Banorte vs Scotiabank: personal loan
| Banorte | Scotiabank México | |
|---|---|---|
| APR (CAT) | 42% | 46.5% |
| Amount | $10k–$650k | $10k–$400k |
| Term | 12–60 meses | 12–48 meses |
| Minimum income | $8,000 | $8,000 |
| What sets it apart | Greater flexibility with non-salaried; industrial corridor agreements | Canadian banking, service for North American residents |
When to pick Banorte
Banorte wins on a standard Mexican client, with or without payroll. The 4.5-point APR gap is significant: on a 100K loan over 36 months, around 8,500 pesos less paid at the end. The 60% larger max amount also extends the range.
When to pick Scotiabank México
Scotiabank wins when the profile is international or when you're already a Scotia client with a consolidated investment account. The North American network simplifies USD and CAD transfers with no extra fee. For Canadian residents with dual accounts, the integrated experience is worth the 4.5 points.
My recommendation
Mexican with local financial profile: Banorte. Canada/US connection: Scotiabank for the network.
How we compare these two
The figures in the table — CAT, amount, term — come from each institution’s public rate sheet, not from us, and the commercial relationship never changes them. The «cheaper» verdict weighs the total cost for a standard profile; your own CAT depends on your Buró and income, so treat the numbers as a starting point and confirm the final terms on the lender’s site before signing. The order of offers across the site follows our published methodology.
Read the full editorial review of Banorte or Scotiabank México before deciding.