(NC)-Want new furniture for your home? Are there repairs or renovations that just can't wait? Or even paying for that much needed last minute vacation?
A line of credit or a personal loan are flexible solutions to get you the funds you want for life's planned and unexpected expenses whenever you need it.
A personal Line of Credit gives you flexible borrowing to meet your changing needs for both today and tomorrow.
• Borrow money when you need it without having to re-apply - it's like having a reusable loan.
• Pay interest only on the amount you actually borrow.
• Flexible payment options. You can make payments at anytime as long as it is once a month by the due date.
• Easy access to cash. Taking advantage of your personal line of credit is convenient. It is similar to drawing funds from your personal banking account.
This is a great solution when you need to make a major purchase like buying new furniture, investing in RRSPs, taking a vacation or simply having extra funds for everyday spending.
A Personal Loan allows you to borrow a lump sum of money for a major purchase.
• This makes budgeting easy - you know the amount you'll pay and exactly how long it will take to pay off the loan.
• Pay off all or part of the loan at any time without penalty.
• Have the option of either a fixed or variable interest rate.
It is great solution for consolidating debt, renovating your home, buying a car or even going back to school.
There are a variety of solutions that can help you reduce the amount of interest you pay and that will suit your lifestyle and budget. You can even use the equity that you have built up in your home to borrow at an even a lower interest rate.
For more information on CIBC lending products, visit your nearest CIBC branch, call 1 800 465-CIBC (2422) or visit www.cibc.com/ca/loans.
- News Canada