Payment even if your New balance is less than that amount. You may have to make an additional payment to us to cover the difference of the Total Minimum Payment and New Balance on your statement (such as, the example above, with an additional $100)
If you are making manual payments each month, ensure we receive payment of your Total Minimum Payment even if your New balance is less than that amount (for the same reasons as set out above). In the example above, $600 to be paid not only $500.

This will ensure that your plans are not inadvertently cancelled, or plan amounts do not incur interest at a higher interest rate than may apply to your plan.

If your Scotiabank credit card earns rewards on purchases, you will earn rewards on the amount of the original purchase that you select to convert to an installment plan, in the same way that you do any other purchase made on your account (for example, points or cash back).

Rewards are not earned on cash advances (including balance transfers, cash-like transactions, or Scotia credit card cheques). Other exclusions apply depending upon your rewards program.

See your rewards program terms and conditions for more information on how you earn rewards on your Scotiabank credit card account.

Visit our Help Centre to learn more

Start using Scotia SelectPay^TM

3 ways to get started

During checkout (in-store or online) with Scotia SelectPay Installment Plan

During checkout you can choose a Scotia SelectPay installment plan for qualifying purchases at participating merchants. Installment plans are enabled by Visa*.

Get started with the Scotia mobile app

1. Download the Scotia mobile app or update it to the latest version

Show more information

Scotia online banking

Start banking now from your computer, smartphone, or tablet.

1. Sign into Scotia online

Show more information

View legal footnotes

®

Registered trademarks of The Bank of Nova Scotia

™

Trademark of The Bank of Nova Scotia

*

Visa Int./Licensed User. trademarks

†

Offer valid until Dec 31, 2024. Scotia SelectPay plans available on eligible Home Hardware purchases made on your eligible Scotiabank credit card of at least $250 in Canadian dollars (including taxes). Applicable on After Purchase only. Other conditions apply.

1

To be eligible, the purchase must be for at least $100 in Canadian dollars (including taxes), or such other amount as we may advise you of from time to time (the “Eligible Purchase”).

2

Scotia SelectPay is an installment plan feature (the “Plan”, “Installment Plan” or “SelectPay”) made available on eligible Scotiabank credit card accounts (the “Eligible Account(s)”) that allows primary cardholders to convert an eligible credit card purchase of at least $100 in Canadian dollars (including taxes) posted to the Eligible Account to an Installment Plan with monthly payments over a fixed payment period (the “Installment Payment Period”) with a fixed interest rate (the "Installment Rate") during the Installment Payment Period that applies to that Plan.

The total amount of your Installment Plan will be divided over the months you selected in your Installment Payment Period in monthly installment payments of equal amounts over a fixed period, except for the last installment payment, which may be higher or lower than the other installment payments, due to rounding.

No installment plan fee (the “Installment Plan Fee”) applies to these Installment Plans.

The Installment Rate and installment Payment Period may vary per Plan and will be disclosed to you at the time you select the Plan.

All Installment Rates and applicable Installment Fees and other applicable terms of Installment Plans are subject to change. Installment Plan offers cannot be combined with any other offer.

The Installment Rate that applies to your Plan will apply during the Installment Payment Period to the amount of your Eligible Purchase converted to a Plan on the date the Plan is processed (the conversion date) to your Account. Prior to that conversion date, the annual interest rate on Purchases that applies to your Account will apply to that Eligible Purchase from the transaction date.

If we do not receive payment of the full balance (the “New balance”) by the payment due date that appears on your statement in the month in which the Eligible Purchase was posted to your Eligible Account you will lose the benefit of your interest-free grace period on that Eligible Purchase and any applicable interest during that time will then apply at the annual interest rate that applies to Purchases on your Eligible Account from the transaction date until the conversion date.

You may lose the benefit of the Installment Rate and your Plan could be cancelled if we do not receive payment of your monthly minimum(s) payment applicable to your Plan (the “Current Installment Payment”) by your payment due date while your Plan is in effect (as set out in your full SelectPay Installment Plan terms and conditions - see below for which terms and conditions apply to your Eligible Account). If that occurs, any remaining outstanding balance owing on your Plan at the time of cancellation will be subject to the then current annual interest rate that applies to Purchases on your Eligible Account

In the case of Eligible Accounts that are subject to the SelectPay Terms and Conditions after January 29, 2024, if we do not receive payment of the entire amount of your Current Installment Payment by the payment due date shown on that statement, any unpaid portion of that Current Installment Payment will accrue interest at the annual interest rate that then applies to Purchases on your Eligible Account beginning from the first day of the statement period after the missed Current Installment Payment until that amount is paid in full. You will still owe us payment of any Current installment Payment(s) due after that missed payment.

Any unpaid remaining balance on your Installment Plan (the “Remaining Installment Amount Balance”) after the Plan ends or is cancelled by you or us will be applied to the outstanding balance on your Eligible Account. Your Remaining Installment Amount Balance is again eligible for an interest-free grace period. You will not pay interest on that Remaining Installment Amount Balance if we receive payment of the full balance (the “New balance”) that appears on your statement in the month in which your Remaining Installment Amount Balance was applied to the outstanding balance on your Eligible Account. If you lose your interest-free grace period on the Remaining Installment Amount Balance, any applicable interest will then apply at the annual interest rate that applies to Purchases on your Eligible Account on that amount from the date of expiration or cancellation of the Installment Plan until the amount is paid in full.

Your Eligibility to convert an Eligible Purchase to an Installment Plan and the terms made available to you are subject to Scotiabank’s assessment at the time you request to convert your Eligible Purchase to a Plan. SelectPay is only available through the Scotia mobile banking app and Scotia online to primary cardholders on an Eligible Account.

Eligible Purchases that we identify to you as eligible for a SelectPay Plan (After Purchase Plans) must be converted to a Plan through our Scotiabank Online or Scotiabank mobile banking within the time period as described in your SelectPay plan terms and conditions otherwise those Eligible Purchases may no longer be eligible for a Plan.

See the full Terms and Conditions for eligible Scotiabank Credit cards, eligible purchases and additional SelectPay terms and conditions, which are subject to change.

3

Other term durations may be available to you and if so, will be disclosed to you in our offer to you when you select your plan.

4

These examples and calculations are approximate and for illustrative purposes only. Interest calculation and plan payment amounts are based on a 21-day grace period in the first month with the eligible purchase amount of $1,200 accruing interest at an installment plan interest rate of 5.99% versus 20.99% (as applicable) over a period of 3 months. The installment plan example does not include the interest that may apply between the transaction date of the purchase and the date your purchase is converted to a Scotia SelectPay plan. Actual plan payment amounts, interest charges and any interest savings will depend on various factors including the outstanding balance at the end of the installment plan period, and the amounts, timing and application of transactions and payments, and any applicable grace periods on your Eligible Account. Interest rate comparison effective as of date of publication and is subject to change.

Scotia SelectPay^™

Here’s what you pay

Interest savings