Scotiabank 3-year variable mortgage rate.
Today’s best 3-year variable in our network is 3.65%. We access Scotiabank’s broker-channel pricing — typically 15-30 bps below posted — and compare it across 50+ lenders.
Scotiabank’s best 3-year variable rate today is approximately 3.65% through the broker channel — about $2,840/month on a $700,000 home with 20% down over 25 years. A 3-year variable is a shorter-commitment variable for borrowers who want flexibility and a quick re-shop. The branch rate is rarely Scotiabank’s best — the broker channel typically runs 15-30 bps lower.
Scotiabank payments by term
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | — | — |
| 5-Year Variable | — | — |
| 3-Year Fixed | — | — |
| 3-Year Variable | — | — |
| 2-Year FixedLowest | 4.14% | $2,988/mo |
| 1-Year Fixed | — | — |
| 4-Year Fixed | — | — |
| 7-Year Fixed | — | — |
| 10-Year Fixed | — | — |
The 3-year variable with Scotiabank
Who it suits. Borrowers who like the variable structure but want to revisit the whole mortgage in three years rather than five. It suits people expecting rate cuts who also anticipate a change — selling, refinancing, or restructuring — inside three years.
What drives the rate. Like the 5-year variable, it moves with prime and the Bank of Canada, but the shorter term means you renegotiate sooner. Availability is thinner than the 5-year variable, so the lender mix that offers it matters.
Breaking it early. Three months' interest, the same cheap-exit advantage as any variable — paired here with an even shorter commitment.
How Scotiabank prices the broker channel
Industry leader on newcomer mortgages via Scotia StartRight — among the most flexible major banks for permanent residents and work-permit holders. Strong investment-property lender with the Scotia STEP readvanceable program.
Scotiabank runs two 3-year variable rate sheets: the posted/branch rate and a wholesale broker-channel rate a licensed brokerage accesses, usually 15-30 bps lower because the broker handles origination. You can’t reach it by walking into a branch. On a $700,000 mortgage, 20 bps is roughly $1,400 a year.
- Scotia StartRight newcomer program
- Investment property mortgages
- Scotia STEP readvanceable
- International credit acceptance
A worked example
On a $700,000 home with 20% down, the mortgage is $560,000. At Scotiabank’s best 3-year variable rate of 3.65% over a 25-year amortization, the payment is about $2,840/month. Walk into a branch at the posted rate (~15-30 bps higher) and you’d pay $50-100 more a month for the identical mortgage — which is exactly what the broker channel saves. Model your numbers in the Scotiabank calculator.
Whatever your situation with Scotiabank
We submit to Scotiabank's broker desk and 50+ other lenders on one application — whichever prices your file lowest wins.
First-time buyers
5% down with FHSA + RRSP HBP optimization — Scotiabank or whichever lender prices you lowest.
Refinancing
Unlock equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with Scotiabank — most clients beat the first offer by 30-60 bps.
Self-employed
Business-for-self files priced right across A-lender, alt-A and private.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
Breaking a Scotiabank mortgage
Estimate the Scotiabank posted-rate IRD penalty before you switch.
6 reasons to get Scotiabank's 3-year variable through a broker
Why the branch rate is rarely Scotiabank's best 3-year variable — and how the broker channel changes the math.
Access the broker channel
Scotiabank's broker-channel 3-year variable rate is typically 15-30 bps below the branch rate — and you can only reach it through a licensed brokerage like ours.
Scotiabank and 50+ others compete
We submit your file to Scotiabank's broker desk and the rest of the network on one application, so you get Scotiabank's best and the market's best side by side.
No bureau pull to start
We can shop your Scotiabank 3-year variable rate without a hard credit check, so comparing costs you nothing.
We handle the paperwork
From application to Scotiabank's underwriting to funding, we manage the file end-to-end.
Switch or renew without overpaying
At maturity we benchmark Scotiabank's renewal/switch offer against the whole market so you never auto-renew high.
Best-rate guarantee
We'll beat any comparable Big-6 3-year variable offer or pay you $500 — and our advice is free, paid by the funding lender.
Why shop Scotiabank through us
- Direct access to Scotiabank's broker desk — plus 50+ other lenders on one application.
- Broker-channel pricing 15-30 bps below Scotiabank's posted rate.
- One application, every lender — Scotiabank's best and the market's best, then you choose.
- FSRA-licensed advice, no bureau pull to start, best-rate guarantee or $500.