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LINES OF CREDIT & LOANS

 

CHOOSE THE RIGHT BORROWING SOLUTION

Sometimes, the best way to reach your financial goals is to borrow money. We're here to guide you through it.

 

Personal Loans / RRSP Loans

Get the money you need up front and choose the loan repayment option that fits your lifestyle and your budget. Your monthly payments are predictable and stay the same over the term of the loan.

Lines of Credit (LOC)

For everything planned and everything unexpected, you can have access to credit as you need it. The interest rate is variable and your minimum monthly payment will vary each month.

 

 

Secured vs. Unsecured

 

Loans and LOCs are available as secured or unsecured products. Secured loans and LOCs are protected by collateral or assets in case of a default. When a loan or LOC is secured, you can usually qualify for a larger amount and get a better interest rate.
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ESTIMATE YOUR LOAN PAYMENT

Use our calculator below to estimate how much you can borrow and what your payments will be. Choose to calculate your loan payment for a specific amount using the Payment tab. Or, under the Amount tab, start with the payment you can afford and from there calculate how much you can borrow.

 

 

BORROWING IS SIMPLE

Whether you want to make a major purchase, renovate your home, buy a new car, borrow to invest or consolidate your debt, our experts can help you choose the borrowing solution that's right for you.

Apply for a personal loan online or call us at 1-888-597-8083 to get started.

APPLY ONLINE
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Resources

 

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Understanding your credit score gives you the keys to building your credit so you can get better rates. 

READ ARTICLE
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Maintain your family's lifestyle in the event that something should happen to you with loan insurance.

LEARN MORE
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Understand where your borrowing fits in your larger picture and how it helps you reach your goals. 

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BORROWING OPTIONS

PERSONAL LOANS

For whatever life throws at you. Get the money you need up front and choose the repayment option that fits your lifestyle and your budget. Your monthly payments are predictable and stay the same over the term of the loan.

Key Features & Benefits

  • Loan amount: $5,000 to $5,000,000
  • Loan term: 1 to 5 years, with an option of up to 15 year amortization, depending on the loan
  • Choose between an unsecured loan (based on your income and credit rating) OR a secured loan (based on your assets)
  • Quick approval, with pre-approval option
  • Flexible payment options
  • No prepayment penalties



RRSP LOANS

If you have unused RRSP contribution room from previous years or are looking for funds to make this year's contribution, an RRSP loan can help you in making sure you don't miss out on the tax savings while growing your RRSP investments.

Key Features & Benefits

  • Loan amount: max $50,000
  • Loan term: 1 to 5 years, with an option of up to 15 year amortization, depending on the loan
  • Up to 90 days before your first payment
  • Quick approval, with pre-approval option
  • Flexible payment options
  • No prepayment penalties​
  • The money your borrow to invest will grow together with the rest of your RRSP investment



PERSONAL LINE OF CREDIT

LOCs give you access to available funds up to an approved limit. Use them to purchase a car, pay for a vacation, cover tuition fees or fund short term cash needs. Your money is simply an extension of your account. The interest rate is variable and your minimum monthly payment will vary each month.

Key Features & Benefits

  • LOC amount: minimum $5,000
  • Choose between an unsecured line of credit (based on your income and credit rating) OR a secured line of credit (based on your assets) like a Home Equity Line of Credit (HELOC) which allows you to access the equity built into your home as a financial resource
  • Interest charged only on the funds you use
  • Quick approval
  • Interest only payments allowed
  • Flexible payment options
  • No prepayment penalties​

OVERDRAFT PROTECTION

With bill payments, debit transactions, preauthorized payments, and cheques, all coming from your account, sometimes your balance isn’t what you think it is. In the event of a shortfall, overdraft protection provides you access to available funds, up to an approved limit, to avoid the inconvenience and cost of an overdraft and/or returned payment. Think of it as backup.

Key Features & Benefits

  • Overdraft amount: maximum $5,000
  • Can be used any time throughout the month to cover unplanned or short-term expenses
  • Your money is simply an extension of your account
  • Quick approval
  • Flexible payment options—minimum 3% of the previous month end balance
  • No prepayment penalties
  • Interest charged only on the funds you use
  • Monthly fee of $3.00

Personal Loans

Rate varies depending on loan term and other considerations. Please contact us to see how a personal loan can work for your specific needs.

Use our calculator to get an idea of what your loan payment could be, or calculate your loan amount for the payment you can afford.
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USE OUR CALCULATOR
 
List of rates for VARIABLE LOAN RATES
VARIABLE LOAN RATES Rate
Personal Loan (1 to 5 year term)
10.59
RRSP Loan (1 to 5 year term)
6.45
 


Lines of Credit Rates

 

Line of Credit ($5,000+)

 Prime+increment

Overdraft Protection

 21.00%

 

Rates are subject to change without notice and are available O.A.C. Terms and conditions may apply.
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