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ScotiaLine® Personal Line of Credit (STEP)
Right for you if:
- You have a Scotia Total Equity® Plan
- You want access to money whenever and wherever you need it
Overview
- Borrow up to 65% of the value of your home to finance goals you have like home renovations, a vacation or a car purchase, all with a one-time STEP application†
- A flexible personal line of credit:
- With limits up to $1,500,000; or
- With the convenience of a VISA* access card for limits up to $500,000
- Very competitive secured rates1
- Flexible repayment terms – Minimum payments could be as low as interest only2
- No penalty to pay off your entire balance
Plus
- Regular cheques are free. Personalized cheques are available for purchase.³
- Itemized statements.
- Optional Scotia Line of Credit Protection insurance can mean providing the financial support that you and your family may need during a difficult time.
Details & Fees
- Minimum Credit Limit: $10,000
For current rates and information on fees and interest, call 1-888-882-8958.
For ScotiaLine® Personal Line of Credit customers with VISA* access cards:
- No cash advance fee when using your VISA* access card at any Scotiabank ABM
ScotiaLine® Personal Line of Credit Fees:
| Transaction Fees | |
|---|---|
| Dishonoured payment fee |
$48.00 |
| Non-sufficient funds fee |
$48.00 |
| Replacement sales draft, cash advance draft or monthly statement fee |
$5.00 |
| Overlimit fee |
$29.00 |
| Inactive fee |
$0.00 |
| Foreign currency conversion |
2.5% |
| Balance transfer fee |
1% of the balance transfer amount |
| Cash advance counter fee (any financial institution in Canada) |
$3.50 |
| Cash advance counter fee (financial institutions outside of Canada) |
$7.50 |
| ABM Fees | |
|---|---|
| Cash advance ABM fee (any Scotiabank ABM in Canada) |
$0.00 |
| Cash advance ABM fee (non-Scotiabank ABMs in Canada) |
$3.50 |
| Cash advance ABM fee (ABMs outside of Canada) |
$7.50 |
Cheques & Cash Advances
Use ScotiaLine® Cheques to:
- Transfer balances from gas and retail cards that charge higher interest rates.
- Pay for a large purchase, insurance premiums, medical bills, or utility bills.
Obtain cash advances at:
- Over 1 million ABMs around the world displaying the VISA/PLUS symbols.
- Over 55,000 ABMs displaying the INTERAC symbol in Canada, including Scotiabank ABMs.
- Or, access your account with your ScotiaCard when you link the two together.
AVIS Car Rentals
Enjoy special discounts on car rentals of up to 20% at participating AVIS car rental locations worldwide. Simply present your VISA* access card at any participating location or visit www.AVIS.com or call 1-800-TRY-AVIS (879-2847) and quote the rebate number C030400
NOTE:
See ScotiaLine® Personal Line of Credit for line of credit not under Scotia Total Equity® Plan
By phone
Takes just a few minutes
Mon-Fri (9am-8pm)
In person
Make an appointment
at your local branch
Resources
Subject to credit approval & security provided. The interest rate you pay on a ScotiaLine® Personal Line of Credit will vary with Scotiabank Prime. Scotiabank Prime is the prime lending rate of The Bank of Nova Scotia as published from time to time.
Interest-only minimum payment will be the greater of the interest portion only of the outstanding balance on your statement, or $50, subject to your minimum payment being no more than the outstanding balance on your statement. In addition, amounts showing on your statement as OVERDUE or OVERLIMIT must be paid immediately and will be added to the minimum payment.
Some conditions may apply.
VISA Int./Lic. user The Bank of Nova Scotia