Loans and Mortgages

Rates and fees for loans and mortgages.

Last updated: August 2024

Scotia Plan Loan Rates & Fees

Discount Fee for Scotia Plan Loans
Loans less than $33,000 - 1.75%
Loans over $33,000 - 1.75% 
Min $625.00
Min $1,250.00
Early Settlement of Loans other than Real Estate 
2 months interest 
Min $250.00
Late Fees
Late fee = 3.00% of arrears 
Min $100 per instance (5 days or more)
Refinance Charge
 Refinance Fee: $500 + 1.75% application fee on additional advance
Credit Report Fee 
 $175.00
Settlement Letter 
 $100.00
Extension Fee (applicable for loan deferrals)
 $100 + APR rate on net balance

One time Pre-Approved/Pre-Qualified Processing Fee - in lieu of Application Fee

>=US$5,000: 1.5% of the loan amount 

<US$5,000: 2.5% of the loan amount 
Initial Fee for Auto Loan Bill of Sale (Gov't fee) $300.00
Renewal Fee for Auto Loan Bill of Sale (Gov't fee) $300.00 (required every 3 years)

Interest Rates – Personal Loan Accounts:
Interest on personal loan accounts other than those secured by real estate are fixed for the duration of the loan. The repayment of interest is included in the monthly installment. For loans secured by real estate, the bank may alter the interest rate within 90 days notice. For loans repaid in advance, the customer is entitled to a rebate of interest. 

All charges are inclusive of Financial Services Tax 15% unless stated otherwise. Please note that while the Bank makes every effort to keep charges to a minimum, they are subject to review.

Rates and fees are subject to intermittent review. Changes to terms and conditions, interest rates, fees and charges may be highlighted as follows:

  • Notice on website
  • Email 

The information displayed may not include all retail fees and services charges, only those applicable to standard banking transactions.

You may get all information about the fees and service charges listed above or those not covered by calling our Contact Centre at 62-SCOTIA (627-2684) or visiting your nearest Branch.