Finvilo

Banking, loans and insurance in Nova Scotia

Nova Scotia credit union deposits are protected by the Nova Scotia Credit Union Deposit Insurance Corporation, auto insurance is private, and the land transfer tax, called deed transfer tax, is set by each municipality rather than the province.

Deposit protection

The Nova Scotia Credit Union Deposit Insurance Corporation protects eligible deposits up to CAD 250,000 per account type at each Nova Scotia credit union and caisse populaire. Bank deposits are covered by CDIC up to CAD 100,000 per eligible category.

Auto insurance

Auto insurance is compulsory and sold by private insurers. The Nova Scotia Utility and Review Board reviews rates.

Sales and property tax

Nova Scotia uses an HST of 14%. Each municipality sets its own deed transfer tax rate. Non-resident owners may also pay a provincial non-resident deed transfer tax.

Local rules by city

Offers confirmed in Nova Scotia

These products name Nova Scotia in the availability terms the provider publishes. Most listings do not state provincial availability yet, so check other categories too.

Sonnet Insurance logo

Sonnet Insurance

Car insurance

Car insurance offers protection against vehicle repair or replacement costs and responsibility for damage or injuries caused to others while driving. Drivers can customize and buy their policy online in Ontario, Quebec, New Brunswick, Nova Scotia and P.E.I.

Availability
Ontario, Québec, New Brunswick, Nova Scotia and P.E.I.
Full details for Car insurance (opens in new tab)
Sonnet Insurance logo

Sonnet Insurance

Home insurance

Home insurance protects your house, belongings and personal liability. It suits homeowners buying online in the listed provinces; policies have exclusions and limits that should be reviewed.

Coverage included
Personal liability; dwelling and detached structures
Availability
BC, Alberta, Ontario, Québec, New Brunswick, Nova Scotia or PEI
Full details for Home insurance (opens in new tab)
Sonnet Insurance logo

Sonnet Insurance

Tenant insurance

Tenant insurance protects renters’ personal belongings, personal liability and additional living expenses if they cannot live in their rental unit. It suits people renting or leasing their home because the landlord’s policy does not provide their contents or liability protection.

Coverage included
Personal belongings; personal liability; additional living expenses
Availability
BC, Alberta, Ontario, Québec, New Brunswick, Nova Scotia and PEI
Full details for Tenant insurance (opens in new tab)

Offers the provider lists as nationwide

BDC logo

BDC

BDC Business Purchase or Transfer Loan

Financing to buy, merge with or take over a Canadian business, including some transaction costs.

Repayment
Flexible, with interest-only payments at the start
Eligibility
Business being bought must be Canadian and generating revenue, with an agreed price and clear structure
Uses
Buying a business, competitor or supplier; management or employee buyouts; family transfers; refinancing seller financing
Additional costs
Can include legal fees, moving costs, goodwill and client lists
Full details for BDC Business Purchase or Transfer Loan (opens in new tab)
BDC logo

BDC

BDC Technology Equipment Loan

A loan for hardware, software, cybersecurity, digital infrastructure and expert IT advice.

Eligibility
Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Uses
Servers, computers, software, cloud, AI tools, websites, e-commerce, cybersecurity
Professional services
Can cover IT planning, strategy, security and online sales advice
Provinces
Nationwide
Full details for BDC Technology Equipment Loan (opens in new tab)
BDC logo

BDC

BDC Working Capital Loan

A loan for growth projects such as inventory, supplier payments, new markets and hiring, without using everyday cash.

Eligibility
Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Uses
Inventory, suppliers, new markets, product development, IP protection, marketing, hiring and training
Sustainability projects
Energy efficiency and green retrofit projects eligible
Provinces
Nationwide
Full details for BDC Working Capital Loan (opens in new tab)

Institutions serving Nova Scotia

These institutions operate in Nova Scotia. Membership and residence rules vary, and not every product they offer is available everywhere.

Common questions in Nova Scotia

How much is deed transfer tax in Nova Scotia?
It depends on the municipality. Check the rate with your municipality or lawyer before closing.
Is car insurance public in Nova Scotia?
No. Private insurers sell it, with rates reviewed by the Utility and Review Board.

Official sources

Limits and rules can change. Confirm current terms with the provincial body before relying on them. This is general information, not financial advice.