Know You're Always Covered
Your approved line of credit is tied to your chequing account. So, when you’re in need of extra funds, they're immediately available to you. It can be a true safety net.
Access Lower Rates
Enjoy the flexibility of a credit card without the high interest rates and fees. You'll only pay interest on the money you use.
Enjoy Low Minimum Payments
If you're unsure how much a project or vacation will cost, a line of credit gives you more flexibility than with a lump sum personal loan.
Earn Cash for Everyday Banking
With our Member Rewards program, you’ll earn cash dividends by having your line of credit with us. The more you bank with us, the more you benefit!
Additional Information About Our Line of Credit
- Available for personal use only
- Interest earned on daily closing balance and paid at month end
- Minimum credit limit - $5,000
- Limits over $5,000 to $50,000 inclusive (increments of $1,000)
- Limits over $50,000 (increments of $5,000)
- Unlimited prepayment
- Interest payable monthly on last day of the month
- Application fees may apply
- Annual line of credit/authorized overdraft fees will apply
- Minimum repayment period is daily
- Maximum repayment period is monthly
The best line of credit for the money you need!
Join the 65,000+ Canadians who bank with us
Get the best personal loan online!
Personal Line of Credit vs Credit Card
| Item | Line of Credit | Credit Card |
|---|---|---|
| Interest Rate | 13% | 21.99% |
| Monthly Interest Paid | $10.83 | $18.33 |
| Payment Options | Flexible | Standard |
| Interest Charged On | The money you use | The money you use |
| Annual Fee | $25 | Up to $150 |
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Rates subject to change without notice.
Calculators on the site are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please contact us directly to seek personalized advice from qualified professionals for all personal finance issues.
Learn more about our accounts and services. Review our Account and Fee Information (pdf).
Identify the interest rates applicable to your account(s) and how they're calculated. Review our About Our Interest Calculations (pdf) document.
Loans and mortgages can be approved in one business day if you have submitted all required paperwork OR, you will be able to book an appointment in one business day and be approved in two businesses days if you have submitted all required paperwork.