Credit Card Rates & Fees

Rates and fees for Scotiabank Credit Cards (Visa & Mastercard)

Your Scotiabank Mastercard® and Visa® credit cards are subject to certain rates and fees. Information on those rates and fees, which are subject to change, is set out below. All fees quoted are listed in TT Dollars, unless otherwise indicated. The capitalized terms used in this Schedule have the same meanings as are attributed to them in the Scotiabank Credit Card Cardholder Agreement ("Agreement"). This Schedule forms part of that Agreement.

Mastercard

Mastercard Scotiabank Mastercard®
Scotiabank Gold Mastercard®
Scotiabank MAGNA Mastercard® 
Scotiabank Mastercard® Business Card 
Scotiabank AERO™ Business Executive Mastercard®
ScotiaLine 
ScotiaLine Gold
Annual Interest Rate (Financing Charges) - on Purchases & Balance Transfers
26.79%-27.99% 
26.79%-27.99% 
26.79%-27.99% 
25.20%
25.20% 
19.25% 
12.50% 
Effective Annual Interest Rate (EAIR) 
30.34%-31.88% 
30.34%-31.88%
30.34%-31.88%
28.32%
28.32%
21.04% 
13.24% 
Annual Membership Fee 
$165.00 
$300.00 
$225.00 
$200.00
$625.00 
$400.00 
$600.00  
Supplementary Card Fee 
No Charge
 No Charge 
$100.00 
$100.00
$100.00 
$150.00 
No Charge
Late Payment Fee 
$100.00 
$100.00 
$100.00 
$100.00 
$100.00
$100.00
$100.00
Over Limit Charge (Flat Charge Per Each Overrun) 
$100.00 
$100.00 
$100.00 
$100.00 
$100.00 
$100.00 
$100.00  
Cash Advance Fee ATM** 
3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00 
No Charge 
No Charge
Cash Advance Fee in Branch**
3.00% of Amount Min $50.00
 3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00
 3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00 
No Charge 
No Charge
Dishonoured / Returned Cheques
 No Charge 
No Charge 
No Charge 
No Charge 
No Charge 
$50.00 
$50.00
NSF Cheque Charge 
$50.00 
$50.00 
$50.00 
$50.00 
$50.00
$50.00 
$50.00  
Retrieval of Items 
$60.00 
$60.00 
$60.00 
$60.00 
$60.00 
$60.00
$60.00  
Replacement / Additional Statement 
$30.00 
$30.00 
$30.00 
$30.00 
$30.00
$30.00 
$30.00  
Replacement Sales Draft 
$60.00
$60.00 
$60.00
$60.00
$60.00 
$60.00 
$60.00  
Replacement Damaged / Lost / Stolen Card 
$100.00
$100.00 
$100.00 
$100.00 
$100.00 
Not Applicable
$75.00 
Minimum Payment
 3.00% Min $25.00 
3.00% Min $25.00 
3.00% Min $25.00 
3.00% Min $25.00 
3.00% Min $25.00
 2.00 - 3.00%, Min $300
2.00 - 3.00%, Min $300  
ScotiaLine Gold Cheque Stop Payment Fee
          $35.00 
$35.00  

Optional Scotiabank Mastercard®/Visa® Credit Life Protection‡ provides up to $85,000 in coverage with premiums based on the outstanding balance on your previous month’s Scotiabank Mastercard®/Visa® account. No premium is charged if your previous month’s statement was zero. Life Protection: The cost for single Life Protection is $0.29 a month for every $100 of outstanding balance. Life and Critical Illness Protection: The cost for single Life and Critical Illness Protection is $0.53 a month for every $100 of outstanding balance.

VISA

VISA Scotiabank Visa® Classic
Scotiabank AERO™ Platinum Visa®
Annual Interest Rate (Financing Charges) - on Purchases & Balance Transfers 
26.79%-27.99%
26.79%-27.99% 
Effective Annual Interest Rate (EAIR)
30.34%-31.88%
30.34%-31.88% 
Annual Membership Fee 
$165.00 
$625.00
Supplementary Card Fee 
 No Charge 
No Charge 
Late Payment Fee 
$100.00
$100.00
Over Limit Charge (Flat Charge Per Each Overrun) 
$100.00
$100.00
Cash Advance Fee ATM** 
3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00 
Cash Advance Fee in Branch**
3.00% of Amount Min $50.00 
 3.00% of Amount Min $50.00 
Dishonoured / Returned Cheques 
 No Charge 
No Charge 
NSF Cheque Charge
$50.00 
$50.00
Retrieval of Items
$60.00 
$60.00 
Replacement / Additional Statement
$30.00 
$30.00 
Replacement Sales Draft 
$60.00
$60.00
Replacement Damaged / Lost / Stolen Card 
$75.00 
$75.00 
Minimum Payment
3.00% Min $25.00 
3.00% Min $25.00 

Additional terms applicable to all Scotiabank credit card products

Grace Period: Purchases and Cash Advances

You will benefit from an interest free period of at least 21 days for new purchases and fees, if you pay your statement balance in full by the payment due date shown on your statement. If you do not pay your statement balance in full by the payment due date, you must then pay the interest on all your purchases and fees shown on that month’s statement from the transaction date until we receive your payment for the total amount you owe. There is no interest free period for cash advances. Interest is charged from the day the cash advance is made until we receive your payment for the total amount you owe.

Annual Interest Rate 

The applicable interest rate is established upon approval of your account. You can find your interest rate printed on the materials accompanying your credit card. 

Annual Fees

Annual fees are charged on the first day of the month following your account opening (whether or not the card is activated) and annually thereafter on the first day of the same month. 

Maximum Annual Interest Rate

If you do not pay at least your minimum payment by the payment due date, we may, at our discretion, increase the interest rate applicable to all new and existing balances up to 27.99%. You will continue to pay the higher rate of interest, until such time as you have paid the minimum monthly payment by the payment due date for six consecutive months. Your interest rate for cash advances will always be 2.5% - 3.0% higher than the current interest rate on your purchases.

Foreign Currency Transactions 

Foreign currency transactions (including both purchases and cash advances) and credits (returns) to your credit card account will be converted to the currency of the credit card at the foreign exchange rate equivalent to the rate determined on our behalf by Mastercard International Incorporated, plus a percentage mark-up may be determined by the Bank from time to time, on the date the transaction is debited or credited to the credit card account. The exchange rate at the date of conversion may be different from the exchange rate in effect on the date the transaction was made. 

Calculating Balance for Purchase and Cash Advances

Two-cycle average daily balance, including new purchases and cash advances.

Minimum Charge for Financing 

No minimum charge for financing.

Rates and fees are in effect as of January 2, 2020 and are subject to change at any time. ** Cash Advance Fees are 3.0% of the advanced amount (ATM and Branches) (note respective Minimum Payments) plus applicable interest charges. ‡ Where available. ® Registered trademarks of The Bank of Nova Scotia, used under licence. Trademarks used under authorisation and control of The Bank of Nova Scotia. ™ Trademark of The Bank of Nova Scotia, used under licence. ® Visa is a registered trademark of Visa International Inc. ® Mastercard is a registered service mark of Mastercard International Incorporated.