Loan Rates | Secured Line of Credit
|FirstOntario Credit Un.||5.490|
|Laurentian Bank Canada||10.250|
|PACE Savings & Credit Un||6.750|
|Your Neighbourhood C.U.||6.500|
A line of credit is an agreement by a financial institution to loan money to a borrower up to an agreed upon maximum. Interest is only charged on the money that is actually withdrawn from the line of credit. The line of credit is secured by collateral, such as the principal residence of the borrower.
These rates are for indication purposes only and should be confirmed with each institution directly. The actual rate available to a borrower will vary depending upon a number of factors which may include general credit worthiness, security/collateral provided, borrowing/repayment history and the extent to which the borrower has other products/services with that particular vendor.
Prepared by Cannex on December 18, 2014
This information is current as of the date and time posted and is subject to change without notice.
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