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Lines of Credit

Not sure which borrowing option is best for you?
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Discover the different lines of credit available

Personal Line of Credit
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Perfect for you:

If you want an unsecured credit account that allows you to borrow funds as required for a variety of needs.

What you get:
  • Open ended - Once you have a Personal Line of Credit, you can use the funds whenever you want without the need to reapply.
  • Easy access – Access the funds in your the same way as a chequing account – online, in-branch or over the phone. 
  • Protect yourself with creditor insurance.
  • Pay as you go – Only pay interest on what you use and make interest-only payments if needed.

​​Home Equity Line of Credit ​(HELOC)
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Perfect for you:

If you want to take advantage of the equity you’ve built in your home for other important goals like home renovations, debt consolidation or a dream trip.

What you get:
  • Higher limits, lower rates – Benefit from higher credit limits and lower interest rates because the HELOC is secured by your home. 
  • Re-advanceable – Access your home equity anytime. Once you have a HELOC, you can use the funds whenever you want without the need to reapply. 
  • Pay as you go – Only pay interest on what you use and make interest-only payments if needed. 
  • Easy access – Access the funds in your HELOC in the same way as a chequing account – online, in-branch or over the phone. 
  • Protect yourself with creditor insurance.

Student Line of Credit
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Perfect for you:

If you are a student looking for help managing the costs of your post-secondary eduction while also building your credit rating.

What you get:

  •  Maximum loan amount of $40,000 ($10,000/year) available.

  • Low rates, low payments – Lower interest rates than a credit card, and you only pay interest while in school.

  • Eligible for a six-month grace period following graduation where you only pay interest.

  • Easy access – Access the funds in your Student Line of Credit in the same way as a chequing account – online, in-branch or over the phone. 

  • Obtain a Student MasterCard, to begin building your credit rating.

     

Overdraft Protection
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Perfect for you:

If you occasionally require some extra money between pay periods to cover your expenses and want to avoid declined transactions, late payment charges and the accompanying fees.

What you get:
  • Once Overdraft Protection is in place, you are able to re-advance the funds as they become available.
  • Only pay interest on outstanding balances.
  • Peace of mind knowing your pre-authorized payments and cheques will clear.
  • Safeguard your credit rating and avoid the inconvenience and expense of a declined transaction.
 

​Carry a Mastercard® that rewards your lifestyle

Put your everyday purchases to work earning the rewards you want most – cash back, travel points, U.S. dollar purchases and more.

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Protect your peace of mind with creditor insurance

Sometimes life takes an unexpected turn. Creditor insurance ensures you’re ready for it, covering your mortgage payments in case of disability, job loss, critical illness and more.

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Your How-To Hub

How do I know if I'm ready to buy a house

You’ve probably purchased something, and then found out all the little things you didn’t think of are now adding up. Nowhere is this more of an issue than when you buy your own home. 

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How do I consolidate debt?

Debt consolidation is when a person obtains a new loan to pay out a number of smaller loans. The end goal is to have all of the various debts 'consolidated' under one combined loan and to have one payment where once there were many. 

READ MORE...

​Finding the right lending solution

There are several factors which contribute to your overall cost of borrowing. In this article we’ll review the most important ones to keep an eye on as you look for the right borrowing solution.

READ MORE...
 

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