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How to Apply for Scotia Bank Loan | Canada Bank

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Scotiabank Jamaica Account

Looking for soft loans to settle urgent debts, take care of health related issues, Want to save money, by consolidating higher interest balances, attain to immediate exigencies? Scotia banks has open its doors for Loans for you to borrow money.

Here is why you should Go for Scotia Bank Loan

  • Pay off your loan at any time without prepayment penalties
  • Pick a weekly, bi-weekly, or monthly payment plan
  • Postpone one payment each year that you have the loan

Scotia Loan Option

Here are the two (2) Scotia Bank loan option available for you. Choose option that best describe your needs.

  1. Fixed Plan Loan:

This type of loan option is good for those who Prefer to borrow a specific amount with structured payments and a fixed interest rate to pay off your debt within a set time period. In addition, this option is best for businesses who want to save money, by consolidating higher interest balances; and those who want to lock in an interest rate that will not change over the term of your loan.

Don’t collect this loan option if you;

  • Require more flexible repayment options
  • Prefer a variable interest rate that can change when Scotiabank Prime changes
  • You want a payment method for everyday purchases with an interestfree grace period on purchases
  1. Variable Plan Loan

In the other hand, this type of loan is best for;

  • Prefer to borrow a specific amount with structured payments and a variable interest rate to pay off your debt within a set time period
  • Want to save money, by consolidating higher interest balances

How to Apply for Scotia Bank Loan

To apply for Scotia Bank Loan, review all loan options, book appointment with advisor.

T book appointment, visit the Scotia Bank Book Appointment Page here

Documents Required to Apply for Scotia Plan Loan

  • Passport
  • Driver’s license
  • Identification card
  • Salary slips/letters
  • Employment letter
  • Recent CRA My Account Assessment
  • Recent NOA and corresponding T1 General 4-page summary (for self-employed, commissioned sales, or other non-employment income)

Scotia Bank ABA number: 026002532

Institution number: 002

Scotia Bank SWIFT code: NOSCCATT

Loans and Lines of Credit​​​​​​​ - Scotiabank

Scotia Bank Interest Rate

Variable Rate Mortgages

Effective October 20, 2022

Posted Rate
Scotia Ultimate Variable Rate Mortgage – 3 Year Closed Term

 

6.350%1
Scotia Flex Value Mortgage-Closed 5 Year Term

 

5.650%2
Scotia Flex Value Mortgage-Open 5 Year Term

 

8.750%3

Closed Term Fixed Rate Mortgages

TermRate
1 year6.090%
2 years6.190%
3 years6.040%
4 years6.040%
5 years6.140%
7 years6.600%
10 years7.000%

Short Term Fixed Rate Mortgages

TermRate
Open Mortgage – 6 month8.250%
Open Mortgage – 1 year8.250%
Flexible/Closed Mortgage – 6 month6.250%

 

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