Apply for a Scotia Plan Loan or refinance, and you can WIN†.
Here's how:
Have an existing deposit account or open one during the Promotional Period
Sign in to the Scotia Caribbean App or Scotia OnLine banking by February 15th, 2025.
Apply and receive the proceeds of a new unsecured Scotia Plan Loan for a minimum of $25,000 BBDwith an auto-payment from a Scotiabank deposit account OR
Refinance an existing unsecured Scotia Plan Loan, with new funds at a minimum of $25,000 BBD with an auto-payment from a Scotiabank deposit transactional account.
†Terms and Conditions
Definitions
The following definitions apply to these Terms and Conditions:
“Eligible” refers to any individual qualified to participate in this contest/campaign.
“Individual” means a person who has entered the contest/campaign during the Promotional Period.
“Promotional Period” means from November 15th, 2024, to January 31st 2025, inclusive of start and end dates.
“Promotion” refers to this Scotiabank Christmas Campaign 2024 and not any of The Bank’s other promotions or programs.
“Account” refers to Scotia Plan Loans, Auto Loans, Mortgages, Credit Cards.
“Eligible Credit Facility” refers to any new or refinanced Unsecured Scotia Plan Loan (SPL) for or exceeding BBD $25,000.00.
“The Bank” and “Scotiabank” means Scotiabank (Barbados) Limited.
“Prize” refers to the prize(s) offered at the end of the promotional period by The Bank.
ELIGIBLITY
This Promotion is open to legal residents of Barbados, 18 years of age or older, who have a Deposit Account with Scotiabank, or have opened one within the Promotional Period, and who have applied for, and activated, or received the proceeds of, an Eligible Credit Facility during the Promotional Period, with the exception of Scotiabank employees and/or those living in the same household as Scotiabank employees, their immediate families including (spouses, parents, children, siblings, and their respective spouses), as well as any of Scotiabank’s partner companies, subsidiaries and/or its advertising agency Valdez and Torry International and their immediate families including (spouses, parents, children, siblings, and their respective spouses).
To qualify for any Prize, the Individual must be a Scotiabank Client whose Accounts are in good standing, which includes not being overdrawn, blocked, frozen, written-off or delinquent throughout the Promotional Period, or delinquent for two (2) or more cycles within the past twelve (12) months.
If an Individual earns a Prize but ceases to be a Client during the Promotional Period, or the Individual's Accounts cease to be in good standing as in two (2) above, or, the Individual becomes an “immediate family member” as in one (1) above, then the Individual shall be considered ineligible to receive the Prize.
QUALIFYING CRITERIA/ HOW TO ENTER
Clients meeting the following criteria will receive one (1) entry at the end of the Promotional Period:
Mustapply for, and receive, the proceeds of a new Unsecured SPL for a minimum of BBD $25,000 with an auto-payment from a Scotiabank deposit transactional account, OR
Refinance an existing Unsecured SPL with new funds of at least BBD $25,000 with an auto-payment from a Scotiabank deposit transactional account; AND
The Client must Log into Scotia Online banking (mobile or browser) by February 15th, 2025.
OFFICIAL RULES & REGULATIONS
1. The Promotion runs from November 15th, 2024, to January 31st 2025, inclusive of start and end dates and is available to all new and existing Scotiabank Individual (retail) Clients.
2. Unsecured Scotia Plan Loans and Refinanced Scotia Plan Loans must be booked during the Promotional Period of November 15th, 2024, to January 31st 2025.
3. February 7th 2025 is the final day for a client to receive the loan proceeds or the fulfillment of the Unsecured SPL in this campaign.
4. Winners will be selected on February 21st, 2025, by the Bank based on the qualifying criteria. (refer to QUALIFYING CRITERIA/ HOW TO ENTER).
