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Variable Rate Loans

Open Terms for Maximum Flexibility

Our Variable Rate Loans give you the option of prepayment anytime without the risk of incurring a penalty.  That’s a Member-friendly feature, should your circumstances change and you’re able to repay the loan faster than you originally planned.

Because each Member is unique, Variable Rate Loans can be used for many different borrowing purposes.  Here’s a list of the most common types of Variable Rate Loan we offer.

► Car Loans

The length of term depends on the car’s model year and the amount borrowed.  Terms up to seven years are available.

► Investment Loans

Use credit to take advantage of compelling investment opportunities.

► RRSP Loans

Maximize your tax deduction this year and use the refund cheque to retire a big portion of the loan.

The interest rate on Variable Rate Loans fluctuates with changes in the Prime Rate but your premium over Prime will remain the same throughout the entire term of the loan.   Loans may be fully secured, partially secured or unsecured, depending on the purpose, term and your personal creditworthiness.  Secured loans typically carry a preferred interest rate.

We Make Sure the Loan Payment Options Are Right for You

You have a choice of monthly, bi-weekly or weekly payment options to match your cash flow.  Plus, optional life, disability and critical illness insurance are available to make sure you and your family are protected in the event of illness or death.

Let's chat. call us at 1 800 616 8878 to book your Service Chat today!

 

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