We want to work together with you to maximize the correct use of a loan or line of credit. A Libro Coach will be able to help you strike the right balance with your personalized Prosperity Plan to ensure you maintain control of your credit tools.
Let's TalkPersonal installment loans help you finance purchases like a vehicle, education costs or a vacation. Repayment involves regular blended payments of principal and interest over an agreed period of time.
Our loans offer:
Variable or fixed interest rates
A choice of payment options
Repayment options - we offer 6 & 7 year vehicle loans for new or nearly new vehicles
Loan insurance - creditor's disability insurance available
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Overdraft Protection |
MeritLine (Account) |
Student Line |
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| Line of Credit Limit | *$500 - $5,000 | $5,500+ | $5,000 - $10,000 per study year |
| Attached to Chequing Account | ✓ | ✓ | ✓ |
| Acts as Overdraft | ✓ | ✓ | ✓ |
| Payment Options | Automatically paid down when you make a deposit | Interest only payment | Interest only payments during studies** |
| Best for you if... | You'd like peace of mind if your account becomes overdrawn- protects if something unforseen should clear the account. This is a short term solution. | You'd like a long term solution where the Line of Credit attaches to your chequing account for ease of use. This gives flexibility for larger purcahses and has interest only payments at competitive rates. | You're a post secondary education student looking at a flexible option for tuition, books, and any related expenses. |
*Limits under $500 can be authorized in certain cases. Please talk to a Libro Coach for more information.
**Principal & interest payments begin 1 year after student finishes studies.