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.
Use the funds for whatever you like, not just for a specific purpose.
You can pay back the money you owe at any time.
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.
- 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.