Lines of Credit

A line of credit is a pre-approved amount or limit that you can borrow based on your financial situation.  It is attached to your chequing account.  The benefit of a line of credit is that it revolves and can be re-used as you repay the balance used.  Interest is charged only on the balance outstanding so if you don't use it, you don't pay for it, but you still have the peace of mind that it is available to you anytime you need it.

Types of Credit Lines

Overdraft Protection

  • Usually a smaller pre-approved limit used to manage, potential chequing account shortfalls
  • For amounts less than $5000
  • Fixed interest rate

Personal Line of Credit

  • CreditMaster® home equity line of credit, based on the equity in your home
  • Flexibility and convenience that fits your personal or family needs
  • Variable floating interest rate based on our prime rate

How to Apply

Contact us and we will show you how to get started today or apply online

 

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