Credit Card Rates & Fees

Your Scotiabank Mastercard® credit cards are subject to certain rates and fees. Information on those rates and fees, which are subject to change, is set out below. All fees quoted are listed in Guyanese Dollars (GYD), unless otherwise indicated. The capitalized terms used in this Schedule have the same meanings as are attributed to them in the Scotiabank Credit Card Cardholder Agreement ("Agreement"). This Schedule forms part of that Agreement.

Optional Scotiabank Mastercard Credit Protection^‡ provides up to $3,000,000 in coverage with premiums based on the outstanding balance on your previous month’s Scotiabank Mastercard account. No premium is charged if your previous month’s statement was zero. Life Protection: The cost for single Life Protection is $0.29 a month for every $100 of outstanding balance. Life and Critical Illness Protection: The cost for single Life and Critical Illness Protection is $0.52 a month for every $100 of outstanding balance.

You will benefit from an interest free period of at least 21 days for new purchases and fees, if you pay your statement balance in full by the payment due date shown on your statement. If you do not pay your statement balance in full by the payment due date, you must then pay the interest on all your purchases and fees shown on that month’s statement from the transaction date until we receive your payment for the total amount you owe. There is no interest free period for cash advances. Interest is charged from the day the cash advance is made until we receive your payment for the total amount you owe.

The applicable interest rate is established upon approval of your account. You can find your interest rate printed on the materials accompanying your credit card.

Annual fees are charged on the first day of the month following your account opening (whether or not the card is activated) and annually thereafter on the first day of the same month.

If you do not pay at least your minimum payment by the payment due date, we may, at our discretion, increase the interest rate applicable to all new and existing balances up to 28.00%. You will continue to pay the higher rate of interest, until such time as you have paid the minimum monthly payment by the payment due date for six consecutive months. Your interest rate for cash advances will always be 2.5% - 3.0% higher than the current interest rate on your purchases.

Foreign currency transactions (including both purchases and cash advances) and credits (returns) to your credit card account will be converted to the currency of the credit card at the foreign exchange rate equivalent to the rate determined on our behalf by Mastercard® International Incorporated, plus a percentage mark-up may be determined by the Bank from time to time, on the date the transaction is debited or credited to the credit card account. The exchange rate at the date of conversion may be different from the exchange rate in effect on the date the transaction was made.

Two-cycle average daily balance, including new purchases and cash advances.

No minimum charge for financing.

All fees are inclusive of VAT. Rates and fees are in effect as of February 2024 and are subject to change at any time.

^{** Cash Advance Fees are 2.5% - 3.0% of the advanced amount (ATM and Branches) (note respective Minimum Payments) plus applicable interest charges.}

^{‡ Where available.}

^{® Registered trademarks of The Bank of Nova Scotia, used under licence. Trademarks used under authorisation and control of The Bank of Nova Scotia.}

^{® Mastercard is a registered service mark of Mastercard International Incorporated.}