CIBC Personal Line of Credit

If your borrowing needs vary during the year, consider a CIBC Personal Line of Credit (PLC).

A PLC is a flexible way to get extra funds for things like home renovations, vacations or even a big screen TV. You can withdraw any amount of funds up to the predetermined, approved credit limit - which is based on your personal financial situation. Once you've paid it back, you can use it again and again without re-applying.

Apply online, call Telephone Banking at
1-866-525-8622 or visit one of our branches.

Is it for you?

CIBC Personal Line of Credit could be for you if any of the following apply:

You need to borrow additional funds now or in the near future.
You want to make purchases knowing the money is there when you need it.
You want to choose a payment due date that suits you.
You need access to funds for purchases on an ongoing basis (for example, for home renovations or investments).

Key benefits

Saves you money	Save with a competitive interest rate that is lower than most retail credit cards. It's variable and based on the CIBC Prime1 rate. Interest rates can be even lower if your PLC is secured by the equity in your home or other assets. Make interest payments only on the funds you use, not your total credit limit. Receive free personalized duplicate PLC cheques. Pay no service charges for setting up a PLC or writing cheques on your PLC.
Puts Money "On Reserve" for You	Your PLC credit limit can range from $5,000 to $200,000. Borrow any amount up to your credit limit, at any time.
Convenient	A one-time application means the money is available whenever you need it and you don't have to re-apply for credit every time. Access the money by CIBC bank machine, Telephone or Online Banking, INTERAC* Direct Payment, InterBranch banking or by writing a PLC cheque - all with no transaction fees.2 Itemized monthly statements help you keep track of your PLC.

Useful information:

Your monthly repayment amount is based on your outstanding balance.3
Payment due dates are printed on your statement.

Optional Features:

CIBC Personal Line of Credit Disability Insurance4

CIBC Personal Line of Credit Life Insurance4

Trademarks and Disclaimers

Applicants must meet all CIBC lending criteria. Certain conditions and restrictions apply. Credit limit determined by CIBC, in its sole discretion. Products and their features may change at any time. This is a general description only; for more information and product terms and conditions, consult product brochures or call CIBC at 1-866-525-8622.

1 CIBC Prime is the variable rate of interest per year declared from time to time to be the prime rate for Canadian dollar loans made by CIBC in Canada. The interest rate on your PLC will change whenever CIBC Prime varies.

2 All withdrawals at bank machines not displaying the CIBC name or logo are subject to additional fee(s).

3 A minimum monthly payment is required and will be determined by CIBC, in its sole discretion, and is subject to change at any time. The minimum monthly payment will be either

i) 3% of the outstanding balance or $60 (whichever is greater) or
ii) the monthly interest on the outstanding balance.

CIBC will advise you of your payment option(s) once a decision has been reached on the credit submission.

4 Underwritten by The Sun Life Assurance Company of Canada. A detailed summary of the terms, conditions, limitations, exclusions and other provisions are contained in your Certificate of Insurance, which you receive upon enrolment.

* Registered Trade-Mark of Interac Inc.; CIBC authorized user of the trade-mark.

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