Scotiabank announces ScotiaLine ‘open loan’

Scotiabank is now offering a line of credit called ScotiaLine to customers in Guyana at what it described as a low introductory rate at 9.99%.

Scotiabank said in a press release that ScotiaLine functions like an “open loan” and once you’re approved, the money is available for you to access at any time, either by cheque, phone, online or at any Scotiabank branch.

With a personal loan you make a one-time withdrawal of your total loan amount, and pay back a set amount every month, but