Equity Lines of CreditEnhance your buying power.
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. |
Other fees may occur.
View Casera’s service fees.