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You are here: Home > Personal > Cards, loans and credit > Auto and other vehicle loans > Personal Line of Credit

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Personal Line of Credit

Have a pre-approved amount available to use at any time and for any purpose.

  • Credit limit: minimum $5,000
  • Interest rate: variable (based on the amount borrowed)
  • Payment schedule: daily, weekly or monthly

Features

This line of credit is an excellent choice if you manage your credit well and can withstand moderate interest rate fluctuations.

Interest rate

  • Variable rate based on the amount, your financial assets and collateral provided, if required
  • Rate fluctuates in relation to the prime rate charged by financial institutions
  • Interest is calculated on the daily balance so you only pay interest on the amount you have used

Amount available

  • Minimum line of credit of $5,000
  • The amount available is set based on your needs, financial situation and ability to repay
  • You can apply to increase an existing line of credit

Repayment

  • Loan payment frequency is flexible: daily, weekly or monthly
  • You can choose to pay:
    • a percentage of the monthly balance
    • a fixed or variable amount
    • or just the monthly interest
  • No prepayment penalties. Pay off your loan whenever you want, in part or in full, without being charged extra fees

Access to funds

  • At an ATM, online via AccèsD Internet, by phone at 1 800 CAISSES (1 800 224-7737) by cheque or at your caisse
  • Use special cheques available from your advisor to directly access your line of credit without affecting the balance of your personal chequing account

Possible uses

  • Renovate your home
  • Pay travel expenses

Other

  • Line of credit transactions appear on your monthly statement of account
  • No administration fees
  • Line of Credit Insurance (life and disability) available
    Find out more about Line of Credit Insurance
  • Eligible for potential member dividends
    Find out more about member dividends

Did you know?
If you occasionally need financing under $5,000, overdraft transfer may be just what you need.

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