The fact is we need money for our daily life, family and business plans. Another fact is that excessive debt can make it more difficult to reach long term prosperity.
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.
Personal Loans
Personal installment loans help you finance purchases like a car, 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 car loans for new or nearly new cars
- Loan insurance - creditor's disability insurance available
Lines of Credit
|
Overdraft Protection |
MeritLine Demand |
MeritLine Loan |
Student Line |
|
| Line of Credit Limit | *$500 - $5,000 | $5,500+ | $5,500+ | $5,000 - $10,000 per study year |
| Attached to Chequing Account | ✓ | ✓ | ✓ | ✓ |
| Acts as Overdraft | ✓ | ✓ | n/a | ✓ |
| Payment Options | No fixed payment schedule | Interest only payment | Automatic Sweep payment Principal only payment |
Interest only payments during studies** |
| Insurance Available | Life, Disability & Critical Illness | Life, Disability & Critical Illness | Life, Disability & Critical Illness | Life, Disability & Critical Illness |
*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.