Scotiabank Personal Loan – How to Apply


Personal loans are a great way to fund new projects or even pay down current debt. However, you have to have the right one for you and your financial needs. 

You should look at multiple lending institutions and banks to research their offerings. One of the banks you may run across is Scotiabank

It offers a personal loan that is flexible and that has many features that you might be looking for. We pulled together everything you need to know about the personal loan from Scotiabank to help you in your decision-making process.



The Scotiabank personal loan comes with many features that set it apart from other loans. No matter what you are looking to spend the money on, you are essentially free to use this loan as you please. 

You can choose between a fixed or variable rate loan. The bank offers many options as far as loan terms are concerned, as they offer loans that can be repaid in anywhere from one to five years. 


You can also build your payment schedule to fit your needs. Furthermore, there is even the ability to postpone one payment for a year if needed.

On top of that, you can manage your loan online anywhere you find yourself. This allows you to check on the balance, check your payment, and change your payment schedule.


Once you have been approved for the Scotiabank personal loan, you will be able to take advantage of the following benefits.

  • The ability to choose between fixed and variable rates, as well as secured and unsecured loans
  • You can set up auto-pay from your Scotiabank account
  • No additional fees or early repayment
  • Wide range of borrowing amounts ($5,000 – $150,000)
  • Long period to prepay (1-5 years with some special secured loans giving the loanee up to 25 years to repay their loan)

How to Apply

The first step is to make sure that you meet the criteria in the next section. Once that is done, you will want to gather all your personal and financial documents that you may need for the application process. These include the following.

  • Contact and personal information
  • Social insurance number
  • How much you want to borrow and the purpose
  • Net income for the month
  • Employment history
  • Banking details if you are a Scotiabank customer

The process for applying will be different for a new customer and an existing one. If you are a new customer, the bank requires you to apply in person to begin the process. 

However, if you are already a customer, you can apply online, in person, or over the phone. A current customer will have a quicker response if they opt for the online application process

They will need to fill out the form and then wait for the decision. If you are ready to begin your application process, follow this link to the bank application process.

Who is Eligible?

To be eligible for this personal loan, an applicant must meet the following criteria.

  • Be 18+ years of age
  • Be a resident of Canada
  • Meet minimum income requirements
  • Meet minimum credit score requirements

Fees and Interest

On the Scotiabank website, there are no rates or fees listed for personal loans. In order to get there, you will have to apply or contact the bank to find them out. 

This is primarily because everyone’s rates and fees will vary depending on credit history and income. There are no prepayment fees for paying off your loan early, though, and that is a nice benefit. 

Bank Contact Info

If you need to contact the bank, here is all the information you might need.

Phone: 1-800-472-6842

Twitter: @ScotiabanHelps

Mail: P.O. Box 4100, Station A, Toronto, ON M5H1H1



The Scotiabank personal loan is a versatile and flexible option for any projects or needs you may have. Applying for it is easy and fast, even if you are not a current customer. The information we have laid out hopefully has been of some help in your decision-making process. 

Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.