Line of Credit
Finance your future
A Line of Credit is one of the easiest and most reliable ways for you to avoid the inconvenience and cost of dealing with temporary cash shortages (up to a predetermined limit1) and you only pay for protection when you use your Line of Credit.
- Minimum amount $500
- One time approval
- Revolving credit2
- Variable interest rates3
- Access funds by ATM, cheque, debit card, etc.
- Deposits to your account are applied to advanced amounts first
- An NSF deposit is treated as non-payment and interest continues to accrue on advanced amounts
- Interest is payable monthly at month end
- An application fee may apply
- Cost of credit and any fees will be disclosed at time of approval
- If items that exceed your limit are allowed to be processed to your account, additional overdraft fees and interest will apply4
- If approved for a Line of Credit, you may borrow up to the credit limit set by Conexus. The Line of Credit interest rate is determined at the time of application.
- Account operation must be satisfactory for continuing credit. Conexus reserves the right to terminate the Line of Credit at any time with notice.
- A variable rate will change when the prime rate changes.
- A $5 fee is charged for each overdraft item and overdraft interest is charged at a rate of 21% per year (rate may vary from time to time). The decision to allow overdraft items is at Conexus’ sole discretion.