Secured Line of Credit | Borrowing

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Borrow in a way that makes sense

If you own your home, this product might be right for you.

A secured line of credit gives you freedom to expect the unexpected, or turn that home renovation dream into a reality.

Borrow what your need and only pay interest on what your use

Support from a dedicated specialist

Free unlimited Interac Debit transactions, bill payments, withdrawals, and cheques

Enjoy a wide variety of flexible repayment options

Want to apply for a Secured Line of Credit?

You can apply by logging onto your online banking or call us at 1-888-723-8881.

Take a look at today's rates:

Daily Balance	Annual Rate (%)
On all outstanding balances	Get a competitive low rate on our secured borrowing account**

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Call us at 1-888-723-8881

Email us at talktous@simplii.com

*This offer is open to primary account holders: (i) who initiate and submit for credit adjudication an application for a new Simplii Secured Line of Credit Account (“SLC”) between October 1, 2018 and November 30, 2018 (the "Offer Period”); (ii) pay a $150 application fee in respect of the SLC; and (iii) whose SLC is approved on or before January 15, 2019.

The primary account holder will earn $150 cash back if an average daily closing balance of $30,000 or more is maintained in the SLC between the date the SLC is approved, and the last day of the second full calendar month after the month that the SLC is approved (the “Qualifying Period”), providing all other terms, requirements and conditions are met, as follows: (i) a SLC approved anytime in October 2018 must maintain a minimum average daily closing balance of $30,000 until December 31, 2018; (ii) a SLC approved anytime in November 2018 must maintain a minimum average daily closing balance of $30,000 until January 31, 2019; and (iii) a SLC approved anytime in December 2018 must maintain a minimum average daily closing balance of $30,000 until February 28, 2019; and (iv) a SLC approved on or before January 15, 2019 must maintain a minimum average daily closing balance of $30,000 until March 31, 2019. Average daily closing balance is a calculation of the closing balance in the SLC at the end of each day, averaged over the Qualifying Period.

$15,000 minimum borrowing amount. Obtaining a SLC is subject to credit approval. A $150 application fee for processing, appraisal and registration applies. Not available in Quebec or on properties located in Nunavut, NWT and Yukon. Additional terms, conditions and restrictions apply; ask for details. Simplii Financial reserves the right to determine, in its sole discretion, whether a borrower has initiated and submitted an application for credit adjudication during the Offer Period. $150 cash back will be credited to the SLC in April 2019. To qualify for this offer, the SLC must be open and in good standing from the date it is approved until the date the cash offer is credited to the SLC. Limit of one $150 cash offer per customer.

This offer is not available in respect of SLCs for which the $150 application fee was waived. Offer and cash are non-transferable. 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 Simplii Financial, in its sole discretion. Offer may be changed or cancelled, for any reason, without notice at any time.

For more information, including current interest rates, visit www.simplii.com, or call 1-888-723-8881.

** Rate 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.

^TM “SIMPLII FINANCIAL” and the SIMPLII FINANCIAL DESIGNS are trademarks of CIBC. “Simplii Financial” is a division of CIBC. Banking services are not available in Quebec.

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Borrowing
Secured Line of Credit

A simple way to borrow

Borrow in a way that makes sense

Want to apply for a Secured Line of Credit?

Take a look at today's rates:

Tools and calculators

Have questions?