Line of Credit

 

Personal Line of Credit

If you’re the type of person who is looking to borrow small amounts of money on a semi-regular basis, then a line of credit at Moya Financial may be just what you’re looking for. A line-of-credit is an ongoing loan that allows you to borrow any amount, for any reason, at any time, up to your pre-arranged limit.

Here are some of the special features:

  • Credit limit of $3,000 to $50,000
  • Competitive rate; as low as Prime* if secured by deposit
  • Secured or unsecured
  • Access your line of credit by writing a cheque or by using a bank machine card
  • You pay interest only on the amount you borrow, for the number of days you borrow
  • There is no cost if you don’t use the line of credit

Student Line of Credit

When grants, scholarships and savings won’t cover all of your education costs, we can help. Moya Financial Student Line of Credits are designed for students and their parents. The funds can be used for tuition, books, living expenses, etc. and with Moya Financial, you’ll always enjoy fast access to funds and great ways to save during repayment.

Advantages:

  • Receive up to $25,000
  • Interest only payments during school enrollment.

MeritLine Home Equity Line of Credit

Use the equity in your home and borrow money at Prime. Renovate your home, buy a car, pay for an education; the possibilities are endless.

Here are some of the special features:

  • Apply only once
  • Credit limit of $20,000 to $200,000
  • Interest rate at Prime
  • Secured by home, up to 60% of value
  • Access your line of credit by writing a cheque or withdrawing cash or transfer
  • You pay interest only on the amount you borrow, for the number of days you borrow
  • Minimum interest payment monthly
  • Prepay at any time

Rate*

Prime Rate 3.50%
*All rates are provided for information purposes only and are subject to change without notice.