Lines of Credit

Having a line of credit allows you to be in a financial position to access money when you need it - for emergencies, home expenditures, car repairs etc. How you use the funds is up to you. A line of credit allows you to overdraw your chequing account within a pre-established limit. The line of credit is accessible for Direct Payment purchases and ATM cash withdrawals.

There are no annual fees for your line of credit; you only pay interest on the money you use. Interest is charged solely on the amount borrowed, and only for the number of days it is used. If the line of credit remains unused, you pay no interest at all.