Make your dreams happen - again and again
Personal Line of Credit (LOC)
It's a pre-approved loan that lets you use the funds again and again for whatever you want without having to reapply. Use it to finance a home renovation, purchase a new car, boat or RV, invest in your child's education or consolidate high interest debt. You only pay interest on what you use. Interest is calculated daily on the balance and the number of days that balance was outstanding.
Monthly repayment is based on 3% of the principal balance outstanding and any interest owing as of the 30th of each month. Repayments correspond to your pay dates, whether it's weekly, bi-weekly, semi-monthly or monthly. We'll match your line of credit payments to your payroll deduction or the direct deposit of your pay.
Call our Loan Specialists at 416.366.5534 to set up an appointment or get pre-approved now.
RRSP Line-of-Credit
An RRSP Line-of-Credit (RRSP LOC) is a line of credit separate from any regular LOC you may have, and used ONLY to advance funds into your RRSPs. The rate is at PRIME if repaid before March 1 of the following year. Deferred payments are available up to 90 days. Catch up RSP loans are also available at different rates.
