Personal Line of Credit

CIBC Personal Line of Credit

Get flexible access to funds for everyday expenses or big-ticket items, at interest rates lower than most credit cards.


This line of credit is for you if you want:

  • Access to funds on an ongoing basis because your borrowing needs vary during the year
  • Flexible funds for home renovations, vehicle purchases, daily spending and even consolidating your higher interest debt
  • To only borrow the funds you need, and pay interest on what you borrow and not your total credit limit
  • A one-time application process with no need to re-apply

Other line of credit details:

  • Access credit that ranges from $5,000 up to $200,000 with a secured lines of credit
  • Get 24-hour access to your line of credit through CIBC branches, bank machines, telephone banking, online banking and mobile banking - all with no transaction fees
  • Receive free personalized duplicate cheques
  • Receive itemized monthly statements
  • Pay off all or part of the loan at any time without penalty

Benefits of a secured vs. unsecured line of credit:

Secured line of credit
  • Get a lower interest rate on credit that’s secured by your home or other assets
  • Get a higher credit limit for major purchases like home renovations or a vacation property
Unsecured line of credit
  • Get access to credit faster with an expedited approval process
  • Borrow up to $200,000 with no security required

Applicants must meet all CIBC lending criteria. Certain conditions and restrictions apply. Credit limit determined by CIBC, in its sole discretion. Products, their features and interest rates 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 personal line of credit will change whenever CIBC Prime varies.

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