An equity line of credit is ideal for significant purchases such as investment opportunities, RRSP contributions, home renovations or once-in-a-lifetime vacations. It allows you to borrow money without arranging for individual loans.

There is no yearly fee; interest rates are lower than most credit cards, and no interest is charged if the line of credit is not used. Based on balances owing, repayment is flexible. When you pay down the line of credit, it is available to you again without having to reapply. The borrowing minimum is $5,000.

Benefits	Features
Low-cost	Variable interest rate.
Flexibility	Predetermined credit limit and repayment amounts.A wide variety of uses, including investment opportunities, home renovations or special events.
Manageability	Attached to separate equity chequing account.
Accessibility	Ability to transfer funds to other accounts.
Saves money	Interest calculated on daily outstanding balance and paid monthly.
Peace of mind	Life insurance available.

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Fees
Debits	• $1

Other fees may occur. View Casera’s service fees.