Scotiabank

Scotia Bank

Scotia Professional Student Plan (SPSP) is a comprehensive banking program designed specifically to meet the unique needs and goals of professional students.  SPSP also provides funding for students completing required internships or residencies.

A guarantor/co-borrower is not required if the student has a satisfactory credit history

The SPSP features include:

• Revolving credit line * as low as Prime (Program limit $200,000, Annual limit $50,000)
• No monthly or annual fees
• No principal repayment required until 12 months after graduation/completion of Residency; may be repaid at any time without penalty.
• After graduation and during the 12-month repayment grace period, continue to draw on the credit line within authorized limits.
• Line of Credit automatically converts to a term loan with no change in interest rate once the repayment grace period has ended.
• Interest is calculated daily, added to your balance monthly.  No interest payments required while within program limits
• Personal Day to Day Bank account; Fees waived while enrolled in school; 24/7 access to funds
• Pre-approved for  $5,000 overdraft protection
• Pre-approved for $5,000 Visa (Visa card options to meet your needs)
• Administration Fees waived on ScotiaMcLeod RSP and Scotia McLeod Direct Investing RSP
• Free blueprint Financial Plan
• Additional funds may be available for Residents
• Minimum time from application to product set up can be as quick as 2-3 business days

For More information in regard to our Scotia Professional Student Plan please contact:
 

 * subject to credit approval