the ‘life happens’ line of credit (or money when you need it)
In an ideal world, we wouldn’t need a line of credit because funds wouldn’t be limited. But as we all know, this just isn’t the case and sometimes you need a couple extra bucks to buy groceries or finish up a project around the house. Enter the ‘life happens’ line of credit.
To get technical for a moment, this line of credit acts as a pre-authorized borrowing limit attached to your chequing account. Think of it as an extension of your account, there in case you are running short on cash or are hit with a surprise expense. The best part of the ‘life happens’ line of credit? You are only charged interest on the portion you use. So if you use $100 of your $5,000 line of credit, you only have to pay the interest on $100. Simple as that!
The line of credit amount and interest rate are subject to credit approval, so contact one of our branches for more information.