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.

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A line of credit is for you if you want:

  • Access to funds on an ongoing basis
  • 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
  • A one-time application process with no need to re-apply

Additional details:

  • Get 24-hour, no transaction fee access to your line of credit through CIBC branches, bank machines, telephone banking, online banking and mobile
  • Receive free personalized duplicate cheques
  • Receive itemized monthly statements
  • Pay off all or part of the balance at any time without penalty

Unsecured vs. secured line of credit:

  • Benefits
    • Get access to credit with a quick approval process
    • Ongoing access to funds for everyday purchases
    • Lower interest rate on credit secured by your home or other assets
    • Ongoing access to funds for larger purchases, debt consolidation or home renovations
  • Security required
  • Lending range
    $5,000 and up
    $10,000 and up
  • Rate
  • Term

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.