How the Accessline of Credit works
Once a line of credit is set up, it allows you to create your own loan at any time - you don’t need to ask your lender every time you need to access the funds. You make the decision when to use the credit and how much to use. You'll only pay interest on the amount you use, so making bigger purchases with your line of credit rather than your credit card can save on interest.
Other credit options
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We also offer overdraft protection that operates like a line of credit on your chequing account.
- If you want to use a line of credit to contribute to your RRSP, we offer a preferred line of credit.
- We also offer a special mortgage secured line of credit called the Mortgage Secured Accessline.
Talk to a lender at your local branch to learn more about any of these lending options.