
Sign up & start saving!
Our monthly newsletter is launching soon with the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
If you’re looking to borrow a large sum of money and want freedom to choose your type of interest rate and loan term, Scotiabank may be an option to consider. Offering amounts up to $150,000, it’s possible to pay off your loan between one and 25 years.
While you’ll have to book an appointment and meet in-person to apply for a loan if you’re a new customer, existing customers can usually apply for loans online.
To qualify for a loan through Scotiabank, you must:
The process to apply for and borrow a loan from Scotiabank will vary depending if you’re a new or existing customer. Existing customers can typically apply for a personal loan over the phone, online by signing into online banking or via appointment at a Scotiabank branch. On the other hand, new customers have to book an appointment to visit a local branch in order to begin the loan process.
If you’re already a Scotiabank customer, applying online for a personal loan will be the quickest way to get your hands on your funds.
Once you have the loan, you can make repayments directly from your bank account and set up automatic payments if you wish.
Enjoy the following features and benefits with a Scotiabank personal loan:
There are no interest rates or fees listed online for Scotiabank personal loans. To find out about the rates that you may be eligible for, it’s best to contact Scotiabank by phone or visit a branch in-person and speak to a representative. Keep in mind your interest rate will be determined by a variety of different factors including your credit score, your current financial situation and the type of loan and interest rate you choose.
As an example, secured loans typically come with lower interest rates than unsecured loans, and variable interest rates can start out cheaper than a fixed-rate, but run the risk of rising throughout the term of your loan.
Scotiabank does not charge early repayment fees, which means you can payoff your loan before it’s due and avoid facing any additional charges.
If you’re interested in learning more about Scotiabank personal loans or you’d like to submit a loan application or make an appointment at your local Scotia branch, head to the Scotiabank website. Before applying for a personal loan, you will need to meet some eligibility criteria, which includes:
You’ll also need to gather additional information before applying, such as:
Once you’ve submitted your loan application, you will be given a pre-approval decision. Before signing and returning the loan contract, carefully review the terms and conditions before accepting an offer. Compare your other loan options to be sure you’re getting the most competitive loan offer you qualify for.
Looking for a SCENE credit card? Learn more about fees, benefits and rewards in this handy guide.
Access Scotiabank’s top-notch travel rewards program when you sign up for the Scotiabank Passport Visa Infinite Card.
Access Scotiabank’s top-notch travel rewards program when you sign up for the Scotiabank Platinum American Express Card.
Get solid rewards for everyday spending with the Scotia Momentum No-Fee Visa Card.
Access Scotiabank’s top-notch rewards program when you sign up for the Scotiabank More Rewards Visa Card.
Get solid rewards for everyday spending with the Scotia Momentum Visa Infinite Card.
Take advantage of a low interest rate and no annual fee with the Scotiabank Value No-Fee Visa Card.
Save on your next car purchase when you rack up points with the Scotiabank GM Visa Card.
Access Scotiabank’s top-notch movie rewards program when you sign up for the SCENE Visa Card.
Get a super low-interest rate for everyday spending with the Scotiabank Value Visa Card.