Revolving Credit Lines
- linked to your deposit account
- automatically drawn when you need it, to a set limit
- fully accessible by ATM, cheque, debit card, etc.
- no standby fee or minimum charge
- $20 annual fee if approved LOC is under $10,000; no annual fee if approved LOC is $10,000 or more
- no set principal repayment - you can pay interest only (must revolve principal at least once per year)
- available secured or unsecured, with limits and rates set accordingly