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Solutions Banking™ lines of credit

Flexible loans to finance your goals

Solutions Banking borrowing options can help you pay for the projects and purchases that are important to you and may otherwise take months or years to set aside money for.

Solutions Banking products and services are provided by National Bank of Canada, and are offered through certain advisors only. Other bank products and services are provided by National Bank of Canada under its own name, and are provided through other advisors. For further information, ask your advisor.

  • Flexible use

    Use the funds for whatever you like, not just for a specific purpose.

  • Flexible repayment

    You can pay back the money you owe at any time.

  • Lower interest

    Line of credit interest is usually lower than for a credit card or a personal loan.

What is a line of credit?

A line of credit is a special type of loan lets you borrow money up to a pre-set limit. You can access the money from your line of credit by cheque, automatic teller, phone or online banking.

More advantages of a line of credit

  • You can use as much of the funds as you like, up to a specified maximum.

  • You only have to pay interest on the money you borrow.

Disdvantages of a line of credit

  • With easy access to money, you need to be disciplined to control your spending, so you don’t get yourself into financial trouble.

  • If interest rates rise, you may have difficulty paying back your line of credit.

Compare Solutions Banking lines of credit
Secured Personal Flex Line
CSV line of credit 
Minimum credit limit
$5,000
$50,000
Security
Secured by your Canada Life Mutual Fund or segregated fund policy which means lower interest rate
Secured by the cash surrender value (CSV) accumulated in your permanent life insurance policy issued by Canada Life 
Interest
Competitive variable interest rate
Competitive variable interest rate
Other features
  • Like having a pre-approved loan at your fingertips, with all the access privileges of a chequing account  
  • Access funds whenever you need them to help pay for unplanned expenses, to consolidate loans, or to finance a large purchase
  • A powerful financial security planning tool that can help you use the cash value in your life insurance policy to take advantage of personal or business opportunities 
  • It can provide a lump sum of money to help you pay for unplanned expenses 
  • It can be used to produce a cash flow during your lifetime while maintaining a death benefit payable at your death 

Build your banking into your financial plan

Your advisor can help you manage your savings in an effective way and identify strategies for paying off debt as quickly as possible.

Footnote ®1
®1 Registered trademark of Fiserv Inc.
Footnote TM
TM Solutions Banking products and services are provided by National Bank of Canada, and are distributed by The Canada Life Assurance Company (Canada Life).  Solutions Banking is a registered trademark of Power Financial Corporation, used under licence by National Bank of Canada and Canada Life.
Footnote *
* Fee waiver does not include Interac®1 and CIRRUS®3 network or services fees or convenience fees charged by some financial institutions or private ABMs. For full fee disclosure, refer to the Solutions Banking Product and Services Guide to FeesOpens in a new window.