Personal Line-of-Credit (LOC)

A Line-of-Credit is actually a pre-approved loan. Funds are advanced, as required, up to your approved limit. There are no service charges or stand-by fees for this overdraft protection.

Repayment each month is based on the following factors:

  • An amount equal to 3% of the Line-of-Credit principal balance outstanding and any interest owing as of the 15th of each month. Interest is calculated daily on the balance and the number of days that balance was outstanding.
  • The payments are taken automatically from your chequing account on the 15th of each month. You may also apply additional funds to your LOC anytime you wish.
  • This loan is completely open and can be partially or fully paid down at any time.
APPLY NOW LENDING RATES SERVICE FEES

Life Events Calculators:

Accelerated Payment Home Budget Analysis Loan Amount Loan Comparison Mortgage Qualifier Mortgage Comparison Mortgage Loan Cool Million Mortgage Payoff Mortgage Refinancing Payment Frequency Rent vs. Buy Lease vs. Buy