This personal loan is for you if you want:

  • To borrow for a specific purchase, and to pay the loan off within a set period of time
  • Specific monthly payment amounts, making it easier to budget
  • To take a vacation, buy furniture, make an investment, or even consolidate your higher interest debt
  • A loan that’s secured against the equity in your home or other assets
  • To pay off all or part of the loan at any time without penalty
  • The ability to lower your interest costs by making more frequent payments
  • To apply online for a faster approval

Other loan details:

  • Borrow a minimum of $3,000
  • Make scheduled payments from your CIBC account at no charge with an Electronic Fund Transfer (EFT)

Benefits of a secured vs. unsecured personal loan:

Secured loan

  • Get a lower interest rate that’s secured by your home or other assets
  • Get a higher credit limit for major purchases like renovations or a vacation property

Unsecured loan

  • Get access to credit faster with an expedited approval process
  • Borrow up to $200,000