Prizes:
a. 1st Prize: BBD $20,000 in groceries and gas covered for 1 year (12 months) split as follows BBD $12,000 in groceries from Massy Stores Barbados and BBD $8,000 in gas from a recognised dealership.
b. 2nd Prize: Scotiabank will "Forgive" an unsecured loan for one (1) Client up to a maximum of BBD $15,000.
c. 3rd Prize: Scotiabank will "Forgive" an unsecured loan for one (1) Client up to a maximum of BBD$7,500.
Relative to the 2nd and 3rd Prize mentioned above, this payment may or may not cover the full Unsecured SPL settlement of the SPL.
a. If the full settlement is not covered by the application of this payment, the Client remains liable for any outstanding balance due on the loan.
i. Example: Should the Client win the 2nd Prize, and his/her loan balance is BBD $20,000.00, the sum of BBD $15,000.00 will be applied to the Client’s loan, but he/she will be responsible for paying the remaining BBD $5,000.00 due.
b. Where the settlement is less than prize allotted, The Bank will only settle the loan balance and the Client will not be entitled to receive any further sums.
i. Example: The Client’s loan settlement is BBD $10,000.00 and he/she wins the 2nd Prize. The prize/sum is therefore BBD $15,000.00. However, the amount of BBD $10,000.00 will be applied to settle the Client’s loan and no further payments will be made by the Bank to the Client in respect of the additional BBD $5,000.
c. In all cases where the amount of the prize allotted is less than the amount required to settle the SPL in full, the Client will be responsible for making their next Installment(s) as usual, due in the following month, and every month thereafter until full settlement of the remaining balance due on the SPL.
d. Unless the amount of the allotted prize settles the balance on the SPL in full, if a Client wins either the 2nd or 3rd Prize above, the application of such payment to the SPL does not relieve the Client of his/her remaining obligations under the terms of the Personal Credit Agreement and the Client is required to resume the payment of his/her Installments in the month following the one-time payment by Scotiabank and every month thereafter until full settlement of the SPL balance. For example, if your SPL monthly installments are due on the 30th of each month, and the Bank applies either the 2nd or 3rd place Prize, and your monthly installment is due on March 30th, 2025, you will be required to pay the Installment that falls due on April 30th, 2025 and every month thereafter until full settlement of the SPL balance.
e. Clients are encouraged to consult Scotiabank staff to ensure continued timely payments.
5. Auto Loans, Residential Mortgages, Land Loans DO NOT QUALIFY for this promotion.
6. Each winner shall be notified by telephone within ten (10) business days from the date of the draw and shall as a condition of the award of a prize, provide proof of their age and sign an Affidavit of Eligibility/Prize Acceptance and Release within five (5) business days of notification to be confirmed as a winner. If the winner declines to fulfill these conditions to collect the prize, their eligibility will be voided, and another winner will be drawn from the pool of eligible entries.
7. The Bank will contact winners using the personal or employer’s telephone and email addresses as provided by the Client and retained on The Bank’s records. If the winners cannot be contacted after five (5) attempts by telephone within ten (10) business days from the date of the draw, The Bank has the right to draw an alternate name.
8. The winners’ name may be published in the media. A Winner must agree to the use of his or her name and videos and photographs without compensation in any forthcoming publicity by Scotiabank, specific to this Promotion as your status as a winner.
9. To unsubscribe from receiving communications about, and/or to opt out of this Promotion, please call the Scotiabank Contact Centre by dialing the number on the back of your Scotiabank credit or debit card or by calling (246)426-7000 or by emailing ClientCareBB@scotiabank.com.
10. Prizes are not transferable.
11. The Bank reserves the right, in its sole discretion to void all entries. The winner will be responsible for expenses, as applicable, not explicitly stated as part of their prize, and must agree to release, discharge and hold harmless The Bank from and against any or all claims, losses, or damages resulting from participation in the Promotion.
12. In all matters relating to this Promotion, the decision of The Bank shall be final and binding in all respects.
These terms and conditions apply only to this Promotion, and do not apply to any of The Bank’s other promotions or programs or any other promotion or program in conjunction with The Bank and any other entity or brand.
· For further details please visit: bb.scotiabank.com
* Trademark of The Bank of Nova Scotia used under license.
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