Lines of credit

Lines of credit

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Access credit whenever you need it at a much lower rate than a credit card — that’s the beauty of an Affinity Line of Credit or Quick Loan. And you can reuse it without having to reapply. Repayment options are flexible, and you’re only charged interest on the amount you use.

Let’s do a quick comparison, shall we?

​​Line of Credit​​Quick Loan
​Directly linked to your chequing account for convenient access​A re-advanceable loan that allows you to transfer funds to your account when needed
  • ​Provides coverage between paydays for items that clear at inconvenient times, preventing overdraft and NSF fees
  • Monthly interest payments
  • Repaid by regular monthly deposits to your accounts
  • Immediate access to credit by using debit card or writing a che​que
  • Available secured or unsecured, with limits and rates set accordingly 
  • ​Kept separate from your day-to-day account transactions, allowing you to better monitor your usage and repayment
  • Flexible monthly payments as low as interest-only
  • Pay down and re-advance up to the approved limit without having to reapply 
  • Repay at any time without penalty
  • Conveniently transfer funds online, by phone or mobile app
  • ​Available secured or unsecured, with limits and rates set accordingly