Holiday Financing Options Regina SK

Although the holiday season can be stressful on your finances, it doesn't have to be that way. Consider opening a personal line of credit with a low interest rate.

Partners In Planning
(306) 347-4477
2330 15Th Avenue
Regina, SK
 
Scotiabank
(306) 780-1250
2907 13Th Avenue
Regina, SK
 
Stone Creek Financial Group
(306) 543-2448
374 University Park Drive
Regina, SK
 
BMO Bank of Montreal
(306) 569-5640
1800 Scarth St
Regina, SK
Type
Branch with ABM

Wpg, The Wealth Planning Group
(306) 757-5038
207 - 4401 Albert Street
Regina, SK
 
Canadian Western Bank - Regina
(306) 757-8888
The Hill Center Ii
Regina, SK
Office Hours
Mon - Fri: 9:00 - 4:30

Scotiabank
(306) 780-1200
1980 11Th Avenue
Regina, SK
 
Mgi Securities
(306) 525-2561
1842 Scarth Street
Regina, SK
 
Partners In Planning
(306) 791-3474
302 University Park Drive
Regina, SK
 
Scotiabank
(306) 780-1275
4110 Albert Street
Regina, SK
 

Holiday Financing Options

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(NC)-Let's face it; many of us-despite our best efforts-probably overextended our budgets with holiday shopping. With Canadians spending an average of $900 on gifts alone, it's not unusual for bills incurred during the holidays to linger. And, with the impending RSP deadline, how can we stick to our retirement plan and find the funds to make our contribution? Fortunately, there are many options available to get your finances back on track, one of which is a personal line of credit.

A personal line of credit allows you to withdraw any amount of funds, as you need them, up to the predetermined, approved credit limit - based on your personal financial situation. It's a great way to borrow if you want ongoing access to funds and if your needs vary throughout the year.

Think of it as your own little bank. Once you've paid it back, you can use it repeatedly without re-applying. It's a convenient way to pay for things that simply cannot wait, like topping off any unused RSP contribution room or home renovation projects. You can also use it for non-registered investments, major and everyday purchases or for that well-deserved vacation.

With a much lower interest rate than most retail credit cards, a personal line of credit is also a popular choice for consolidating higher interest debt. Rates will depend on the type of personal line of credit you select. A secured personal line of credit, where the equity in your home is the security, allows the lender to be able to offer more favourable terms and possibly a higher credit limit because of the reduced risk. For example, with the CIBC Home Power line of credit, you can access up to 80% of your home's appraised value minus any balance owing on the existing mortgage and any other encumbrances on title. It offers flexible monthly repayment options that let you decide how much to repay, including an interest only payment option on the funds you use. Alternatively, if you don't own a home or owe more than 80% of the value of your home, you can opt for an unsecured personal line of credit like the CIBC Personal Line of Credit with limits ranging from $5,000 to $200,000. You can conveniently access your line of credit at any CIBC Instant Teller machine, Telephone or Online Banking, cheque or CIBC Convenience Card-all with no transaction fees.

More information is available at your nearest CIBC branch, online at www.cibc.com or by calling toll-free 1-800-465-CIBC (2422).

- News Canada