A Scotiabank Personal Line Of Credit is a revolving loan with lower interest rates than credit cards and convenient access to funds with flexible repayment options. Its credit limits range from $5,000 to $75,000, one of the widest in Canada.
- High maximum borrow amount
- Your Visa Access Card comes with perks
- Personal line of credit for students
- No online chat support service
- Difficult to find information about interest rates
- Can be easy to overspend
- Canadian citizen
- Employed
- Age of majority
- Special discounts on car rentals
- Provides a Visa Access Card for accessing funds
A personal line of credit can come in handy for a wide range of reasons. With lower interest rates than other options like credit cards, a personal line of credit gives you some financial flexibility at a relatively low cost of borrowing.
- Branch access
- Balance and payment protection
- Low maximum credit limit
- No ATM or debit card access
- Canadian citizen
- Employed
- Age of majority
- Balance Protection (life insurance and critical illness insurance) available
- Payment Protection (disability and job loss insurance) available
A TD line of credit is a borrowing tool that gives you easy access like a credit card, but often with a much lower interest rate. Because it's a revolving credit product, you'll be given up to a $50,000 credit limit which you can spend, pay off, and spend again. This convenience makes it a popular choice for debt consolidation, plus you can decide how much you can pay off each month, as long as you meet the minimum.
- Borrow between $5,000 to $50,000
- Easy to access funds (including an access card)
- No registration fee
- Both fixed rate and variable rate options available
- Easy to apply
- Might not get the best interest rates around
- Using your TD access card might involve fees
- Connecting to your debit card may make it too easy to access
- Canadian citizen
- Employed
- Age of majority
- Fixed and variable rates available
- Multiple access options
An unsecured line of credit can give you flexibility to deal with any current or future financial needs. Whatever your plans may be, an RBC Personal Line Of Credit is a solid choice. With a minimum of $5,000 and no stated maximum, RBC's offering can be more flexible than offers from other banks.
- Standard minimum limit of $5,000
- Upper limit of 65% of your home’s value
- Multiple ways to access your cash
- Flexible repayment options
- No fee to withdraw funds
- No access card mentioned
- Variable interest may mean higher rates later
- Only 2 free cheques a month
- Canadian citizen
- Employed
- Age of majority
- Optional LoanProtector life and disability or critical illness insurance available










