President's Choice Financial|accounts and products|low-cost borrowing|secured borrowing account

secured borrowing account secured borrowing account

even lower interest on a line of credit that's always there for you

Why spend time sifting through other accounts looking for the lowest rates? The President’s Choice Financial^® secured borrowing account is a simple, convenient way to borrow money at an incredibly low interest rate.

Our secured borrowing account is a secured line of credit that lets you borrow only what you need and only pay interest on what you borrow. And, since it’s home-secured, you’ll get our lowest rate. Whether you’re looking to renovate, travel, invest or buy a cottage-it’s perfect for you.

how you can benefit from the secured borrowing account:

amazing low rate based on prime¹
qualify once to borrow anywhere from $25,000 up to 80% of your home equity²
minimum monthly payments can be interest only
you decide when to pay down the principal
no fee access online, by phone, at a bank machine³ or through Interac® Direct Payment
a wide variety of flexible repayment options
You can get 5 PC^® points for every dollar spent⁴ when you use your bank card at participating stores where President’s Choice^® products are sold⁵.

Choose a credit option to compare our borrowing options and see which one is best for you.

save on fees!

There are one-time fees associated with the set-up of your secured borrowing account. These include third party costs that typically cover the cost of preparing the legal package and home appraisal. Because President's Choice Financial services is always striving to deliver exceptional value, we're waiving the legal package fee⁶. Your only upfront cost is a one-time $150 application fee for processing, appraisal and registration (except in Alberta, Newfoundland and Labrador, Prince Edward Island, Nova Scotia and New Brunswick)⁷.

Some conditions and restrictions apply. Secured borrowing account credit limit must be $25,000 or more. Subject to credit approval. Secured borrowing account not available in Quebec or on properties located in Nunavut, the Northwest Territories and the Yukon.
¹ Based on CIBC prime rate, (prime), which is subject to change. Your rate will vary whenever CIBC prime rate varies and/or whenever we change your variable interest rate in our sole discretion with notice.
² Less what you currently owe on the property, or other encumbrances. Some additional conditions may apply on properties valued over $500,000.
³Free transactions at President's Choice Financial or CIBC bank machines.
⁴ PC points awarded for grocery and merchandise purchases on the bank card are subject to change without notice.
⁵ Participating stores: Atlantic Superstore, Atlantic Save Easy, Atlantic SuperValu, The Real Canadian Superstores, Extra Foods, Fortinos, Zehrs, no frills, Loblaws, valu-mart, Your Independent Grocer and participating stores in Newfoundland and Labrador where President’s Choice products are sold.
⁶ We will not charge you the standard secured borrowing account legal package fee if you use our service provider. Additional, non-refundable registration or conversion fees may apply in Alberta, Newfoundland and Labrador, Prince Edward Island, Nova Scotia and New Brunswick.
⁷Your only upfront cost is a one-time $150 application fee for processing, appraisal and registration (except in Alberta, Newfoundland and Labrador, Prince Edward Island, Nova Scotia and New Brunswick). You must pay for independent legal advice, if required and any additional expenses and fees. Our set-up offer may be changed, withdrawn or extended at any time without notice.

^® PC, President’s Choice, President’s Choice Financial, PC Financial and Fresh Financial Thinking are registered trademarks of Loblaws Inc.
^®Interac is a registered trademark of Interac Inc. CIBC a licensee of the marks. All other trademarks are property of Loblaws Inc.