Convert your bigger credit card purchases into bite size monthly installments 

An Intra Installment Plan is a credit card product feature that lets you use your revolving credit limit to convert eligible credit card purchases into equal monthly installment payments. You will have the option to pay off your Intra Installment Plan within 3, 6, 9 or 12 months

1. Purchase must be equal or greater than USD$250 (or local equivalent)
2. Purchase must be made in the same statement period as the Intra Installment Plan is set up
3. Your credit card accounts must be in good standing

1. To convert a credit card purchase:
2. Log into your Online or Mobile account and view your credit card transactions.
3. Click on the eligible transaction you want to convert into an Intra Installment Plan
4. Select “Convert to Installment.”
5. Select the term of (3,6,9 or 12 months) you want for your Intra Installment Plan
6. Accept the terms and conditions
7. Slide or click to submit request for Intra Installment Plan setup. 

No, only the primary cardholder will be able to convert credit card transactions into an installment loan and the account must be in good standing.

It could take 2-3 business days for the Intra Installment Plan to be displayed on your Online/Mobile account

You will be charged a one-time set-up fee of 1% to set up an Intra Installment Plan. This charge is to cover operational costs associated with setting up the Intra Installment Plan. This fee will form part of the Minimum Payment in the first statement following the creation of the Intra Installment Plan  

Intra Instalment Interest on the eligible Transaction converted to the Intra Installment Plan will be calculated based on an amortization table with a rate displayed at the time of the instalment creation  . 

• The quoted Intra Instalment Interest rate   converted into a monthly rate.
• This monthly rate is then used to calculate interest for each term
• The monthly rate is applied to the remaining balance on the Intra Instalment Plan.
• The interest amount decreases each term while the principal amount paid towards your plan increases each term, keeping the monthly payment amount equal for each term. 

You will be charged a one-time set-up fee of 1% to set up an Intra Installment Plan. This charge is to cover operational costs associated with setting up the Intra Installment Plan. This fee will form part of the Minimum Payment in the first statement following the creation of the Intra Installment Plan  

The credit card limit will not change once you convert a transaction into an Intra Installment Plan. However, the limit available for revolving credit purchases will decrease by the amount of the transaction that is converted into the Intra Installment Plan. Example:

• Credit Limit: $5000
• Amount Owing on Credit Card: $500
• Transaction value converted to Intra Installment Plan: $500
• Credit Available for purchases: $4500

Yes. The available limit will increase as you pay down the Intra Installment Plan each month. Each payment consists of principle and interest. Only the principle portion of the payment will affect the limit available for purchases

Yes. You can pay off the Intra Installment Plan in full or make larger payment by calling the contact centre

Yes. you can cancel your Intra Installment Plan at any time after it has been posted to your account. It will take 2-3 business days to process a cancellation request. To cancel the Intra Installment Plan call the Contact Centre. Note: the set-up fee will not be refunded unless you cancel the Intra Installment Plan in the same statement period in which it was converted

Scotiabank will cancel your Intra Installment Plan(s) if:

• Your account is no longer in good standing i.e. once your minimum balance is not paid on time.
• You pay your Card Balance in full
• You Account is closed for any reason

Your Intra Installment Plan monthly payments are included in your Minimum Payment and Amount Due and will be billed on each monthly statement starting with the first statement following the creation of the Installment Plan

After a conversion to the Intra Installment Plan is made, the Total Minimum Payment due on your next statement will be the sum of 1) the minimum payment for the balance owing on your Card Account which relates to other transactions that have not been converted to the Intra Installment Plan and 2) the installment principal amount plus interest on all Eligible Transactions that you have converted. The one-time installment fee will only be added to and included in the Total Minimum Payment due for the first statement following creation of the Intra Installment Plan.