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Secured Line of Credit

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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.

Fresh Financial Thinking®