Lines of Credit
A line of credit provides you with a predetermined amount of money that is available whenever you need it. You pay interest only on what you are using, yet have the peace of mind knowing that money is available at any time.
Features & Benefits
- Only pay interest on the funds you use
- Attached to your chequing account, providing overdraft protection
- As you pay the line off, the money is available again
- Competitive rates
- Local approval
Payment Schedule
- Make payments based on the previous month's interest charge
- Interest is calculated and debited from the account on the last business day of each month
- A deposit to the account of an amount equal to or greater than the previous month's interest charge is required by the 27th day of the month
