Secured Line of Credit

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Ask us about a Secured Borrowing Account.
Apply between March 3 – May 31 and you could earn 150,000 PC points**. Call us today for more information.

If you own your home, the President’s Choice Financial secured line of credit is a borrowing option that may work for you. Borrow money for home renovations, debt consolidation, car purchases, large investments or simply the unexpected.

  • Save hundreds in set-up fees
  • Borrow only what you need and only pay interest on what you use
  • Access the equity you've built in your home at our lowest interest rate¹
  • Apply to qualify once and borrow* up to 65% of your home equity² Open Features
  • Free unlimited Interac® Debit transactions, bill payments, withdrawals and cheques
  • Free access to your account at all PC Financial and CIBC bank machines
  • Use your PC Financial bank card to access your account online, by phone, at a bank machine or through Interac® Debit transactions
  • Enjoy a wide variety of flexible repayment options

How do I apply for this account?

Already a PC Financial personal banking customer?

Simply sign-in to your online banking and complete the online application.

If you're a new customer

  1. Call our call centre at 1-888-723-8881
  2. Visit the PC Financial pavilion nearest you to apply in person with one of our Personal Banking Representatives.

Open a Secured Borrowing Account and we'll waive the legal package fee if you use our service provider! Your only cost is a one-time $150 application fee.3 This cost is lower than what most banks charge. Please contact us for more information.


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Interest Rates Open Interest Rates Dialog Close Interest Rates Dialog
This table lists the interest rate for the Secured Borrowing Account
Daily Balance Annual Rate (%)
On all outstanding balances Get a competitive low rate on our secured borrowing account**

**All credit products are subject to credit approval. Some conditions and restrictions apply; ask for details. $15,000 minimum borrowing amount. Subject to credit approval. A $150 setup fee for processing, appraisal and registration applies. Not available in Quebec or on properties located in Nunavut, NWT and Yukon. Additional conditions and restrictions apply; ask for details.

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*$15,000 minimum borrowing amount. Subject to credit approval. A $150 setup fee for processing, appraisal and registration applies. Not available in Quebec or on properties located in Nunavut, NWT and Yukon. Additional conditions and restrictions apply; ask for details.

1Rate based on go to CIBC prime. Prime means the variable interest rate declared by CIBC from time to time to be the CIBC prime rate for Canadian Dollar loans made by CIBC in Canada. CIBC prime rate 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.

2The current market value of your home less what you currently owe on your home, or other encumbrances. Some additional conditions may apply on properties currently valued over $500,000. Ask for details.

3The one-time $150 fee is for processing, appraisal and registration. Additional, non-refundable registration or conversion fees may apply in Alberta, Newfoundland & Labrador, PEI, 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.

**This offer is only open to primary account holders who: (i) apply for a new President’s Choice Financial Secured Borrowing Account (“Eligible Account”) between March 3, 2016 and May 31, 2016; and (ii) pay a $150 set-up fee in respect of the Eligible Account. To participate in the offer, your Eligible Account must be open on or before June 30, 2016. You will earn 150,000 PC points if you maintain an average daily closing balance in your Eligible Account of $30,000 or more between the date your Eligible Account is opened and the last day of the second (2nd) calendar month after the month that your Eligible Account is opened (the “Qualifying Period”) as follows: (i) an Eligible Account opened anytime in March 2016 must maintain a minimum average daily closing balance of $30,000 until May 31, 2016; (ii) an Eligible Account opened anytime in April 2016 must maintain a minimum average daily closing balance of $30,000 until June 30, 2016; and (iii) an Eligible Account opened anytime in May 2016 must maintain a minimum average daily closing balance of $30,000 until July 31, 2016; and (iv) an Eligible Account opened anytime in June 2016 must maintain a minimum average daily closing balance of $30,000 until August 30, 2016. Average daily closing balance is a calculation of the closing balance in a single Eligible Account at the end of each day, averaged over the Qualifying Period. Opening an Eligible Account is subject to credit approval and a $150 set-up fee for processing, appraisal and registration. PC points will be awarded to the qualifying primary accountholder in September 2016. To qualify for the offer, your Eligible Account must be open and in good standing throughout the Qualifying Period and also at the time the PC points are awarded. Limit of one (1) 150,000 PC points offer per customer. Account holders of President’s Choice Financial Secured Borrowing Accounts opened prior to March 3, 2016 or after June 30, 2016 are not eligible to participate in this offer. PC points will not be awarded in respect of Eligible Accounts for which the $150 set-up fee was waived. Offer and PC points are non-transferable. Minimum redemption is 20,000 PC points (worth $20 in rewards) and in increments of 10,000 PC points thereafter at participating grocery stores where President’s Choice products are sold. Additional redemption restrictions apply; visit pc.ca for details. This offer cannot be combined with other promotional offers. Offer may be revoked if you appear to be manipulating or abusing it, or are engaged in any suspicious or fraudulent activity, as determined by the provider of President’s Choice Financial personal banking services (the direct banking division of CIBC), in its sole discretion. Offer may be changed or cancelled without notice at any time. For more information, including current interest rates, visit www.pcfinancial.ca, speak to a representative at a President’s Choice Financial pavilion or hub, or call 1-888-723-8881.

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