Applicants who are interested in getting a Scotiabank Personal Loan will be offered loans that range up to $150,000. This allows customers to finance their expenses in any way they choose. Interested users are advised to note that this offer is subject to credit approval, loan term, principal amount, and security provided.
Apart from the high loan limit, users can take up to 5 years to pay their loan back as well as customize payments to suit their needs. This allows customers to pick their preferred repayment terms from a weekly, bi-weekly, or monthly payment plan. Under this offering, users can also choose how much they pay, how often, and the days they wish to make a payment. However, individuals availing this should note that real estate secured loans availed under a Scotiabank Personal Loan are excluded.
Moreover, applicants can get the chance to get fixed or variable interest rates under the Scotiabank Personal Loan. However, only those who opt for secured personal loans are eligible for reduced interested rates. Competitive interest rates stop at a maximum APR of 19.50%.
Applying for the Loan
Interested parties availing Scotiabank Personal Loan will need to make an appointment with Scotiabank’s nearest branch. Qualified applicants should be at least 18 years of age or the age of majority in their province. Likewise, applicants must be Canadian citizens or permanent residents in the country. Having a good credit score and a stable income is also required by the bank.
Applicants whose loans are approved will be granted up to $50,000 if they apply for an unsecured personal loan. Meanwhile, clients who opted for a secured personal loan can obtain up to $150,000.
Interest rates can go as high as 19.50%. Interest will also continue to grow should customers choose to defer their payments.