Support for our Personal Banking Customers
Last updated 16/06/20
"I needed to defer my loan payments due to financial constraints back in March and Scotiabank did everything for me. I didn't need to visit the branch at all, which was such a relief since I was very worried about contracting the virus." – Sharon J.P.
Financial Relief Options
Our Customer Assistance Program was designed to help if you were impacted by COVID-19. If you were able to continue or resume your regular payments, we encouraged you to do so to reduce your debt. Our initial payment deferral options have now come to an end.
As a reminder, while the deferral meant that you did not need to make monthly payments during the deferral period, interest was calculated as normal. Please note, the deferred interest is not being added to your loan balance i.e. there is no interest on interest.
The deferred interest amount and any insurance premium, if applicable (the "Deferred Amount") is due before your loan ends.
Mortgages and Real Estate Loans
If you requested and received a deferral on your Mortgage or Real Estate Loan payments, this would've ended 3 months after it was applied. For example, if a deferral was processed in April, 2020, it would've ended in June 2020. Automatic payment deductions resumed from your next due date in July 2020 - there was no need to contact us to reinstate payments.
Other Loans - No sign up was needed
Your loan payments were automatically deferred for 3 months. If your loan was up to date, your deferral ended during June 2020. Automatic payment deductions resumed from your due date in July 2020 - there was no need to contact us to reinstate payments.
If you continue to be financially impacted by the pandemic and are unable to resume your payments, please contact us at 62SCOTIA (627-2684) to discuss your options.
Our team is ready to provide you with further assistance such as combining your debt to give you more flexibility. Read the FAQ below.
Credit Card Relief
No sign up was needed.
Minimum payment requirements on Credit Cards were automatically waived for 3 months for all qualifying customers. This deferral period ended on June 30, 2020. Your minimum payment requirements resumed from July 1, 2020, with due dates depending on your billing cycle. There is no need to contact us, simply resume your payments.
For details on relief options that are still available, check out our FAQs below.
Scotia Caribbean App/ OnLine Banking
You can make credit card payments, and view your next payment date and payment amount for your loans, mortgages and credit cards on the Scotiabank Caribbean mobile banking app.
Here’s how you can repay the Deferred Amount:
If your loan ends before Dec 31, 2022, you’ll need to repay via lump sum on or before the end date of your loan.
For loans ending after Dec 31, 2022, here are your options:
Make a lump sum payment on or before Dec 30th, 2020.
A temporary adjustment will be made to your monthly payment amount, from Jan 2021 to Dec 2022.
This means that your regular monthly payment amount will be increased to include the Deferred Amount, which will be divided evenly over these 24 months. This will help you pay off the Deferred Amount in smaller sums, versus paying the lump sum amount. There is no increase to your total loan amount; only your monthly payment will change.
If your loan ends before December 31, 2022, feel free to contact 62SCOTIA (627‑2684) for details.
If your loan ends after December 31, 2022, by the end of November, you will receive an email stating the amount that’s due.
Should you continue to be impacted by the pandemic and have any questions about your loan, please call 62SCOTIA (627-2684)
Your safety is our top priority. Please continue to Bank@Home and stay safe.
Frequently Asked Questions
I have questions about financial relief measures because of COVID-19.
I have questions about my credit card payments and payment deferrals
I have questions about how and where I should bank right now.
Terms & Conditions
By submitting a request to defer your regular ScotiaPlan, Auto Loans, mortgage or real estate
secured loan payments you agree to the following Terms & Conditions.