Other Credits
This page will show you some of the loans, the lines of credit, and the mortgages.
1. Personal Loan
Term: 1 year to 5 years
-Borrow a specific purchase, to pay loan off within a period of time
-Specific monthly payment amounts; easier to budget
-Vacation, furniture, investment, or consolidate higher interest debt
-Loan secured against the equity in your home or other assets
-Pay off all or part of the loan without penalty
-Make frequent payments; lower your interest costs
Other details:
-Borrow minimum of $3,000
-Make scheduled payments with an Electronic Fund Transfer, at no charge
1. CIBC Personal Line of Credit
Features
-Access funds on ongoing basis
-Funds for home renovations, vehicle purchases, daily spending and consolidating higher interest debt
-Only borrow the funds you need; pay on what you borrow
-One-time application; no need to re-apply
Additional details:
-No transaction fee to 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
2. Personal Car Loan:
Term: 1 year - 8 years
-Financing a new or used vehicle
-Lower monthly payments by paying off your loan that take up to 8 years (96 months)
-Payments choices: weekly, bi-weekly, semi-monthly or monthly
-Apply online for a faster approval
Other details:
-Borrow minimum of $5,000
-Approved for CIBC Personal Car Loan, information only needs to be updated for future credit applications
-Make scheduled payments with an Electronic Fund Transfer, at no charge
-Pay off loan without penalty
-Can skip up to two payments yearly
2. Home Power Plan Line of Credit
Features:
-Funds at low interest rate; secured against your home equity
-No need to switch your mortgage to CIBC to qualify
-Pay interest on the funds you use
-Flexible repayment options; ability to pay little interest
-Your available credit increases as you pay down your mortgage
3. CIBC RRSP Maximizer Loan
Term: 12 months to 5 years
Rate:
-Fixed
-Variable
-On CIBC Prime lending rate 3.00%
-Tax refund by maximizing RRSP contribution
-Affordable monthly payments can spread out over periods up to 10 years
-Benefit from tax-deferred growth
-Access to larger amounts: $5,000-$50,000
-Ability to pay off loan without penalty
Other details:
-Borrow a minimum of $5,000
Mortgages
